The notorious year of 2012 has come. I hope you all had a terrific and safe new year’s eve and day. My kids enjoyed watching the ball drop this year, however I had to wake them up a few minutes before because they knocked out around eight o’clock. Hopefullywith a new year comes a difference in Temecula’s real estate market. The criteria for my stats are Temecula homes for sale, single family residences, detached with 3 bedrooms and 2 baths. Let’s see what 2012 has in store for us:
• Total Actively Listed On Market in January: 325
• Average Temecula Property Listed Price: $ 344,719
• # of Temecula Properties Sold in December: 156
• Average Sold Temecula Property Price: $ 314,006
• Average Days On Market Of Homes Sold in December: 97
Well, let’s look at Temecula’s property prices for both actives and sold. It looks like active prices had a small decrease from December’s $347,400 to January’s $344,719. However, the Temecula Valley sold property price grew from $297,760 to $314,006. Overall, that is a 5.45% increase. I say that’s a fairly substantial increase in sold price within the last month.
I also noticed that Temecula’s average days on market has grown from last month’s. November’s average days on market was at 85 and it is now a whopping 97 days in December. That is a 14.12% increase from month to month. And if we look at October’s DOM which was 81 days, you can see that it is continuing to rise. What does this mean exactly? This means it is progressively taking longer and longer to sell homes. Nevertheless, if we look back to March we see that this is a seasonal pattern. During the summer, Temecula real estate’s days on market decrease and during the winter and spring, the days increase.
I hope my Temecula real estate analysis and trends report for January 2012 has provided you excellent data. As always, I hope you and your family are safe. If you have any further questions, I am available via email. Feel free to contact me anytime.
Stefan West
The year of 2012 has finally arrived. With the new year comes new year’s resolutions and new beginnings. I hope all of you started out the year 2012 safe and healthy, ready to take on the new year. I myself have decided to get an early jump on my market reports for 2012. As usual, my market report is based on single family homes, 3+ bedrooms, 2+ baths, and detached. Let us see how Menifee did this new year:
• Total Number Of Actives Listed On Market in January: 263
• Average Menifee Home Listed Price: $ 223,935
• Number of Menifee Properties Sold in December: 75
• Average Menifee Sold Property Price: $209,054
• Average Days On Market Prior To Sale in December: 90
Hmmmmmm, so there have been a couple significant changes between January’s Menifee market advisory and December’s Menifee market analysis. The first item that grabbed my attention was the difference in the number of homes sold month to month. November’s Menifee properties sold was 58, a fall from October’s 68 homes sold. So, the growth from 58 properties sold in November to 75 properties sold in December is a substantial jump. In fact, it is a 22.66% increase. That is a fairly important difference. People were doing more than just looking inmalls this past December.
Now, after seeing the number of homes sold in Menifee, why don't we look at the average price at which these properties sold at. November’s Menifee market report showed that the average sold price was $225,949 while December’s average sold price was $209,054. That is a 7.47% reduction from November to December. However, if we look at October's market analysis, the sold price was $209,566. That explains that this reduction isn’t ground breaking. It looks like a normal fluctuation from month to month, especially considering the significant jump in number of Menifee properties sold.
I hope my Menifee real estate market statistics and projections help you with your home buying needs. If you have any other questions, don’t be afraid to send me an email. I hope you and your family had a great new years and I’m looking forward to filling your market report needs this year.
Stefan West
Dec. is here and all things Xmas are taking place - youngsters are seeing Santa (I propose the Lake Elsinore Outlet by the way - no wait and a wonderful Santa Claus), folks are taking time off, and lots are out going to the malls shopping! But that is not everything that folks are purchasing in 2012! I gathered the figures for December and the sales info for November and we can see a holiday season surprise this December.
I will keep this advisory short and sweet because I also have got some shopping to get done today! As usual, my advisory is primarily based on single family houses that are 3+ bedrooms, 2+ bathrooms, and detached - i.e. no condos or townhomes. No offense to those properties however I believe pulling a standard dataset is crucial to knowing developments and the basic Single Family is king in Temecula Real Estate Analysis. So let's see what the holiday season is bringing the Temecula real estate market:
Hmmmmmm.... what is going on here but a bump in Temecula homes sold from Oct to November 2011! We went from 140 in both Sept and October to 160 houses sold in November, the month of Autumn! That is a growth of 14.3% in what is generally a slow down month. The more fascinating aspect is that we haven't seen many closings since Aug and June which had been close to 170 and 160 respectively. That is rather impressive.
