Area home prices hold steady

By: The Californian - | Monday, October 24, 2005 9:20 PM PDT ∞

Home prices in many areas of Southwest County have leveled off in recent months, a trend confirmed by sales data published Friday.

While home prices in many parts of Riverside County continue to rise at annual rates of more than 20 percent, home appreciation in most local ZIP codes has slowed to less than 10 percent, according to a monthly report from DataQuick, a La Jolla-based research firm.

A total of 780 homes were resold in Southwest County last month, compared to 890 in August. Those numbers reflect typical seasonal trends.

Among those homes, both houses and condominiums in Temecula's 92592 ZIP code showed the smallest annual increases in price at 3 percent since September 2004. Single-family homes in Lake Elsinore's 92530 ZIP Code resold for a median $360,000, a 20 percent gain from September 2004, DataQuick reported.

The median is the price at which half of the homes in an area sold for more, and half for less. The monthly survey didn't include new homes.

Median prices for resale single-family homes in Southwest County's 13 ZIP codes:

Community ZIP Med. Price % chg*

Canyon Lake 92587 $500,000 3.1

Lake Elsinore 92530 $360,000 20

Lake Elsinore 92532 $460,000 5.7

Menifee 92584 $380,000 7.4

Murrieta 92562 $460,000 14.9

Murrieta 92563 $450,000 4.7

Sun City 92585 $316,000 10.5

Sun City 92586 $280,000 18.2

Temecula 92590 $1,025,000 -20.8

Temecula 92591 $455,000 8.9

Temecula 92592 $437,000 2.9

Wildomar 92595 $435,000 19.2

Winchester 92596 $419,000 7.6

* Percent change is from September 2004 to September 2005

Source: DataQuick Information Services

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1 comment(s)[-]Go to Top

taylor wrote on Jan 16, 2006 7:21 AM:Are you still there and selling real estate?

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