All right, so this is our monthly staple video. This is our March, 2026 real estate market update. We're gonna go over all the latest stats for the cities of Temecula, Murrieta, Menifee, California, and then where gonna compare a year ago versus today. Kind of talk about the difference and give you some perspective of what I'm seeing on day-to-day basis as a real estate agent.

So, 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 is our monthly staple video. We're gonna go over all the latest stats for the cities of Temecula, Murrieta, Menifee, California. We're gonna talk about new listings, we're gonna talk about inventory, and how many listings are sitting out there on the market.

We're gonna talk about average days on market, and then talk about what's going on with sales prices. But before I get into all the information, if you are wanting to see more local based real estate information, please do me a favor. Please hit like, and please hit subscribe to the channel. We have new videos that we put out each and every week, and I think that's the best way to stand on top of the new stuff that we have we have coming out.

And if, again, it's all just local real estate stuff. So if you are interested in that, I think it's really good information. And then if you guys have any real estate questions, you can feel free to reach out anytime. You're gonna see my information either at the end of the video or down below. So you can feel free, you can call, you can text, you can email me.

You know, I'm happy to answer any questions you may have, you know, help 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 resourced for you and love to have, have the opportunity to help you and your family with, with your move. So feel free to reach out.

I'd love to at least have a conversation. Cool. All right, so I'm gonna get into all the latest stats. This is gonna be set up the same as our other, you know, market update videos. Basically we're gonna start with the city. We're gonna compare last year's stats versus this year, and then kind of talk a little bit about the change.

And then I'll kind of give you my perspective on, you know, what we're seeing as, uh, as real estate agents. So. Cool. Alright, so a year ago, so this would be March, 2025. I guess I should back up. So the first stat we're gonna talk about is the total number of new listings in each city. So this is just over the last 30 days, you know, how many new homes have popped up on the market.

So for the city of Temecula, where we're gonna start, and we will start with a year ago. So one year ago, March, 2025, in Temecula, we saw a total of 157 new listings pop up on the market. This year we are down to a total of 123 new listings pop up on the market over the last 30 days. So, uh, it's definitely a decrease, you know, percentage wise, it's a pretty big change.

It's a 22% decrease in new inventory this year compared to last year. Um, you know, and it's, it's pretty significant. You know, that's 34 less homes this year compared to a year ago. And both, both of the other cities. So Murrieta and Menifee really have the same trend lines as well. So in Murrieta a year ago, we saw a total of 174 new listings coming up on the market, and this year we're down to 147.

Uh, so that's a 16% decrease. Uh, and then menefee is actually the biggest decrease. So a year ago in Menifee we saw 225 available new listings, and this year we are down to 171. That's a 24% drop in new listings. I mean, that's 54 less homes this year compared to last year. And really across the board, we are seeing, you know, less inventory come up on the market.

Alright, so the next stat we're gonna talk about is the total number of active and available listings. And basically this is just, Hey, if I'm a home buyer and I wanna buy a home in a given city, how many homes are out there for me to choose from? And it's regardless of price point, regardless of size, just, you know, what does the total inventory look like?

And all three cities are seeing a decrease in total inventory. So the City of Temecula. A year ago, we saw a total of 355 available homes for sale, and this year we are down to 315 available homes for sale. So that's an 11% decrease. Um, but it's 40 homes overall, so it's a, it's pretty, it's pretty significant, I would say.

Uh, and then the City of Murrieta. It is a little bit less of a, of a decline, but still we are, we're in the red. We are, we're going down. So a year ago in Murrieta, there's a total of 423 available homes to choose from, and this year we're down to 404. So 19 less homes, it's, it's 5% decrease, but. You know, we're still going down.

And then Menifee, we saw the biggest change. So a year ago there were a total of 484 available homes to choose from, and this year we are down to 372. So that's a 23% decrease in Menifee. I mean, that's 112 less homes this year compared to last year. That's definitely pretty significant. Um, and I guess this is.

I guess most people would think this would be the case with less new listings coming up on the market, that means there's gonna be less for sale. Uh, that does also mean that homes, that it's not like we're compiling homes. It means homes are selling at a relatively decent clip because it's not like the inventory is stacking up.

Um, it's just people aren't putting their home up on the market for, I think, for a variety of reasons. All right, so the next stat we're gonna talk about is the average days on market. And this is, you know, how long the average home is taking to sell in each city. So although inventory isn't necessarily piling up, homes are definitely taking longer to sell.

And, I 'm pretty confident that the average days on market that we're gonna go over right now is the longest that I've seen. And I mean, I've been doing these stats for a good amount of time, I would say. I mean, I've probably been paying attention to it for like 10 years, and I've been making these videos weekly for probably six or seven years I would think.

