The infamous year of 2012 is upon us. I hope you all had a wonderful and safe new year’s eve and day. My kids loved watching the ball drop this year, although I had to wake them up five minutes before because they knocked out around nine o’clock. Hopefully with a new year comes a change for the better in Temecula’s real estate market. The criteria for my statistics are Temecula homes, single family residences, detached with 3 bedrooms and two baths. Let’s see what the year 2012 has in store for us:
• Average Temecula Home Listed Price: $ 344,719
• Number of Temecula Properties Sold in December: 156
• Average Sold Temecula Property Price: $ 314,006
• Average Days On Market Of Homes Sold in December: 97
Well, let’s look at Temecula’s property prices for both actives and sold. It looks like active prices had a minor decrease from December’s $347,400 to January’s $344,719. However, the Temecula sold property price shot up from $297,760 to $314,006. Overall, that is a 5.45% increase. I say that’s a pretty significant increase in sold price within the last month.
I also noticed that Temecula’s average days on market has shot up from last month’s. November’s average days on market was at 85 and it is now a whopping 97 days in December. That is a 14.12% growth from month to month. And if we look at October’s DOM which was 81 days, you can see that it is continuing to grow. What does this mean exactly? This means it is gradually taking longer and longer to sell homes. However, if we look back to March we can see that this is a seasonal trend. During the summer, Temecula real estate’s days on market decrease and during the winter and spring, the days increase.
I hope my Temecula real estate statistics and trends report for January 2012 has provided you great info. As always, I hope you and your family stay safe. If you have any additional questions, I am available via email. Feel free to contact me anytime.
by Stefan West