Currently, there are 335 homes actively for sale on the market. The average price is $450,00, which is a 3% increase year-over-year. There are 167 homes that are under contract and pending, and these should close within the next 30-45 days. Additionally, we’ve had just over 200 closings so far this year! So, all in all, the market has been quite active so far this year!
One interesting thing we’ve seen is that one in five people who have bought a home so far this year were cash buyers. That’s not the only surprise: interest rates have fallen even though most experts have predicted them to rise! This news, combined with low gas prices, means buyers in the Temecula area have a whole lot of buying power!
Overall, we’re in a pretty good market. The playing field is pretty even for both buyers and sellers, so it’s not a bad time to make your move. If you’re interested in talking learning about the market in your specific area, or if you need assistance with anything real estate related, reach out to us today. We’re always available to help!
