Perris Market Report (SDMLS computed) May 2026: Benchmark Price Rises to $569,906 Amidst Balanced Market Conditions

Perris Market Report (SDMLS computed) — May 2026

The Perris housing market in May 2026 saw the composite benchmark price reach $569,906, an increase from April's $522,000. Total sales for the month were 48, a decrease from the 62 sales recorded in April 2026, indicating a balanced market condition.

Market Analysis

The Perris market experienced a notable increase in its composite benchmark price, climbing to $569,906 in May 2026. This represents an appreciation from both the prior month's $522,000 and the prior year's $530,000 in May 2025. Despite this price growth, total sales volume decreased, with 48 transactions in May 2026 compared to 62 in April 2026 and 80 in May 2025.

Market conditions are currently balanced, supported by a Sales-to-New-Listings Ratio (SNLR) of 47.5%. This indicates that nearly half of the 101 new listings introduced during the month were absorbed by buyers. The steady influx of new inventory, combined with the observed sales activity, contributes to an equilibrium where neither buyers nor sellers hold a significant advantage, fostering a stable environment for transactions.

Property Type Analysis

Detached homes continue to dominate the Perris market, accounting for 40 of the 48 total sales in May 2026, with a benchmark price of $575,000. This benchmark is slightly above the overall composite benchmark price for the area. In contrast, the attached/townhouse segment recorded only one sale, with a benchmark price of $1,200,000, reflecting its limited presence and unique transactions within the market. There were no apartment sales recorded during the month.

Regional Highlights

The Perris market's performance in May 2026, characterized by a rising benchmark price and a balanced market, reflects specific local dynamics. While sales volume has seen a decline compared to both the prior month and year, the increase in the composite benchmark price suggests underlying strength in property values. This trend indicates that demand remains robust enough to support price appreciation despite fewer transactions.

The consistent influx of new listings, totaling 101 for the month, helps to replenish inventory, contributing to the balanced market condition. This balance is crucial for sustainable market activity, preventing rapid shifts that could favor one side of the transaction significantly. The market's ability to absorb nearly half of these new listings, as indicated by the SNLR, underscores a steady, albeit slower, pace of transactions.

For Buyers

Buyers in the Perris market should note the rising benchmark prices and balanced conditions. While competition may exist for desirable properties, the market's equilibrium offers opportunities for well-prepared buyers. Securing pre-approval and understanding local market nuances, especially for detached homes, is crucial for making competitive offers.

For Sellers

Sellers in Perris can benefit from the appreciating benchmark prices and balanced market. With 101 new listings entering the market, strategic pricing and effective marketing are key to attracting offers. Understanding the demand for specific property types, particularly detached homes, can help sellers position their properties effectively to achieve their desired outcomes.