Alright, so here is your November, 2024 real estate housing market update video. We're going to go over all the latest stats for the cities of Temecula, Murrieta, and Menifee, California. We're going to talk about how the market has changed over the last couple months and what we're hoping to see as we move forward. So let's go ahead and get into it. Hey guys. Hey again, my name is Justin Short. I'm a realtor and team leader with the short real estate team here at Keller Williams in the Temecula, California Murrieta California area. And this video is our monthly staple. This is our monthly market update. We're going to go over all the latest stats here in the real estate market for the last 30 days. We're going to talk about Temecula, California, myriad California, and Menifee, California. And we're going to compare today's stats versus where they were a year ago and hopefully give you guys some good perspective on how the market has changed.
And then I'll give you some of my perspective as a real estate agent, as a real estate team, and then our office, kind of what we're seeing on a day-to-day basis. So before we get to all the information, if you are liking real estate videos like this, do me a favor, please hit like please hit subscribe. Obviously it helps me, helps my channel as we're trying to continue to grow. And we have new videos that we put out each and every week so you can stay tuned. We have new ones, like I said, every week that we'll be putting up with new information and hopefully it's something that's helpful for you guys. And then if you have any real estate questions, you can feel free to reach out anytime. I have people that reach out that you can call, you can text, you can email me, you're going to see my information down below.
Or at the end of the video. I'm happy to ask any questions, happy to point you in the right direction. Or of course if we can help you out with your home search, we'd love to help you do that as well. So we'll kind get into all the stats here. We're going to talk, we're start with the total number of new listings. So we're going to go by city and then we'll compare it to what that number was a year ago to give you some reference. So in the city of Temecula right now, over the last 30 days, we've seen a total of 121 new listings pop up on the market. And if we compare that to a year ago, we saw 128 homes. So that's a 6% decrease this year over last year. So we're seeing slightly less new homes pop up on the market today.
And this is, just so you guys know, this is pretty open. So this is just total number of available new listings. So if you want to buy a home in Temecula, how many new homes are you going to have to choose from this month? So in this case it'd be 121. So less listings this year compared to last year, city, Murrieta, you kind of see that same trend. So right now, the last 30 days we've seen 140 new listings pop up on the market. And then if we compare that to a year ago, there was 147 new listings coming up on the market. So it's a 5% decrease. So a little bit of a tick down there. And then in Menifee this last 30 days, we've seen 150 new listings come up on the market, but last year we only saw 128. So we're actually seeing more inventory coming this year for Menifee.
So at a 17% increase compared to what we saw last year. Alright, so the next stat that we're going to talk about is the total number of active and available listings. So basically this is you as a home buyer. If I want to buy a home in the city of Temecula, how much inventory is there to choose from? How many homes do I have to pick from to find my right home? And this is going to be, I think this is the third month now that we've seen this trend to where we are seeing significantly more active and available inventory today than we saw a year ago. And we've seen that trend. Yeah, really the last 90 days. So it'll be interesting is as we're now the beginning of November, so as we get to election and post-election, if we start to see that market change, if the market loosens up a little bit, but when we are seeing, we're not seeing very much inventory come less than a year ago for at least for Temecula and Murrieta.
So not as much new inventory coming up in the market, but we are seeing more inventory sitting, so more available homes to choose from. That really shows that the total number of transactions, the total number of homes that are selling each month are shrinking. We are seeing less sales. We've seen a market slow, this can be seasonal for sure as we get out of summer, that's kind of your peak real estate time, at least in this area. We see the most homes sell spring and summer. So as we get in default, we see the market slow a little bit. And then we do typically see when we have a big presidential election, we see the market slow down a little bit. We see people back on their heels, maybe some indecision on if buying a home today is the right thing for them to do.
So it'll be interesting that once this election comes, if we start seeing the market pick up and move a little bit faster, I know a lot of people are kind of waiting for that to hash out. It's kind of a interesting thing for me. I mean, as a real estate agent, I mean whoever wins, whether it's going to be red or blue, whatever it is, whoever you vote for, the home values in Temecula, California are not going to change the next day. So it's not going to impact us too much directly eventually in six months a year. Could some of those policies affect what happens with our overall economy and home values? Yeah, sure, definitely. But it's always kind of interesting how people go on their heels and then a week later they decide, well now we can buy a home because my guy won or my girl won, whatever it is.
