Happy St. Patrick's Day! We are already in the third month of 2012 and Temecula's real estate market continues to exhibit a decrease in numbers. Taking a look at my past market reports, I've seen a drop in numerous categories each month from the average sold price to the number of closed properties. My statistics for March continue on the same route. The criteria for my stats are single family residences, detached homes, with 3+ bedrooms and 2+ baths. Here is what happened in March:

 

•    Total Actively Listed On Market in March: 305
•    Average Temecula Property Listed Price: $ 356,812
•    # of Temecula Properties Sold in February: 121
•    Average Sold Temecula Property Price: $ 289,939
•    Average Days On Market Of Homes Sold in February: 80

Well, Temecula's real estate market isn't showing too many signs of improving in March. First, let's take a look at how February's figures ended. The number of Temecula homes sold dropped by 8.33% from about 130 homes in January to about 120 homes in February. The average sold price also fell about 2%. That is not as significant as the decrease in number of homes sold but it is still another statistic where there was a drop in figures. However, the days on market had the largest difference this month. It was a 17.52% drop in DOM. A smaller number of days on market means it didn't take as long, on average, to sell the properties. Buying or selling properties in a shorter amount of time is a great sign.

Temecula's real estate market for February had some good and some not so good percentages. The active numbers for March followed the same pattern. The number of active homes listed decreased about 14% from 358 properties in February to 305 properties in January. That is a difference of about 50 homes. A fewer number of homes put on the market can be seen as a positive change or a negative change, depending on how you look at it. The average listed price for the homes increased from $346,803 to $356,812. That's about a $10,000 or 3% rise in average listed price. That is good news for those of you who are trying to sell your homes.

Even though many of these numbers have had a decreasing percentage, it doesn't necessarily mean the real estate market is going down under. There have been both great and not so great stats given here. Trends continue changing and I am here month to month with my Temecula CA Real Estate Market Advisories giving you statistics and projections.

I hope my Temecula real estate statistics for March 2012 has helped you with all of your real estate market needs. If you have any questions, don't hesitate to shoot over an email. I wish you and your family a happy and healthy March.

by Stefan West