The history of Temecula, California in the 1800s was almost completely erased by a 1906 San Francisco earthquake that caused a fire in the city.

Despite the destruction of a lot of history, the city came back strong. Now, it's one of the top places to live in California. New homes in Temecula are popping up to try to match the demand of the area.

If you want to move to this amazing city, understanding the housing market is key. Keep reading to find out about the current trends.

Temecula Housing Market Conditions

Temecula, California is currently a seller's market meaning prices are higher and homes sell faster.

Based on the homes sold in the last year, the price has risen by 3.9%. The current median home price is $722,482 ($343/sqft).

Two-bedroom homes have seen the biggest price change. From February 2023 to February 2024, two-bedroom home prices have increased in cost by 17%.

The homes for sale in Temecula vary in the number of bedrooms. Three and four-bedroom homes are making up most of the current listings.

A majority of homes (48%) last month sold over the asking price. 35% of homes sold under the asking price and 17% sold at the asking price.

Sellers benefit from higher asking prices in the competitive market.

Additionally, it only takes an average of 24 days to sell a home. Last year at this time, the average was up to 58 days. 65% of homes were sold in less than 30 days in February.

Neighborhoods

There are 19 neighborhoods in Temecula, California, ranging in affordability and amenities.

Meadowview is the most expensive neighborhood of the 19 with a median listing home price of $1.2 million. The most affordable neighborhood, Alta Vista, still has a steep median house price of $642,500.

Redhawk and Margarita Village/Temeku Hills have the most homes for sale at the time of writing, with Alta Vista and Paloma del Sol following close behind.

The median home prices in these neighborhoods look like this:

• Redhawk: $832.5K

• Margarita Village/Temeku Hills: $754K

• Paloma del Sol: $695K

Temecula has a small renter's market, but most people own their homes. Therefore, there are more homes for sale than homes for rent.

Public and Private Schools

Moving to Temecula is common for families because of the great schools. The city is home to 40 public schools and 21 private and charter schools. The schools are rated good and higher.

The schools focus on early childhood development to high school.

In addition to knowing the Temecula housing trends, it's important to know which neighborhoods are ideal for families. Parents are attracted to Temecula when great education is a priority for their children.

If you have a school in mind, you'll have a limited number of homes to choose from compared to if you don't have to look within a certain district.

Amenities

Home values in Temecula are high partially because of the great amenities in the area. There are plenty of grocery stores, cafes, and restaurants to choose from. Parks and gyms are available too.

You can find a variety of markets and nationally recognized grocery stores in Temecula. There is something for everyone's tastes and dietary needs.

Temecula Valley is known as the wine country of Southern California with 47 wineries across 33,000 acres. South Coast Winery & Spa is one of the top wineries in the state. It's a perfect place for wine lovers to visit and enjoy.

The city has the largest casino in California too. The Pechanga Resort and Casino is a great gaming and entertainment space. Residents can enjoy a wide range of shows.

Golf lovers can rejoice with the seven golf courses in town. Take a 20-mile drive and you'll find 17 more amazing golf courses and country clubs.

Climate

Temecula is one of the best places to live if you love sunny, warm weather. With a Mediterranean climate, there are hot summers and mild winters in Temecula.

It doesn't get too hot in the summer with average highs of 85 degrees. In the winter, 39 degrees is about the lowest temperature residents will have to deal with.

More often than not, temperatures stay around the 60s during the day. It's not until the sun goes down that temperatures start to drop.

Temecula has been compared to some of the best weather cities like Miami and Honolulu. It's one of the warmest places in the state of California, but it's rare for the humidity to be unpleasant during the summer.

Luxury Homes

Temecula has always been a city with luxurious and beautiful homes. Still, there has been a recent increase in the need for premium real estate in the city.

As the demand continues, the housing market may see an increase in new homes in Temecula that are big and bold. There are a few new home construction listings on the market.

Job Market

The job market is a huge indicator of the housing market. It's safe to say that homeowners in Temecula are making good money to be able to afford the luxury environment. The average salary is over six figures.

High salaries are ideal to cover the high cost of living. Temecula is 31.2% more expensive than the United States cost of living. However, it's 12.5% lower than the state average.

As a growing Riverside County city, Temecula continues to see an increase in the job market. The unemployment rate is 3.5%, lower than the national unemployment rate.

Most impressively, the city has an expected job growth of almost 50%. For people looking to move to Temecula, there is a lot of opportunity. Jobs have increased by over 2% in the last year.

New Homes in Temecula: Work With Us Today

If you are interested in Temecula, California for any of the amazing reasons above, look for a house! At Mogul Real Estate, we help you look for new homes in Temecula.

The current seller's market can be difficult to navigate. Our leading and licensed real estate team in Temecula Valley has years of experience. We stay up to date with MLS listings and community searches.

Let us help you find your dream home. Get results quickly and always have a line of communication for your home-buying needs with us. Send us a message now to get started.