Perris is a city in Riverside County, California, United States, located 71 miles (114 km) east-southeast of Los Angeles, California, and 81 miles (130 km) north of San Diego, California. It is known for Lake Perris, which hosts a variety of flora and fauna. The city is most widely recognized for having many choices involving aerial activities, such as skydiving and hot-air ballooning.
The questions most often asked of us by Perris home sellers are “How much will my home sell for?” and “How quickly will it sell?”. Of course, the answers are quite property specific, but the below charts show the local market average for the last year.
Another major factor for Perris buyers and sellers should be listing competition. The charts below show market trends for new listings as well as the current number of active homes for sale.
These next charts are perhaps more useful for us Brokers, but are key market indicators nonetheless. Months of Inventory estimates how long it would take to sell all the homes currently on the market if no new listings were added. Most brokers still consider six months to equal a “balanced market”. Less than that is a “sellers’ market”, more is a “buyer’s market”.
The number of pending sales indicates the actual number of properties under contract. This data is particularly helpful when compared to the number of listings.
Lastly, potential buyers regularly ask about buying foreclosure properties (in search of a better deal). Since recovery from the great recession of 2008, foreclosures have remained at record lows.