The five cities that make up the Inland Empire (Murrieta, Temecula, Menifee, Wildomar, and Winchester) remain popular as affordable bedroom communities for nearby metro centers Los Angeles and San Francisco. Winchester in particular is set to break ground on new residential neighborhoods along the Domenigoni Parkway corridor. Overall, there is a continued increase in building in the Inland Empire as the economy maintains its recovery.
The median home prices in these areas rose 2-4% over last year. Specifically in Murrieta, there has been a 4% increase in sales prices since 2017. The number of homes sold last month compared to two months ago has seen a decrease. The median sale price also dropped by 2.5% during the same period. The average days on market remains essentially unchanged, moving from 53 days to 52 days last month.
Michael Jeffries – Murietta, CA
Michael Jeffries has always been one to stand out from the pack. After graduating from Texas A&M University with a B.Sc. in Electrical Engineering, he enlisted with the U.S. Navy, serving more than 20 years. In transition back to civilian life, he found himself drawn to appraising. In 2002, he became a residential appraiser with DMJ Appraisal Services Inc. in Murietta, California. He continues to serve the company as a certified residential appraiser and its Chief Financial Officer.