Paying attention to the other numbers, the number of active Temecula homes on the market dropped from 352 in Nov to just 315 in December, a drop of 10.5% in supply. However, the typical listed price slightly shifted at all, staying at the $347,000 range. As for the actual sales or closing cost, it grew from $295,890 in Oct sales to $297,764 in Nov sales, a marginal improvement. Lastly, the days on market (DOM) has pretty much stayed identical changing from 81 days for Temecula October sales to 86 days for Nov sales.
I will definitely forecast that we may watch a decrease in sales this month than in November. Santa is a giving guy but it is still Christmas and I assume that people do not have the time or inclination to shop for houses as aggressively as they had in Nov. Nevertheless, I }wouldn't~would not} have expected November to be such a good month either. I will say I continue to be busy and have a couple houses closing before the end of the year as do a number of my agents - so we will have to wait :).
That finishes my December advisory for the Temecula Valley Real Estate Analysis and Projections. I hope you and your family have a fantastic Christmas and Happy New Year! See you next year!
Happy Holidays!
Stefan West, Broker/Owner of West Realty
What a great month for the city of Menifee!
The climate is fantastic, the purchasing crazy, and the holiday spirit is in full effect. As we get nearer to 2012, people continue to ask me how real estate is doing. I think the election, the stock market, and the real estate market are really on everyone's mind at this time of year. So I have brought my numbers together so you can keep up to date on the Menifee real estate industry.
As you most likely know, my numbers are gathered based on single family homes, 3+ bedrooms, 2+ baths, and detached in nature. This will exclude condos and townhomes but I think it to be the finest indicator of the real estate industry. Let's take a look:
These amounts match what I expected for the standard slow down as the holiday closes in. Ironically, when I created my Temecula Valley real estate report and trends, I was surprised to see an increase in closings month to month. But in Menifee we see a far more common decrease in closings from 68 in Oct to 58 in November, a drop of 14.7%. We also noticed an important decrease in sales moving from Sept to Oct - so I am careful with pricing at the moment.
Having said that, pricing of Menifee properties sold actually went up generally, from $209,560 the previous month to $225,950, a 7.82% growth in sold pricing. This pricing difference continues a trend for 3 months now however Nov was by far the greatest leap. Supply has remained almost precisely the same and days on market rose from 78 the previous month to 85 days this month. So the significant change in avg. sold cost is a shock knowing that sales figures are lower, no difference in supply, and that it is taking homes more time to sell.
That closes your Dec. Menifee Real Estate report! I hope the holidays are terrific for you and your family members and wish everybody a very Merry Christmas!
I know it is a little bit past due but here it is - your Menifee Real Estate Market Report for November 2011! I had to absorb the holidays and all that food before I was able to bring myself to post this. Actually, I was gone for a quick weekend and the real estate market in Menifee has grown incredibly active! Congrats to Stephanie and Rudy on their new Menifee house by the way!
I will make this report pretty fast but will be contrasting it with my Menifee Real Estate Trends Report for October to see any recent changes. Despite the fact that I am writing after the fact, the figures were taken in November for this report. As usual, I concentrate on single family houses, 3+ bedrooms, not attached, etc. Maintaining a consistent standards is the core of this article.
Seeing this report, it appears that things are slowing as we come up to the year's end. This is not unusual but it does differ with my Temecula Real Estate Market Report that shows the exact same amount of Temecula Valley houses closing in both September and October - ie., no true slowdown. In October, Menifee property sales decreased from 95 units in September to only 68 units in October, a drop of 28.4% month over month. That is a fairly significant difference!
Nonetheless, supply has also fallen from 300 active Menifee Houses in October to 247 in November, a 17.66% reduction in available inventory. That is also an important reduction of available homes. Going backward for a minute, we can see that both the average Active list cost and average Sold price have gone up. The active list was $218,344 in October and is now $223,450 in November, a change of 2.33%. The average sold cost grew from $206,600 in September to $209,566 in October, a minor 1.43% difference however still an upward difference in both statistics.
It looks like we are having a shrinking in the market on the supply side. We are also seeing a constriction in the consumer or demand side as well. I know standard and bank owned homes are leaving very fast if they are in decent to superb shape. So this suggests that banking institutions are minimizing supply and the flippers are slowing down a tiny bit. However the prices have held steady and slightly grew so we may have hit a significant balance. Having said that, I don't like to see closings figures down that significantly over the fall in supply. I would argue for decreased pricing but however, as of right now that isn't the situation given that supply is far more restricted.
