Murrieta Real Estate Update for April
Category: Murrieta Real Estate Market
Published: Friday, April 08, 2011
The Murrieta Real Estate market has remained fairly strong over the last few months. The area has seen a slight decrease in inventory/listings and also a small decline in the number of homes sold. In march of 2010, Murrieta had 243 sold and it declined in March of 2011 to 216 (total units sold). Values in the area have remained very steady with a slight increase in value over the past year. The average sold price per square foot was as low as $95/ psf towards the beginning of 2009 and we are currently at close to $104/ psf in Murrieta. ** Keep in mind that this is taking the average for the whole Murrieta Real Estate market. Entry level homes in the area will have a higher price per square foot and the larger homes will have a much lower price per square foot.
My outlook of the Murrieta market is more of the same! It appears that the Bank Owned inventory will be somewhat weak compared to the last couple years and we'll continue to see a good number of short sales on the market. If the inventory does increase with more Bank Owned / REO property, we will likely see a small decrease in value. I don't expect any large decrease as values have been very steady since the large drop in the 2008-2009 time frame.
Is it a good time to buy in Murrieta? I believe it is! We are at or near the bottom and prices have stayed very steady over the past year. Will we drop some more?? It is definitely possible, but totally depends on if banks release more inventory. Even if they do release more inventory, I don't believe it will be a significant drop.
If you'd like more details regarding the Murrieta Real Estate market, contact Tyson Robinson and his team!
Other Recent Articles
A FREE homebuyer seminar is coming to Temecula on September 14th at 6pm. The seminar will be held in English at 6pm and in Spanish at 7pm.
Read More
Category: Videos
Published: Monday, August 15, 2011
Lake Skinner has a newly built water playground that is now open! The Splash Zone includes a large spray area with various water sputs in the form of a flower garden. It also has a seperate smaller water play area where the water pours out of a faucet and comes up from spouts in the ground.
Read More
$99 Flat Monthly Fee and we are waiving rent out through the end of October 2011. This is a huge savings! Contact us for details!
Read More
