Alright, so here is your February, 2026 Real Estate Market update. We're gonna go over all the latest stats for the cities of Temecula, Murrieta, and Menifee, California. Let's go ahead and get into it.

Hey guys. Hey again. My name is Justin Short. I'm a realtor and team leader with a short real estate team here at Keller Williams in Temecula. And this video is our monthly staple. We're gonna go over all the latest stats for the cities of Temecula, Murrieta, Menifee, California. We're gonna talk about, you know, new inventory and how many listings are coming up on the market.

We're gonna talk about how much inventory's out there sitting, uh, days on market, how long the average home has taken to sell, and then we're gonna talk about average sales price. And really we're gonna compare today's stats versus a year ago and kind of talk a little bit, kinda how things have changed and kind of what, what the trends are.

And of course, I'll give you my experience as a real estate agent, kinda what we're seeing on a day-to-day basis. So hopefully it's good information for you guys. Uh, but before I can get into all the information. If you are liking real estate videos like this, please do me a favor. Please sit like, and please sit, subscribe to the channel.

Obviously it helps me and it helps my channels. We try to continue to grow it, and then we have new videos that we put out each and every week, so if you want more, you know, local based real estate stuff, I think it's a great way to stay on top of it. We have all just kind of local videos talking about Temecula, Murrieta and Menifee, best neighborhoods, worst neighborhoods.

You know, best parts of town, worst parts of town, you know, all that, different types of stuff. So if you want more information, that's a great way to stay on top of it. And then if you guys have any real estate questions, you know, you can feel free to reach out to me anytime you see my cell phone, uh, my name, cell phone, and email either down below the video or at the end.

So it's, my cell phone number goes straight to me. So I'm happy to answer any questions you may have. Point you in the right direction. Or of course, if I can help you out with your real estate search, you know, I'd love to be a resource for you. I'd love to help you with that. Obviously, it's how I earn a living, so I would love the opportunity.

All right, so let's go ahead and get into all the stats. So we're gonna set it up, you know, the same as our other market update videos. Uh, we're gonna compare last year's stats versus this year's. Kinda talk about, you know, how the, how the numbers have changed and kind of what, what is going on. Uh, so the first thing we're gonna start with is the total number of.

New listings and we're gonna compare last year versus this year. So, uh, last year, so this, this will be February, 2025, in the city of Temecula, we saw a total of 154 new listings coming up on the market. And then this year, over the last 30 days, we've seen a total of 145. Uh, so that is a little bit of a decrease, you know, it's a 6% decrease in, in, in new inventory this year compared to last year.

I mean, it's nine homes. It's not like this super significant difference. Um, but you'll see all three cities that we're gonna talk about. The new inventory is trending down year over year. So that is, uh, definitely more significant. So, uh, city of Murrieta, same thing. So a year ago there was a total of 169 new listings, and this year we're down to 142 new listings.

So that's a bigger change. That's 16%, you know, that's 27 less homes this year compared to last year. That's a bigger difference. And then City of Menifee, a year ago, the total number of new listings, sorry, in the city of Menifee was a total of 164, and this year we're at 158. So it is a slight decrease, but it's a 4% change, more or less.

Pretty flat in Menifee. Um, but all three cities. Less new listings this year compared to last year. All right. So the next stat we're gonna talk about is the total number of active and available listings. So basically this is, hey, if you wanna buy a home in a given city, how much inventory's out there?

How many homes are there out there for you to choose from, regardless of price point, regardless of size, just, you know, what, what's available? So, uh, the city of Temecula, a year ago, so February, 2025, there was a total of 320 available homes for sale. This year it's down. The total inventory is down this year.

So currently there's a total of 291 available homes for sale. So that is a 9% decrease. And that's, you know, that's pretty significant. You know, it's 29 less homes this year compared to last year, you know, just about 10%. And I think that's a pretty big deal. Um, especially. You know, we're not seeing new listings keep up with how fast they're coming up on the market last year.

I think a lot of people kind of pause on the market. A lot of sellers kind of pause, I feel like the market is slower and more of a buyer's market. Uh, but, but the truth is kind of what we're seeing on a day-to-day basis is a lot of homes that have been sitting, that have been stagnant for two months, three months, four months, five months are now getting snapped up.

So they're getting offers, they're. You know, have to negotiate. They probably have to lower the price a little bit. They're having to offer some rate buy downs, things like that. But we're seeing a lot of inventory that's been sitting, uh, that is finally coming off the market as interest rates have come down a little bit.

I think overall buyer, uh, sentiment is up a little bit, kind of feel. More positive about things. I, I, it feels like, at least my opinion, and a lot of, you know, my agent, friends and colleagues that I talk with, it feels like the market is kind of bottomed out, you know, towards the end of last year. And we're kind of seeing a rise, new activity.

