Is Menifee, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Menifee has remained a Seller's Market.
Housing Prices in Menifee, CA
How much do homes in Menifee, CA cost?
Median Sold Price
$551,226
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Menifee was $551,226 in April 2024, up 1.1% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $186.5K | +0.8% |
2 Bedrooms | $375.7K | $363.8K | -3.2% |
3 Bedrooms | $525K | $530K | +1.0% |
4 Bedrooms | $600K | $625K | +4.2% |
5+ Bedrooms | $650K | $675K | +3.8% |
Summary: Menifee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
Quail Valley | $619K | $657.5K | +6.2% |
Wildomar | $605K | $630K | +4.1% |
Perris Valley | $539.9K | $550K | +1.9% |
Canyon Lake | $659.9K | $668K | +1.2% |
Menifee | $545K | $551.2K | +1.1% |
Housing Supply in Menifee, CA
How many homes are available in Menifee, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
527 | 504 | -4.4% |
Summary: The Menifee real estate market had 504 homes for sale in April 2024, a 4.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 123 | 121 | -1.6% |
3 Bedrooms | 181 | 163 | -9.9% |
4 Bedrooms | 158 | 148 | -6.3% |
5+ Bedrooms | 62 | 71 | +14.5% |
Summary: The Menifee housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 14.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
150 | 116 | -22.7% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Menifee in April 2024, down by 22.7% month-over-month. Of the 116 sold homes, 28% were sold under asking, 25% were sold at asking, and 47% were sold over asking.
Days on Market for Menifee, CA
How long does it take to sell a home in Menifee, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
43 Days | 30 Days | -30.4% |
Summary: Homes in Menifee had an average of 30 days on market in Apr 2024, down by 30.4% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 116 homes were sold in Menifee; 66% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.