While SoCal's housing market still gets splashy headlines, the reality behind the headlines tells a more sobering storyâespecially for condo owners and anyone trying to sell fast.
đ Market Shift Since 2022
- Days on Market are nearly double: In May 2025, homes took an average of 92 days to sell, up a massive 142% from just 27 days in May 2024âand much slower than the 21 days in May 2022
- 2-bedroom home prices have declined: The median for these homes dropped from $489.9K to $352.5K yearâoverâyearâa 31.5% decline
- Inventory is creeping up, but sales are stagnating: Temecula/Murrieta now has 1629 active listings (May 2025), a 2.6% increaseâwhile home sales slid 8% All signs point to a slowing, less aggressive marketâwhere buyers are dictating pace and pricing.
𧹠Condo Crisis: Sitting, Unsold, and Stressed
- Condo sales are barely trickling: Attached homes (like condos) dropped to just 20 closings in Mayâup 20% from April, and 200% from May of 2024 but still a tiny fraction of the market .
- Older condos face high carrying costs: Many units in Temecula/Murrieta are agingârequiring costly maintenance/repairs. Without major HOA reserves, fees are rising fast as boards scramble to meet safety and structural mandates.
- Buyer avoidance: Escalating HOA dues and deferred upkeep scare off buyersâparticularly first-timers and investors who fear unpredictable assessments and delayed saleability.
đˇ The Toll of High HOAs
Temecula/Murrieta HOA hikes are alarming:
- In SoCal, unit dues have soared from $234 to over $800/month due to structural inspections, improvements and fire harding â forcing many owners to offload at rock-bottom prices
Temecula/Murrieta's older condo communities, lacking deep reserves, risk seeing the same erosion in value and fight for buyer interestâespecially as buyers shy away from unpredictable HOAs and looming assessments.
â ď¸ Bottom Line for Sellers
- Youâre competing in a buyerâs market: Price drops, financed inspections, and long carrying costs matterâand buyers can wait.
- Condos are the hardest hit: Sales are weak, HOA charges are rising, and buyer hesitation is strong.
- Urgency isnât just a buzzword: To sell, youâll need aggressive pricing, upgraded disclosures, and transparency on HOA health.
- Sellers pay for HOA mistakes: Deferred development and overdue repairs all land squarely on sellerâs backsâtake control now.
đĄď¸ What Sellers Must Do to Stay Afloat
- Price reality check: Donât expect 2022 highsâpricing must reflect current demand and growing costs.
- Audit and disclose: HOA financials and upcoming assessment plans shouldnât be secretsâthey must be highlighted early.
- Market differently: Focus listings on single family homes where buyer confidence is higher right now; condos need more story-telling, incentive events, or broker tours.
- Fix and stage: Prevent further deferred maintenanceâconsider using part of sellerâs proceeds to update and reassure buyers.