This shows two months in dropping sales figures for Menifee home sales. But pricing is holding rather well and I am extremely interested to see what develops in December actives and November sales in my upcoming article. Meanwhile, I hope you all had a fantastic Menifee Turkey day and are currently putting on your Xmas lights!
Sincerely,
Stefan West, Broker for Menifee Real Estate and Temecula Homes for Sale!
 |
|
|
Professional and dedicated Real Estate Broker specializing in the communities of Temecula, Murrieta, Menifee, Wildomar, and North San Diego County California.
My philosophy is simple: Put my clients first, everytime.
This is not sound-bite marketing. I truly believe by doing my absolute best for each and every client, I will get more business, meet more great people, and have a much better quality of life. It isn't about the finances, it is about having a simple and focused purpose that makes my job one of the best in the world.
My education and career background and how it helps my and my client's success.
Prior to beginning my Real Estate career, I graduated from Pepperdine University in Malibu California with an International Business & Marketing Degree. My core focus was in International Negotiation and Communication.
Career wise, I started with Farmer's Insurance in the Management department. I focused on working on the corporate side for home and life insurance lines. From there I moved into Product Marketing for high technology. I quickly moved through the ranks to marketing manager, and then Director of Marketing for all domestic product operations.
When it came time to start a family, my wife and I looked to the Temecula, Murrieta, and Wildomar area and fell in love with the community. I had already started my real estate business in Oceanside, CA and my success there translated very well up here. Fast forward 7 years and I have 2 crazy boys (4,2), 2 dogs, 1 cat and a wonderful community to share my family with.
My Success in Real Estate and Becoming an Expert in my career
Both my business and marketing background have translated extremely well to Temecula CA Real Estate. Those skills are part of the package they hire. After being a top producer in Real Estate since 2001, and then obtaining my broker license, I realize how much my education and prior business experience has played a role in my success with my clients and in business.
Ultimately, my long term success is based on the trust of my clients and the success of my efforts on their behalf. I work extremely hard to offer them the very best representation. I want them to have exactly what I would ask of any top specialist I would hire to work for me, namely, dedication, integrity, and expert knowledge in their field.
Please visit my site at www.stefanwest.com for more information, articles, or to search MLS completely free and easy for all of Riverside and San Diego Counties.
My area of expertise is primarily residential Real Estate in the Temecula, Murrieta, Wildomar, Menifee and North San Diego CA Real Estate. As a San Diego life long native, I have lived in the communities of Escondido, Mission Bay, Carlsbad, Vista and finally Oceanside. I know San Diego extremely well from North County to Downtown.
However, I made the move to the Temecula Valley in 2002 and have been thrilled with the community, people, and overall atmosphere. Over the last 7 years, I have put in the time, energy, and work and become a Temecula, Murrieta, Menifee, Wildomar real estate expert. I also know all the surrounding communites and the special needs of people moving from San Diego to here. Additionally, a large percentage of my clients are executive, military and eldery relocation clients. They have been an absolute joy to work with. It is easy to sell something you love and this is a great place to live!
Here are just a few of the comments I have received from my clients. Please visit my Temecula CA Real Estate website or my Murrieta, Menifee, and Wildomar CA Real Estate website to learn more:
04/18/11 - "We immensely appreciated all your efforts & wonderful support in making this a reality!" - Ed and Brandi S.
03/29/11 - "Thanks agian for all of your hard work. You're great!" Patricia G. 03/14/11 - "We just want to say thank you so very much for your assistance in helping us to acquire our dream property. It was a joy and pleasure working with you." - Larry and Sally G.
11/12/10 - "Stefan West and West Realty served my wife and me excellently in our recent efforts to find and buy a home in the Temecula / Menifee area. I am demanding when it comes to service providers - in fact I own a business that does nationwide evaluations of service. I have worked with over a dozen realtors in my life, buying and selling 6 homes. Some were fair, some were good, some were very good...but Stefan was the best. Peter T.
We were working from a distance - Philadelphia. We emailed him our long list of specs. He asked good follow-up questions and then quickly arranged to email me daily links to online lists of homes that were good fits for us.
