Menifee, CA Home Values & Market Trends

Real estate market trends reflect that there have been 1,778 transactions over the past year in Menifee. The median value for residential home transactions that occurred over the previous year is $565,632.17. The number of current listings in Menifee is 227, and the percentage of properties for sale in the city is 227.00%. Menifee, CA currently has 169 properties in foreclosure, 8 bank owned properties, 19 properties headed for auction, and 227 properties for sale.

Menifee, CA Real Estate Market Overview

ZipMedian Est. ValueZipMedian Est. Value
92586

$ 399,000

$ 282/sqft

92587

$ 676,375

$ 329/sqft

92584

$ 609,000

$ 278/sqft

92585

$ 577,375

$ 256/sqft

Housing Market Summary for Menifee, CA

Mar 2023February 2024Change
Median Listing Price$516.5K$551.3K6.74%
Median Sold Price$552.2K$551.3K-0.17%
Homes For Sale236224-5.08%
Homes Sold1,3891,285-7.49%
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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Browse Homes in Menifee, CA

Menifee home values range from $76,395 to $2,149,000. The median estimated value of a home in Menifee is $565,632.17. The median list price of a home is 524,900, and the total count of properties in the city is 37,736.

Foreclosure
There are 4 zips within Menifee, CA; within these zips, the median estimated home value for homes in foreclosure ranges from $1,228,625 in 92586 to the lowest value of $175,000 in 92586. Foreclosure homes account for 0.00% of properties in Menifee, CA with 92584 containing 82 foreclosures, the highest number of foreclosure properties in a single zip.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0.38% of all residential properties in Menifee, CA with 92584 containing 72 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 4 zips within Menifee, CA; of those zips, the estimated home value for pre-foreclosure homes ranges from $1,228,625 in 92584 to the lowest home value of $175,000 in 92586.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in Menifee, CA ranges from the highest value of $399,750 in 92584 to the lowest value of $252,000 in 92587. Bank owned homes and properties account for 0.02% of properties in Menifee, CA. There are 4 zips within Menifee, CA; 92586 containing 4 REO properties, has the highest number of bank owned properties in a single zip.
  • Auctions
    92584 has 9 auction properties, the highest number of properties going to auction in a single zip in the state of Menifee, CA. Auction homes and other auction properties account for 0.05% of all properties in Menifee, CA. There are 4 zips within Menifee, CA; of those zips, the median estimated home value for homes going to auction ranges from $664,750 in 92587 to the lowest value of $342,287 in 92587.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.60% of residential properties in Menifee, CA with 92586 containing 94 homes for sale, the highest number of listed properties in a single zip. There are 4 zips within Menifee, CA; homes for sale in those zips, have a range of median values from $1,495,000 in 92584 to the lowest value of $143,087 in 92586.
    Sold Homes
    The median value for recently sold homes ranges from $974,100 in 92585 to the lowest price of $75,090 in 92585. There are 4 zips within Menifee, CA. 92584 has 581 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 3.33% of properties in Menifee, CA.

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      Guide for Menifee, CA

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      RealtyTrac Market Report
      California’s Real Estate Market Climbs in Value through October 2023: A Comprehensive Year in Review
      California|posted 8 December 2023

      In the past year, California’s real estate market has seen a moderate rise in property values, reflecting enduring confidence despite some fluctuations, with particular note on per square foot value increases and transactional stability across the diverse county markets.

      Oakland Real Estate Market Experiences Cooling Trend After 2023 Peak: Overview & Analysis
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      Oakland’s real estate market, along with its neighboring cities, experienced a peak in 2023 but slowly began to cool off in 2024.

      Anaheim Property Trends: Slow but Steady Uptick in Home Values – Mar 2024
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      Anaheim, CA’s real estate trends show consistent growth in property values, latest data shows.

      Fremont Property Market Calms After 2023 Highs; Stabilizes Early 2024 with Peak Median Value at $1.42M
      California|posted 1 March 2024

      The Fremont, California real estate market experienced considerable fluctuation throughout 2023 and into 2024, with significant peaks and stabilization across various parameters.