All right, here is your March, 2025 real estate market update. 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 average sales price, how long homes are taking to sell, and what's going on with inventory. 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 a short real estate team here at Keller Williams in Temecula, California. And this is our monthly staple video. This is our real estate market update for March, 2025. So we're going to go over all the latest stats over the last 30 days and keep you guys updated, what's been going on here locally, and then we'll compare today's stats versus year ago to help give you a good idea of how the markets change and give you a better idea of exactly what's going on.

So before we get into all the information, if you can do me a favor, please hit like please subscribe to this videos if you want to see more. We have new videos that we put out each and every week, so you can stay tuned for those. We have market updates like this. We have information in comparing different neighborhoods, Temecula versus Murietta, best neighborhoods, worst neighborhoods, different schools, all types of different stuff. So you can definitely check that out. And then if you have any real estate questions, of course, would love to hear from you. So you're going to see my information either down below or at the end of the video. You can feel free, you can call, you can text, or you can email me. Happy to answer any questions you may have or help point you and your family in the right direction.

Or of course if we can actually help you out with your search, we'd love to be able to help you out with that. Obviously, that's what we do for a living, so we'd love the opportunity to help you if you are looking to purchase a home here locally. So cool. We're getting all the stats. So we're going to start with the first stat is the total number of new listings over the last 30 days, and then we're going to compare that to a year ago, and we'll start with the city of Temecula. So city of Temecula, we're seeing a few less listings this year compared to last year. So last year we saw a total of 138 new listings come up on the market. This year we're at 127, so I mean it's nine less new properties coming for sale, but it is an 8% decrease.

So it's definitely something to pay attention to. This is something that we saw over the last couple months as well. Significantly less new listings in Temecula, but it's kind of interesting because the other two cities have gone the other way. So City of Murrieta, a year ago there was a total of 146 new listings that were put up for sale this year. We're now at 152, so six more homes this year than last year. That's a 4% increase. And then Menifee had the biggest change. So a year ago there was 147 new listings coming up on the market, and this year we're at 194, so that's a 32% increase. That's a pretty big difference year over year, and we'll get into the next step. Alright, so the next stat we're going to talk about is the total number of active listings that are currently available.

So basically this is just how many homes are available for sale in a given city, how much inventory is sitting out there, all three cities across the board. Inventory is definitely up year over year, which means more homes are out there, which also means more homes are sitting for buyers to be able to take a look at and have an option to buy. And especially with Temecula, we had less new listings coming up on the market, but there's still more that is sitting. So the stats look like this. So a year ago in Temecula there was a total of 243 available homes to choose from. This year we're at 298 available homes to choose from. So pretty close to it's over 50 homes that are on the market this year that weren't there last year, so that's a 20% increase. City of Murietta, a year ago, there was a total of 305 available homes this year we're up to 376.

It's a pretty big jump. 71 more homes this year than last year. It's a 23% increase. And then Menifee, last year there was 296 available homes to choose from, and this year we're at 425. So that's a 36% increase. That's a ton. It's a hundred and 131 more homes to choose from this year compared to last year. So it's kind of interesting with the inventory, we saw more homes coming in, in Menifee, less in Temecula, but across the board, more homes that are available to choose from, which means homes that have been listed over the last couple months are sitting a little bit more. I think that's going to take you into the next stat, which is the days on market. So we'll get into that. Alright, so the next stat we're going to talk about is the average days on market for each city.

And basically what this is, we're looking at each city. If you gather all the homes together and you put pile 'em all together and average amount on average, how long is the average home taking to accept an offer and sell? Get into escrow? So the shorter days on market tends to be more of a seller's market. That means if I'm going to put my home for sale, it's going to sell super quickly. Maybe I'll get multiple offers, right? It's more of a competitive environment. The longer days on market tends to be more of a buyer's market, right? Homes are going to be sitting, you're going to start seeing more price reductions. Sellers are doing more things to make their home stand out. They have to be more aggressive, price wise, etcetera. So a year ago in the city of Temecula, the average home was selling in 24 days.

So that would definitely be considered a heavy seller's market. This year we're now up to 36 days, so we're still just barely over a month. Percentage wise, it's a pretty big change. It's a 40%. Homes are taking 40% longer to sell in Temecula. Granted, when we're under 60 days, it still would be considered a seller's market. I think we were getting closer to more of a balanced market, but still 36 days, that is pretty dang quick still for Temecula. So city Murietta, a year ago, the average home was selling in 36 days. We are now up to 51 days. So that's a two week increase. It's a 42% increase in how long the average home has taken to sell. So that's a jump. You're getting closer to 60%. I think you're definitely getting closer to that balanced market where sellers don't necessarily have the leverage.

A year ago in Menifee, the average home was taking 43 days to sell, and this year we are now at 52 days to sell. So again, inching up closer, closer to 60 days, it's a 21% increase, but for sure across the board, homes are taking longer to sell this year than they were a year ago. And then the next step we're going to talk about is pricing. So what's going on with average price point? Alright, so average price point. So across the board, all three cities have seen an increase in average sales price year over year. So Temecula, you can see the biggest change. So a year ago, the average home in Temecula was selling for $764,000. This year the average home is selling for 947,000. So that's a huge jump, right? I mean it's $180,000 price increase year over year, probably not quite an accurate stat.

It's a 24% increase. Homes values did not increase $180,000 in Temecula. So there's probably some outliers, there's probably some low sales year ago. There's probably some high sales this year that are kind of changing the averages. But in general, it's definitely, I think it's pretty clear to see that the average home prices have gone up in Temecula year over year. And you've definitely seen some appreciation and they've done that despite high interest rates, 7% interest rates, they've done that despite a little more inventory sitting up on the market home's taking a little bit longer to sell, you're still seeing that average price point go up and continue to tick up in Temecula. So a year ago for the city of Murietta, the average homes were selling for $688,000 and this year you were up to $729,000. So it's a 6% increase. That's probably more in line with what I see as a real estate agent.

Homes have gone up 20, 30, 40, $50,000 even. This might be a little bit high, but it definitely have seen, we are seeing home prices have gone up. And again, that's happening even though affordability is where it is. So menifee kind of same trend, although a little bit less. So a year ago the average home was selling for 577,000, and this year they're now selling for hundred and 87,000. So that's a $10,000 price increase. So 2%. So across the board, pricing is up, inventory is sitting, more homes are out there to choose from the average days on market continue to continue to tick up.

I guess the one disclaimer that I'll have here is when I go over these stats with you guys, this is a little bit of a lagging indicator. So these are stats over the last 30 days. So these closings take a while to get into the data that we look at, right? I can tell you as a real estate agent and a real estate team, and here in my office and other agent friends that I have when I'm talking with them, it's early March right now, but over the last couple weeks we have seen a little bit of a tick up in activity. So we're seeing more buyers out, we're seeing more offers that are coming. I have seen a handful more of multiple offers situations on nice homes. So it is getting a little bit more competitive. So it'll be interesting to see how these stats change over the next 30, 60 days as some of that starts to play out. So hopefully it's good information for you guys. If you have questions, feel free to reach out. You can call, you can text, you can email me, and hopefully talk to you soon. Thanks.