Are you planning on buying or selling real estate in the Temecula or Murrieta area? If so, this video is specifically for you. As a real estate expert in these rapidly growing cities, I produce market updates every month. However, I believe this new video series, updated every 20 days, will be even more beneficial for both buyers and sellers.
In this series, I analyze the last 20 days of closed sales from the MLS in Temecula and Murrieta. In the latest video, I dive deep into the statistics to reveal:
- How many homes sold above list price
- How many homes sold below list price
- How many homes sold right at list price
I’ve also compiled a blog answering the top 25 questions people frequently ask about Temecula on Google. This resource will be highly informative and address many questions you might have. To watch the first video, click here. For part 2, click here.
Why Is This Important?
Understanding these trends is crucial for incoming buyers to avoid overpaying for a home. On the flip side, it helps sellers price their homes competitively. Here’s a snapshot of what you’ll learn in the video:
Key Statistics from the Last 20 Days
- Total homes sold: 73
- Sold at list price: 33%
- Sold above list price: 37%
- Sold below list price: 30%
Why Buyers Should Watch This Video
If you’re looking to purchase a home, these videos will provide you with valuable insights into market trends. You’ll learn:
- How much over list price to offer for highly desirable homes
- The characteristics of homes that sell for above list price, such as paid-off solar panels, recent remodels, and large backyards with resort-like pools
- Strategies for negotiating lower prices on homes that need work or have been on the market for an extended period
Why Sellers Should Watch This Video
As a seller, pricing your home correctly is essential. Overpricing a home that needs work can result in longer market times and lower final sale prices. This video will show you:
- The impact of home condition and location on selling price
- How to attract competitive offers by staging and making necessary improvements
Case Study Highlights
- Temecula Home Sold Above List Price:
- Location: Not ideal due to proximity to Butterfield Stage Road, a busy street.
- Positives: No carpet (all hardwood floors), well-decorated, remodeled kitchen, and a large, resort-like backyard with a pool.
- Result: Sold for $51,000 over list price.
- Murrieta Home Sold Below List Price:
- Location: Average, close to the 15 freeway with potential noise issues.
- Negatives: Needed significant work, evident from the condition of the patio and dead backyard grass.
- Strategy: Listed for $659,000, but sold for less after 117 days on the market due to the need for repairs.
This market is very local, and the real estate dynamics in Temecula and Murrieta can differ significantly from other areas. Whether you’re buying or selling, it’s crucial to stay informed about these local trends to make the best decisions.
Watch the full video for more detailed insights and real-life examples of recent home sales. Understanding these trends will help you navigate the Temecula and Murrieta real estate markets with confidence.
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