California

California Median Home Price

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April Home Sales and Price Report

Statewide median home price climbs,

breaking $500,000 for first time in nine years!

April’s statewide median home price was $509,100, up 5.3% from March and 5.1% from April 2015.

C.A.R.’s Unsold Inventory Index, which indicates the number of months needed to sell the supply of houses currently on the market at the current sales rate, slipped to 3.5 months. A 6-to-7 month supply is considered typical in a normal market.

According to C.A.R.’s sales to list price ratio, tight inventories appear to be driving final sold prices closer to listing prices, with sales prices rising to 99.3% of listing prices statewide.

The median number of days it took to sell a single-family home fell in April to 27.7 days, compared to 29.9 days in March.

Taken from CAR.org  5-18-16 All information deemed reliable but not guaranteed. For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant.

Median = half more/half less

Find out what this means to the value of your home in Southwest Riverside County.  Temecula, Murrieta, Menifee, Hemet, Winchester, Wildomar, Lake Elsinore & French Valley.  We are available by phone, text and email (951) 522-0518, april@teamgreer.com

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Sold In Menifee,CA By TeamGreer

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Looking for a change?  Whether you are Buying or Selling we can make your goals happen in 2016.  Give us a call, text or email anytime…april@teamgreer.com or 951-522-0518  Ask for Gary and April Greer!

What is Probate, Temecula Valley, California?

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Probate is a scary word in real estate since it is not a majority sale type.  Agents and Buyers have little experience with the ins and outs so the typical result is to avoid these types of sales.  We’ve had the privilege this year to participate in 4 probate transactions and successful court approved closings so we have a little more confidence in the process and what is expected by the parties involved.

So what is probate?  Probate is the legal process that results in a court validating someone’s will or determining that he or she died without one. The court, as part of the probate, will appoint someone to handle the bills of the deceased as well as his or her assets.

I’ve located an article that really drills down and explains some of the finer points here at

Overview of the California Probate Process  Please keep in mind that laws are constantly changing.  We strongly recommend that you seek legal counsel prior to making any decisions based on information provided by this blog.

If you find yourself or a family member in a situation where a probate sale may be necessary, please give us a call so that we can share our marketing strategies.  Keep in mind that these type of sales are generally avoided so an excellent marketing strategy and good communication skills will make a huge difference in bridging the gap of understanding with the public resulting in a faster sale at a higher price.

Our primary areas of experience include Temecula, Murrieta, Menifee, Wildomar, Hemet, Winchester, French Valley and Lake Elsinore.  We look forward to your call!  April Greer at 951-522-0518 or april@teamgreer.com

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Southern California Home Sale Statistics

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JUNE RE CAP of Southland Home Sales

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Cash Buyer accounted for 22.3% of June 2015 home sales. That was down from June 2014 when cash buyers were at 25.9% of the market. The peak was 36.9% in February 2013. Since 1988 the monthly average for cash buyers is about 17% of all sales.

Absentee buyers (investors and second home purchasers) bought 21.1% of Southland homes sold in June 2015. The peak was 32.4% in January 2013. The monthly average for absentee buyers since 2000 is about 19.0%.

The median price paid for all Southern California homes sold in June 2015 was $442,000. That is 12.5% below the peak median price of $505,000 reached in March, April, May and June of 2007.

Foreclosure re-sales (properties foreclosed on in the prior 12 months) represented only 3.8% of the Southland re-sale market in June 2015. That was down from 4.6% in June 2014. Foreclosure resales peaked at 56.7% in February 2009.

Short sales made up an estimated 3.1% of Southland re-sales in June 2015. That was down from 4.6% a year earlier.

Home Sales of $500,000 or more accounted for 41.7% of all Southland home sales in June 2015, which is up from 37.9% for June of last year and is the highest level for any month since September 2007 when it was at 44.4%.

Taken from CoreLogic.com  July 19, 2015

Real Estate in your area is constantly changing…if you live or want to live in the Temecula Valley we are just a phone call away at 951-522-0518 or april@teamgreer.com

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California Home Prices 2015

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May 2015 home sales and price report- taken from car.org 6-15-15

California home sales soften in May but spring home-buying season continues momentum.
  • Existing, single-family home sales totaled 423,360 in May Statewide. That was down 1.1% from April but up 8.9% from May 2014.
  • Statewide sales were above the 400,000 mark for a second straight month.
  • May statewide median home price was $485,830, up 0.8% from April and 4.4% from May 2014.
  • California median home price was the highest since November 2007.
  • Available housing supply remains constrained with 3.5 months of inventory. A six-to seven month supply is considered typical in a normal market.
  • The median number of days it took to sell a single-family home statewide fell in May, down from 34.3 days in April to 28.5 days in May and 31.8 days in May of 2014.
  • Statewide, sales-to-list price ratio market indicator suggests that homes are selling for 99% of the list price, essentially flat compared to May of 2014 at 98.8%.

Thinking about a purchase or sale in The Temecula Valley and how this information applies to your plans?  Call us at 951-522-0518.  We’ve been connecting qualified buyers and sellers in the valley since 1998!

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