Perris, CA Home Value Statistics

In Perris, CA and in newer neighborhoods built after 1999 the median home value has not changed over the past year indicating a stable property values trend.  There are currently 4.2 months of housing inventory which indicates a balanced demand/supply trend. Properties sold after a median of 79 days of marketing time over the past 3 months indicating a marketing time trend of less than 3 months.  89% of all sales over the past 3 months were bank sales or short sales which has been a consistent ratio over the past year.  This ratio is one of the highest in the nation and it is placing downward pressure on property values.