The chart shows the changes in prices on a year over year basis covering the last 12 months. Temecula ranks with the highest Median sale price, currently at $486,000, 13% change in a year over year review. Murrieta is next at $430,000, a 7.5% change, then Menifee at $367,500 with a 7.2% change. The Southwest Riverside County total shows $399,000 with a 8.1% change in a year over year basis. What is interesting with the individual cities is the recent uptick in pricing since the beginning of 2018. This seems to fit with what I am hearing from Real Estate Agents in the area as well as agents out of San Diego County. Why care about San Diego, that is where a significant number of buyers are coming from and they may be the catalyst for the increase in pricing, along with our friends from Orange County. The chart below shows that data.
Changes in Median Sale Price Over Last 12 Months Temecula, Murrieta, Menifee
Any thoughts, questions or comments, please contact me at either (909) 262-3434 or bradbassi@yahoo.com. I will be happy to discuss your particular residential real estate appraisal question. Thanks for your time. Brad Bassi, Certified Residential Real Estate Appraiser