I hope you all had a fantastic Turkey day! Thanksgiving was great this year with my loved ones being able to see lots of great people over the holiday weekend. My children totally enjoyed an entire week away from school! I remember when I was a kid we only had Thursday and Friday away from school, what's going on with that?! But I digress. Sorry this update is later on in the month but I was plopped on the sofa attempting to work off all the turkey.
With next month almost here, let us see how the Temecula Valley Real Estate market is doing:
Wow, there isn't much difference to measure at all! Overall, it is quite a mixed bag of the exact same stats from the previous month. The active homes on the market went from 363 to 352, a minor drop down. Also, the average Temecula Valley home list cost went down about $7,000 from $354,700 to $347,567. So not a big difference when considering it is an average of all the properties listed.
Now we get into the sold information and for the first time I am looking at back to back months (Sept and Oct 2011) having sold the same amount of Temecula Valley real estate at 140 single family houses. Keep in mind, I draw a particular set of criteria simply because I think it best signifies the fundamental real estate market. So we haven't seen a change at all in the amount of Temecula properties sold. Nevertheless, we did see an added delay of 6 more days on the average days on market, which means they are spending a little longer time to sell.
Overall, a fairly vanilla report but also a good one given that we aren't seeing a slowdown at this time. I did take a peek at November closings and we are super close yet again at 128. I am curious to see if we move past 140 in the upcoming days with the month closing.
Well, this is your November monthly report for Temecula Valley real estate. I wish you all had an amazing Thanksgiving and you will hear from me again next month!