Home > Blogs > California > Riverside County > Temecula > Temecula Real Estate Market Update for April 2013...Prices up nearly 30% from last year!!!

Ryan Smith's Blog

By Ryan Smith (951) 595-7490 | Agent in Temecula, CA

Temecula Real Estate Market Update for April 2013...Prices up nearly 30% from last year!!!

This post was originally posted at:  http://www.blasicsmithteam.com/2013/05/14/temecula-real-estate-market-update-for-april-2013/

The Temecula Real Estate Market Update for April 2013 is ready for your reading enjoyment.  Two things are really starting to heat up in Temecula...the weather and the housing market.  As I write this it's unseasonably hot...the fourth straight day above 90 degrees!!!  I'm glad cooler weather is in the forecast.  I bet home buyers wish there was a cooling trend with Temecula's housing market, but that doesn't seem to be in the forecast.  Sellers are taking advantage of this upswing and rightfully so, it's been years since we've seen the market this hot.

Median Sold Price by Month for Temecula

Take a look at some of these numbers for April 2013:

Total Units Sold: 181
Avg. Days on Market: 29
Median Sales Price: $350,000
Standard Sales: 125
Short Sales: 43
Bank Owned Properties: 12
New Properties Listed: 250
Months Supply of Inventory: 1.1

The median sold price is up almost 9.4% from last month and a whopping 29% compared to April 2012!  Standard sales in Temecula make up 69% of the closed sales in Temecula while Short Sales only account for 24% and Bank Owned homes are the lowest at 7%.  The housing market is definitely rebounding!

Under Contract Properties for Temecula Housing

April 2013 also reported the most properties under contract (in escrow within the past 12 months) at 226.  The average days on market is the lowest it's been during the past three years at only 29-days!  Another trend that is great for sellers but not so great for buyers is the months supply of inventory.  It's reporting at only 1.1 months!  There is a definite inventory shortage in Temecula.

Avg Days of Market for Temecula Housing

With the upswing in equity we're seeing people that were upside down and their only hopes were a Short Sale now have the option of selling their home as a Standard Sale.  If you know someone that is late on their mortgage or experiencing financial difficulties, have them contact us to see if they qualify for a discounted commission listing to help them get out of trouble.

We are still offering our Guaranteed SOLD Within 14-days or We'll Pay You $2,500 program to Temecula, Murrieta, Winchester, Menifee and Lake Elsinore homeowners.  Call us today and we'll have your home SOLD tomorrow.

This is Ryan Smith of the The Blasic Smith Team signing off until next time.....................

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer