Banning Housing Market Report March 2025•Riverside County, California

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Housing Prices in Banning, CA

How much do homes in Banning, CA cost?

Housing Market Conditions

Is Banning, CA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Banning is a Buyer's Market

Difference Since March 2024

At the same time last year, Banning was a Seller's Market.

Insight

Banning is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$405,450$271/SqFt
+$30,450
+8.1%

Based on all homes sold in the last 12 months

Insight

Homes in Banning have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Banning was $405,450 in March 2025, up 8.1% from last year, and the median price per square foot was $271.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Banning
+8.1%
San Gorgonio Pass
+8.0%
Forest Falls
+2.9%
Big Bear
-4.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$165.5K$173K
+4.5%
2$355K$380K
+7.0%
3$390K$433.2K
+11.1%
4$510K$500K
-2.0%
5$415K$566.9K
+36.6%

Summary: Banning housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +4.5%. The home price for 2 bedroom homes increased by +7.0%. The home price for 3 bedroom homes increased by +11.1%. The home price for 4 bedroom homes decreased by -2.0%. The home price for 5 bedroom homes increased by +36.6%.

How does Banning, CA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Banning, CA

Housing supply in Banning, CA

How many homes are available in Banning, CA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
202Last MonthMar 2025
1812 months agoFeb 2025
+11.6 %
Change MoMFeb – Mar

Summary: The Banning real estate market had 202 homes for sale in Mar 2025, a 11.6 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
22Last MonthMar 2025
312 months agoFeb 2025
-29.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
125
+150.0%
29194
+3.3%
36979
+14.5%
41722
+29.4%
522
0.0%

Summary: Banning housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +150.0%. The inventory for 2 bedroom homes increased by +3.3%. The inventory for 3 bedroom homes increased by +14.5%. The inventory for 4 bedroom homes increased by +29.4%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Banning, CA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price8 Homes

At Asking Price9 Homes

Under Asking Price5 Homes

Insight

If you're buying a home in Banning, expect to pay close to the asking price. 40.9% of homes here sold near the asking price last month.

Summary: A total of 22 homes were sold or pending in Banning in March 2025, down by 29.0% month-over-month. Of the 22 sold homes, 23% were sold under asking, 41% were sold at asking, and and 36% were sold over asking.

Days on Market for Banning, CA

How long does it take to sell a home in Banning, CA?

Breakdown of Home Sale Times

Under 30 Days15 Homes

30 – 90 Days5 Homes

Over 90 Days2 Homes

Insight

Many homes in Banning are selling fast, if you're buying plan to act quickly.

Summary: During March 2025, 22 homes were sold in Banning; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
27 DaysThis YearMar 2025
34 Days1 year agoMar 2024
-22.1 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Banning had an average listing age of 27 days in Mar 2025, down by 22.1% compared to the previous year.

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Newest Listings in Banning, CA

What homes are available in Banning, CA?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from California Regional MLS, for the period 04/01/2023 - 04/01/2025

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/11/2025, 12:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.