Um, I'm getting, you know, more calls from clients that are wanting to sell, wanting to purchase. I've had listings personally that have been sitting for, you know, a little bit of time and are now starting to get snapped up. Just, just feel like the market is picking up. Some of that is seasonal coming outta the holidays, but it feels more so than the last couple years for sure.

So, uh, city of Murrieta though, it's, you're following the same trend. It's actually a bigger difference. Um, so City of Murrieta, a year ago there was a total of 377 available homes for sale. And this year we are down to 314 available homes for sale. That's a 17% difference. I think that's like 60 less homes this year.

Over 60 less homes this year compared to last year. That's pretty dang significant for sure. And then the City of Menifee kind of saw you're seeing the same trend. So a year ago there was a total of 384 available homes for sale, and this year we're down to 354. So that's an 8% difference. Um, but again, across the board, less inventory this year compared to last year.

Alright, so the next stat we're gonna talk about is the average days on market for each city. So this is just, you know, how long the average home was taken to sell. So, uh, a year ago, so February, 2025 in Temecula, the average home was selling in 40 days, and this year it is up, it's up almost two weeks. The average home was now selling in 53 days.

So that is a 33% difference. Um, you know, you're seeing Temecula, Murrieta, and Menifee are all following, you know, the same trend line there. So, in the city of Murrieta, a year ago, the average home was selling in 52 days, and this year we are up to 61. Uh, so 17% change. And then in the City of Menifee, a year ago, the average home was selling in 48 days, and this year we are up to 55 days.

So taking an extra week, it's a 15% difference. So across the board, in all three cities, homes are taking longer to sell than they were a year ago. Although I think if we compare this to the last few months, like say the last four months, um, I think you'll see the average days on market are actually going down than compared to where they were, say in like November and October.

So we'll have to keep an eye on this and kind of see how this continues to change, especially as there's less inventory out there and not as many new listings coming up on the market. Uh, just something, it's something I'm paying attention to, something that I, I am interested in, and as it feels like the market's changing a little bit.

Something to keep an eye on. All right, so the last stat we're gonna talk about is the average sales price across all three cities. The average sales price is down this year compared to last year. So City of Temecula, February, 2025, the average home was selling for $902,000, almost $3000. And then this year, the average home.

It is selling for $859,000. So that's a 5% decrease. That's a pretty big difference. Um, you know, it's a $40,000 average sales price difference. I know I've mentioned this in other videos in the past, but I don't think this is necessarily accurate. You know, I think what I see as a real estate agent and kind of what the market shows me is, you know, home values are pretty much flat year over year.

They may have gone up a little bit, they may have gone down a little bit, you know, percent, 2% either way. Depending on the neighborhood and, you know, different factors like that, uh, 5% would be super extreme. So I think this is probably more significant. Indicative of some outliers last year. So a year ago there were probably a few more, you know, higher multimillion dollar sales and probably a few less lower condo sales that kind of throw off that number.

Um, because that $860,000 is pretty consistent, we've kind of seen $868, that average sales price in Temecula for the last couple years now. So, um, I don't think it's that big of a change, but. That is what the numbers show. Um, city of Murrieta, I think this is more in line with what I see. So a year ago the average home Murrieta was selling for $769,000, and this year it's down to $764,000.

So that is a $5,000 difference, 1% decline. Um, the city of Menifee, a year ago, the average home was selling for $585,000. And this year it's down to $572,000. So it's a 2% decrease. Um, I think that's pretty, you know, spot on, you know, one to 2% either way. Could go up, could go down a little bit, but more or less, pretty flat.

Um, it will be interesting again as the next couple months play out. As you know, it feels like rates are a little bit better. There's a little more buyer demand. As there's less inventory out there, it'll be interesting to see if prices continue to stay flat or if we start seeing 'em jump up a little bit with a little bit more demand that's out there.

But, um, anyways, hopefully that's good information for you guys. And then just kind of my, I guess I already gave you my perspective as a real estate agent, but you know, we are seeing more buyer demand. We are seeing, uh, some people that have been sitting on the sidelines that are jumping in wanting to buy and really some that are wanting to sell, that are kind of hanging out at those lower rates, but they're finally.

Hey, our family doesn't fit here anymore. Hey, this house is too big for me. I need to move. And as the rate on the new house gets, you know, a little bit closer, it's making it more palatable to go ahead and make that move. And then a lot of people that see on the sideline are finally feeling like, Hey, you know, rates are at a point.

I can get that payment decent enough where it makes sense for me to buy. Uh, we will keep you updated over the next few months and see how things continue to change, but hopefully it's good information for you guys. Feel free to reach out. You can call, you can text, you can email me and hopefully talk to you soon.

Thanks.