Temecula, CA home prices and housing market

Nearly one in four Temecula home listings has taken a price cut, while values have gone nowhere in a year. If you are thinking about selling, that gap between asking prices and reality is the whole story this month. The typical Temecula home is worth about seven hundred sixty-four thousand dollars, up just 0.1 percent from a year ago, which is basically flat. But the median asking price is around eight hundred forty-eight thousand dollars, roughly eighty-four thousand dollars above what homes are actually valued at. Buyers see that gap, and they are not in a hurry. Homes are sitting for about 58 days before selling, and there are around 450 listings to choose from, with another 184 hitting the market this month. Here is the turn: values are not falling. They are simply flat, which means this is not a crashing market. It is a market that punishes overpricing. Nearly a quarter of sellers have already learned that the hard way. So if you list, price at what your home is worth today, not what the highest listing on your street suggests. Priced right, you sell. Priced high, you sit for two months and then cut. Find out what your Temecula home is really worth with a free estimate at Home Value Pros dot com.