Based upon our research of the local Riverside County real estate market, it appears that the real estate market prices have decreased in Murrieta CA. The zip code is 92563.
This is a discussion on the sales prices for homes sold recently as compared to last year. In the past 90 days, there have been 84 homes that have sold and closed escrow in Murrieta. These homes range in prices from a low of $244,900 for a 3 bedroom, 2 bath, and 1143 square foot home on Eagle Crest Ave. in Murrieta . To a high price of $645,000 for a 10 bedrooms, 4.5 baths, 4666 square foot home in Murrieta on Khepera Court. The average sold price is $347,433. The average price per square foot is $132 and the average days on market are 95 days.
During this same 90 day period last year, there were 126 homes that sold and closed escrow in Murrieta, CA. These homes ranged in price from $323,000 for a 3 bedroom, 2 bath, 1200 square foot home on Pearl Drive. On up to $738,000 for a 11 bedroom, 3 baths,  4666 square foot home on Alcott Union Drive. The average price of these sold homes one year ago was $479,507, the average price per square foot was $184 and the average days on market was 81 days. Comparing these figures to the current market are the following; the average price decreased by 38% and the average price per square foot decreased by 39%. This is drop in prices do to the correction in the market, high inventory and increase in foreclosures, which are good deals for buyers. Even though the market decrease it seems to be headed towards tapering off, read the following log for more info Expect signs of a recovery second half 2008.
The real estate market in Murrieta has cooled off from a year ago, but we see several signs that a bottom is being reached at this time. If you would like to view all homes, condos or bank owned foreclosures (REO) listed for sale, please visit our website at: County Properties Real Estate.
Below is two of County Properties Real Estate listings located in Murrieta for sale.
Price drastically reduced $115,000 by bank to sell immediately.
076091563_0_439251 Tiburon Drive, Murrieta CALIFORNIA, 92563
Price is now $308,900 Bank owned Property in great location. Close to shopping! This home has 5 bedrooms and 3 full baths with fireplace in the Family room. Builder is Lyon Homes Formal Dining area and Living room. Large lot. The home was built in 2003. There are a lot of added features to this home. Hardwood flooring, and much more. If you would like to view this home go to County Properties Real Estate.
31997 Calabaza Court, Murrieta CA, 92563 Price: $525,000
Wonderful Property and below market value. over 10,000 Sq Ft Lot and the home is 2,579 Sq Ft with 3 bed 3 bath, loft area, 2 car garage that has floor coating, end of culd-da-sac with view of the preserve . Seller wants quick sale !!!  intercom throughout. May be subject to Bank approval.If you would like to view this home go to County Properties Real Estate.