So just kind of interesting phenomenon to me, but we'll get into the stats here. So a year ago in Temecula there was a total of 274 available homes for you to choose from. And then this year right now in Temecula, we are now at 315 available homes to choose from. So that a pretty significant increase. I mean that is a 15% increase in available inventory that's 40 more homes today than a year ago. That's pretty significant. Murrieta, Menifee, you're going to see even greater changes. So a year ago in Murrieta, there were a total of 302 available homes to choose from and this year there's now 392 available homes to choose from. So 90 more available houses and that's a 30% increase. So that's a huge change, right? 30%. That's probably one of the biggest changes I think I've ever seen in the total number in this total number of available inventory Menifee.
A year ago there was 307 available homes to choose from and this year there's now 396 available homes. So it's a 29% increase. But I mean just raw numbers, I mean that isn't 89 more homes to choose from today then there was a year ago. So I mean it's definitely super significant. We'll go ahead and move on to the next stat. Alright, so the next stat we're going to talk about is the average days on market for each city. So basically this is, hey, in a given city, so city of Temecula, how long is the average home taking to sell? And then we'll compare that year over year. Again. I think it's a good trend on shows how the market changes and what's going on on a daily basis. I'll give you the spoiler here, the numbers have not moved very much over the last year.
So I was a little bit surprised at this. The average on market's very, very similar to what it was a year ago. So what that means is the homes that are coming up on the market are selling still just as quickly as they were. But as we saw a minute ago, not all the homes are selling. So there is more inventory of homes that are sitting. I do think over the next couple of months, as some of those lagging homes start to sell, you'll see this days on the market trend up, but the homes that are actually selling are on average selling about the same time that they were a year ago. City of Temecula, a year ago, the average homes were selling in 25 days. Temecula. Today the average home is selling in 26 days. It's a one day change pretty insignificant on your average days on market.
A year ago, city of Murrieta, the average home was selling in 29 days. This year we're now up to 32 days. So now three days longer. So not super significant, I mean I guess 10%, but I mean it's a few days, not really much of a needle mover. And in Menifee, a year ago the average home was selling in 35 days, and today we're now selling in 36 days, so one day longer. So like I mentioned, these are very similar stats to what we saw a year ago. Not really reflective on what we're seeing on how quickly homes sell. Again, I think this is a little bit of a lagging indicator. So I think you'll see this number go up over the next couple months as some of those homes that have been sitting for a hundred days, 120, 140 days start to sell off.
So it's just something to pay attention to and it's interesting to me. But one thing to point out is one of the things we do look at the stat, I do think it's super important, and this really tells us, hey, are we in more of a buyer's market, more of a seller's market when we have home selling, on average about 30 days or so, that is definitely still considered a seller's market. Once we get over the 90 day mark, will we really be considered more of a buyer's market? So we're still pretty far away from that and really we typically don't see a decrease in pricing until we get over that 90 day mark. So we're not close there. So it's again, an interesting set to keep an eye on and we'll see how it plays out over the next couple months. Alright, so the last stat we're going to talk about is the average sales price.
So this is just what the average sales price is in each city. And again, we're going to compare that to what it was a year ago. And across the board, all three cities, the average sales price has gone up over the last 12 months. So again, even though we are seeing more inventory, sitting more available homes to choose from, we are not seeing any type of a decrease in pricing. Actually, we've seen the opposite. We've seen an increase. So we'll get into the numbers. So a year ago in the city of Temecula, the average home was selling for $825,000, and this year the average home is now up to $910,000. So that's a super significant increase, right? That's a $85,000 increase, that's a 10% uptick in your average sales price. I don't think home values have gone up 10%, nor do I think they've gone up $85,000 in the last year.
So there's going to be some outliers. I know we've talked about that before. The low sales price can trend the numbers down. A few high end sales prices can take this average and jack it up. So it's not always an apples to apples comparison when we go that year over year. However, I do think it's fair to see that the trends we are trending to at home prices have gone up over the last year, maybe just not 10%, but that's a pretty big jump there. So Murrieta, the city of Murrieta, we're seeing increases and we saw the same thing in Menifee as well. So in Murrieta, a year ago, the average home was selling for $707,000. This year they were selling for $731,000. So that's a 3% increase, but still that's over $20,000 uptick in average price. So that's definitely significant. And then the city of Menifee, a year ago the average home was selling for $557,000, and this year we are up to $576,000.
So that's a 4% increase and again, another 20 K, almost 20 K in average sales price. So I think that 3% to 4% is probably more in line with what we're actually seeing. I think the 10% is kind of an outlier. Some of those big sale prices might be jacking up the price there, but in general, you're seeing home prices have gone up over the last year despite a slowing market, despite not as many home sales, despite inventory sitting a little bit longer. So it'll be something to pay attention to over the next few months as the market continues to change. So hopefully it's good information for you guys. If you have questions, you can feel free to reach out, you can call, you can text, you can email, and hopefully talk to you soon. Thanks.