We flew out in February 2010 and Stefan spent a whole morning showing us homes and the area. He was polite, personable and very customer-oriented. His listening skills and knowledge of that general area were impressive. In addition, he knows many of the tax rates and was able to help us factor real estate taxes into our rankings.
Months passed and then we flew out in mid September. We told him homes and areas we found especially interesting. He printed out sheets about them and other homes he thought we'd like, including more information than we could find online. Contacting the selling agents to arrange for showings, it was obvious he knew how to make things work well for all parties and had good relationships with many of them.
When we narrowed it down to two homes, he helped us weigh their relative merits but left all final decisions all up to us. He helped us make a low offer and helped us envision how our offer would be compared with other offers the seller might be receiving. He stayed on it diligently until our offer was accepted. Then he helped with recommendations for financing, inspection and other things, always in an unbiased way and based on experience with many other transactions.
The sale went to closing without a hitch. For all the reasons cited above (and more), we are very happy to recommend Stefan and West Realty to anyone looking to buy or sell a home." -
9/3/2010 - "We found Stefan West through a friend at work. We were looking for our first home so it was a bit scary and we definitely did not want to make the wrong choice. Finding Stefan was the best thing that could have happened to us. If it wasn't for his extra mile effort, we would not be living in that home right now. It was a very difficult short sale deal but he pulled it off. He was excellent at keeping us informed of everything that was going on and that helped us with the stressful time we were going through.
8/17/2010 - We met initially Mr. West through a friend while we were 'shopping' for houses online. We were living in Japan at the time and looking to purchase a house upon our return to the States. We had already been through two agents from a big name bank and we were not getting the results we wanted.
Once we got in contact with him, Mr. West immediately sent us a current list of homes that actually met our requirements and made time to talk to us on our schedule from overseas. As soon as we arrived Mr. West called us to find out when we had free time so he could take us around and show us the houses we liked from his lists.
From that point forward, Mr. West was always leaning forward, taking initiative for everything that we might need, remaining available to us for any questions and diligently making liaison with the other agent, our bank, and our escrow company. He made our first home purchase easy and painless. If we ever purchase another home Mr. West will certainly be our agent once again. I would gladly and enthusiastically recommend him to anyone looking to buy a home in Southern California. - Janet Z.
My wife and I moved to Murrieta, CA in October and Stefan was our Murrieta real estate broker and the man! He did an excellent job for us!
We moved from TN and started looking at Murrieta real estate on the web. We tried to contact several realtors but Stefan was the only one in the Temecula and Murrieta area that immediately responded. He e-mailed us and then called us long distance to discuss our needs.
We decided that since he had been so helpful over the internet and by long distance we would use his services. We had a date to do a week long house hunting trip planned and but our TN home closed early, therefore we needed to move up the date. Stefan had a vacation planned but he rescheduled just so he could help us find a new home in Murrieta! - S. Gould
My wife and I have moved several times and know what we want. Stefan was very professional and organized and only took us to homes that met our qualifications. We looked at about 20 Murrieta and Temecula homes that first day and then more the second and third day. When we found a house in Murrieta CA that fit our needs, Stefan expedited a quick transaction and did a great job for us.
I am writing this note to let people know that I believe that Stefan West is a highly motivated, well organized professional and just happens to be a joy to be around! I would recommend his Murrieta Real Estate services to anyone that needs to buy or sell a home in the Temecula Murrieta area! - Steven D.
My wife and I are very excited to be in our new Menifee home. But that's not the only thing we've accomplished. We also found a great real estate professional, person, and friend. His name is Stefan West, and he was very diligent in helping us to find and buy our very first home in Menifee, CA Thank you very much, Stefan. We really appreciate all your effort and help.
- Giovanni & Reyna P - Menifee, CA
We are pretty much settled in and are looking forward to celebrating Christmas in our new Temecula home. Thanks again for all the work you did to make this happen. You are responsible for us being in our home today. I am sure that if we had any other agent that the deal would have fallen through and we would have had to settle for another house. Thanks also for reassuring us during a very stressful time.
- Paul Coale
I just wanted to thank you for a job well done! As a military officer and single father, I appreciate you working so hard to make purchasing (site-unseen) our new Temecula home a pleasurable and trouble free experience. All your late night phone calls, emails, photos and videos made our Temecula real estate purchase wonderful. Your impeccable work ethic and professionalism ensures that you will be recommended to all my military and civilian friends. - E. Selva, USN
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
