Alright, here is your January, 2025 real estate market update. I'm going to get into all the information for the cities of Temecula, Murrieta, and Menifee, California. We're going to talk about average sales price, how many homes are coming up on the market, how many homes are available for you to choose from, and then how long the average homes taken to sell. 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 a short real estate team here at Keller Williams in Temecula, California. And this video is our monthly staple. This is our monthly market update. So we're going to go over all the latest stats for the cities of Temecula, Murrieta, and Menifee, California. And we're going to compare them to 12 months ago and hopefully be able to give you some frame of reference about how the market has changed, how it hasn't changed.

And I'll give you some kind of some information about what we're seeing on a daily basis as real estate agents as well. So before we get into all the information, if you are liking real estate videos like this, please do me a favor, please, like please subscribe to the channel. Obviously it helps me, it helps my channel as we try to continue to grow it. And then if you guys have any real estate questions, you can reach out anytime. So you're going to see my information either at the end of the video or down below. You can feel free, you can call, you could text, or you can email me. That is my personal cell phone. So you'd love to hear from you, love to help point you in the right direction. Or of course if myself and my team can help you out with your real estate search, we'd love to help you do that as well.

So, alright, so we're going to start with a total number of new listings and we'll start in the city of Temecula. So over the last 30 days in Temecula, we've seen 62 new listings pop up on the market. And then if we compare that to a year ago, we saw a total of 66. So basically just four or less new listings this year as opposed to last year. It's a 2% change. I mean it's pretty minuscule, so not really super significant. So overall in Temecula, the new listing inventory is staying about the same. Murrieta, we saw a little bit of a bigger change. So over the last 30 days we've seen 73 new listings coming up on the market. And then a year ago we saw 91. So that's a 22% change. That's definitely a bigger variation. And then for the city of ee, the last 30 days we've seen 105 new listings.

And if we compare that to a year ago, we saw 96 or only 96 popping up on the market. So now that's a little bit bigger change, about 9% or so. So overall the total number of new listings, it's kind of varying a little bit for the cities, but more or less about the same myriad is the biggest change, but less than a hundred new properties popping up on the market in a given city that has a population of over a hundred thousand people, that's not very many new listings coming up on the market overall. Alright, so the next stat we're going to talk about is the total number of active inventory. So basically this is just the number of available properties that are for sale in a given city. So if I wanted to buy a home in Temecula, how many homes do I have to choose from?

So right now in Temecula there's a total of 208 available homes for sale. A year ago the number was 213 available homes. So there's five less properties this year as opposed to last year. That's really not a very significant change, 2% difference in Murrieta, it's a little bit more to choose from. So right now there's a total of 308 homes to choose from. And a year ago we were at 287, so that's an 8% increase in inventory. And in the city of Menifee right now, there's a total of 342 homes to choose from. And a year ago we were down to 2 75. So that's a bigger jump, that's a 22% change. And this is kind of an interesting stat because over the last few months we have seen the active inventory go up and up and up. This month we're actually seeing that number decrease a little bit and we're seeing less of a change as opposed to what it was 12 months ago.

So this is an interesting stat to keep an eye on over the next couple months as inventory continuing to sit. Are those active listings continuing to pile up or is the market starting to pick up and that inventory starting to get ate up by home buyers? So this is probably the one I'm watching the closest, so I think it'll be interesting to check out. Alright, so the next stat we're going to talk about is the average days on market. So in Temecula right now, the average home is selling in 25 days. And if we compare that to a year ago, the average home was selling in 19 days. So that would still be considered a really heavy seller's market. Less than four weeks is the average home selling it is a 27% change, but still very heavily towards the seller's market. City of Murrieta homes are taking a little bit longer.

The average home is taking 38 days to sell. And then if we compare that to a year ago, that number was at 36 days. So two days longer this year compared to last year, not much of a change. And then in Menifee we are actually seeing home sell sooner. So right now the average home is selling in 41 days, and a year ago that was out to 46 days. So just a little bit faster. But overall the average days on market for each city is pretty much the same year over year. Alright, so the last stat that we're going to talk about is the average sales price. And this one we actually, we have some variation between the cities. So Temecula, we're seeing a big jump up in average sales price, but not the case in Myta and Menefee. So right now in the city of Temecula, the average sales price for a home is about $875,000.

And if we compare that to a year ago, it was only $769,000. So that's a 14% change. That's a pretty big jump up in 12 months. Probably not a true indication of how much homes have appreciated, but I definitely think it's safe to say homes have gone up in value over the last year in Temecula. Worst case flat line, but probably gone up a little bit, 3% or so on average. So 14%, it's a big number. It's probably more of an indicator of a handful high-end homes and a handful of low end homes maybe not selling that's showing that big increase, but it's a big number. So 14%. So something to keep an eye on. City Marietta a year ago, the average home or currently we'll start with currently, so city Marietta, currently the average home was selling for $690,000 and if we compare that to a year ago, the average home was 720,000.

So that's a 30 grand increase, 30 grand decrease year over year. So that's a pretty big jump. That's 4%. It'll be interesting to see how that stat averages out over the next couple months. And then city of Menefee right now, the average home is selling for $525,000 and a year ago that was at $555,000. So that's a $30,000 decrease in average sales price. So I think these sets can be a little bit misleading. So I don't think Temecula homes have appreciated 14% in the last year, and I don't think Murrieta and Menifee homes have decreased at all in value. I think that there's some high-end homes either selling or not selling, some low end homes selling or not selling that are kind of throwing off those averages across the board, like when we're running numbers for clients and whatnot. Home seed to be appreciating just a little bit year over year.

Homes kind trending up over what they were a year ago. And keep in mind that has happened with even this high interest rate environment. So interest rates are still right around 7% high, six to 7%, they're still quite a bit higher than were a couple years ago. A lot of people are expecting that interest rates will drop at some point, but we've kind of been waiting for that for the last long time now, so hasn't quite panned out that way. But the thought is as interest rates come down, homes get a little bit more affordable and there's a good chance that might cause home prices to go up a little bit. Worst case flat line, but if not, continue to go up a little bit year over year. So it'll be interesting how to see how this year unfolds. Obviously no one quite knows for sure, but I can tell you myself as a real estate agent, the agents that are on my team, my other friends that I have in the industry, we're definitely seeing an increase in activity, whether it's buyer activity or just client calls that we're getting, especially over the last few weeks now that we're getting through the holidays and everyone's getting into the new year, definitely a lot of people that seem to be getting back in the market want to buy, thinking about selling and at least having those conversations.

So it'll be interesting to see how the market shapes up over the next handful of months. So hopefully that's good information for you guys. If you have any questions, you can feel free to reach out, you can call, you can text, you can email me, and hopefully I will talk to you soon. Thanks. Bye.