Temecula homes for sale are getting harder to find as inventory is at a 3 year low. This is due in part to residents of nearby San Diego, Riverside, and Los Angeles counties coming in to Temecula and nearby Murrieta and snapping up twice as much home as they can purchase for the same money in their respective counties. This is great for home sellers, but means prices are rising for home buyers.
“Yes, it’s a good time for home sellers. The last few years there were big reductions in the values of the homes here, but that has come back about 50%, and we are starting to see a rise again in home values,” says John C. Lewis, Owner & Broker for Realty Executives of Temecula Valley. “Prices dipped down a bit over the winter, but look to be rising slowly but steadily now,” Lewis continued.
Temecula California is in the Inland Empire, located just 30 miles from north San Diego. With approximately 100,000 residents, this bedroom community offers homes that are about half the cost of similar sized houses in nearby areas.
“I bought a home in Temecula, even though I worked in San Diego, because the same house closer to work was almost twice the price,” says Leigh LaTorraca, a home owner in Temecula. “The schools are very good, and the city does a great job of keeping it graffiti-free and clean,” LaTorraca said.
The city of Temecula also has an Old West style downtown area with shops an restaurants, as well as number of parks, and lakes. Temecula is home to the highly successful Ballon and Wine Festival, as well as an annual Classic Car show. Temecula also boats many award winning wineries and is within an hour’s drive of Los Angeles, Orange County and San Diego Beaches.
For more information on the housing market trends in Temecula, go to JohnLewis.RealtyExecutivesTemeculaValley.com