And I, this is probably the highest days on market STAT’S that I've seen probably since like COVID, like June, 2020. So it's, it's getting up there for sure. And it's a pretty big, pretty big change from a year ago. So. Um, the average days on market for each city. So a year ago in the city of Temecula, so this would be March, 2025, the average home in Temecula was selling about 36 days.

So it's about a month still definitely be considered a seller's market at that point. Uh, this year, the average days on market is now up to 58 days on average. So that's a 47%. Increase, um, taking 47% longer. That is an extra 22 days. That's an extra three weeks, days on market. That's a pretty big change.

You know, we're now just hovering about right about 60 days. You know, as we get closer to 90 days, it really becomes more of a true buyer's market. Uh, this is the slowest moving real estate market we've seen in quite some time. So Murrieta, kind of the same stats. So a year ago, the average home in Murrieta was selling in 41 days.

Uh, the average home now is selling in 63 days, so it's over two months. Uh, that's an extra, again, 22 days. It's a 42% increase in length on the market. Um, and this, it's, you know, definitely starting to stack up. So the city of Menifee, same, same numbers. So a year ago, the average home was selling in 55 days. It's a pretty decent increase.

The average home is now selling in 70 days, so that's two, almost two and a half months. Now, the average home is taking to sell in Menifee. That's a 24% increase. And really just across the board, you know, the, those, those days on market averages are getting higher and higher and like I said, higher than I've seen in, in a good amount of time.

Um, it is kind of interesting because all these stats don't, do not look great for the real estate market, right? It kind of shows like a slowing real estate market, not inventory coming on, not a ton to choose from, and homes are taking a long time to sell. With that being said. As a real estate agent and friends and colleagues that I have and coworkers in the industry, I could tell you the market feels relatively busy.

Uh, since the first of the year. There's been a lot of homes that have been sitting on the market that are now selling. Um, I personally have a handful of listings that have been kind of sitting a little bit, that are now getting snapped up. And I even have buyers that we're working with when we're writing offers, you know, facing multiple offers and facing a pretty competitive market.

So. Um, I don't know. I'd be surprised if these stats continue over the next couple months. Again, this is a little bit of a lagging indicator on the stats, right? The stats are about, you know, these, this is capturing closings over the last 30 days, which means it's really capturing opened escrows, new escrows over the last 60 days.

That's now taking us back to about the beginning of the year. Um, but really shows you, you know, coming. To that first part of January, how slow the market is or market was. I feel like it's picked up a little bit, a decent amount since then. So what will be interesting over the next couple months, but what these stats show is a pretty, pretty slow real estate market.

Alright, and so the last stat we're gonna talk about is the average sales price. And again, in all three cities, the average sales prices are down, uh, compared to where they were 12 months ago. So. A year ago in Temecula, so March, 2025, the average home was selling for about $985,000. Uh, the average home this year in March, 2026 is selling for $882,000.

So that is a 10% change. Um. You know, and I, I, I guess I'll give some context after I go through the stats, but, so City Murrieta, a year ago, the average home was selling for $815,000. It's now down to $762,000. That's a 7% decrease. And the average home in Menifee, on the same trend line a year ago, was selling for $612,000.

Uh, we are now selling for $591,000, so that's a 4% decrease. So I will tell you, these probably look pretty significant. I mean, 10% decrease in average sales price. Definitely feels significant. Um, but I would tell you, you know, I think this is kind of a sign of a few outliers a year ago showing an inflated average sales price.

And I think the average sales price you're seeing this year is probably more on par with what we see on. Uh, you know, really over on an average over the last couple years. So the average home in Temecula has been selling somewhere in the mid $800,000, and the average home in Murrieta has been selling somewhere in the mid $700,000.

And the average home in Menifee has been selling somewhere right around the $600,000. So I do not think the average home has gone down 10% in value in the city of Temecula. I think it's just kind of the bunch of homes, the group of homes that have sold over the last 30 days. Really what I see as a real estate agent.

I see home values are relatively flat, you know, maybe a slight decrease, especially some of 'em that have been sitting, they get a little bit stale where people are having to compromise and give more discount. But I think home prices are holding relatively steady. Uh, so it'll be interesting to see kind of what these stats average out to in a month or so.

Kinda see how that looks. But, um, hopefully it's good information for you guys. Those are, you know, just kinda the stats of what's going on. Trying to give you a little bit of my perspective. If you guys have questions, feel free to reach out. You can call, you can text, you can email me, and hopefully talk to you soon.

Thanks.