The chill is finally in the air. It was beginning to look like Winter would never come in Temecula, what with our beautiful weather year round. I hope the weather didn't dampen your romantic plans for Valentine's day. It sure didn't dampen mine. With all the romance and rain in the air, let's see if it had a positive or a negative affect on Temecula's real estate market. The statistics for February's homes advisory are for single families, detached homes, with 2+ bedrooms and 2+ baths. Here are my figures:
• Total Actively Listed On Market in February: 358
• Average Temecula Home Listed Price: $ 346,803
• # of Temecula Properties Sold in January: 132
• Average Sold Temecula Home Price: $ 294,487
• Average Days On Market Of Homes Sold in February 97
Now, it looks like Temecula's active properties listed on market and average property listed price did nothing but increase in February. In January, the number of active homes listed on market was 325 while in February it is 358. That is an increase of 33 properties, a 10.15% increase in listed properties. That is a significant increase of listed homes in Temecula. I'm hoping this forecasts more closed homes in March's market analysis. The price also rose from $344,719 in January to $346,803 in February. A minute 0.6% growth but a growth nonetheless.
The biggest change was the number of closed properties in Temecula. It fell from 156 properties in December to 132 homes in January. That is a difference of 24 homes, a 15.38% decrease in the amount of sold properties. Temecula's real estate took a beating when it came to closing homes. Temecula's sold property price also decreased from $314,006 in December to $294,487 in January. That is about a 6.22% decrease in sold price. Both of these percentages are very significant in my opinion. Hopefully with the active numbers for February looking quite good, we won't see another dramatic drop like this past month.
And that is my Temecula Homes Advisory and Projections for February 2012. I hope I left you with more answers than questions. Feel free to contact me with further questions via email anytime. Wishing you safe and well.