From October through December of 2019, there were 216 homes sold, with a median sale price of $373,500 - a 1.2% increase over the $369,000 median sale price for the same period of the previous year. There were 187 homes sold in Lake Elsinore in the fourth quarter of 2018.
The median sales tax in Lake Elsinore for 2019 was $3,981. In 2018, the median sales tax was $3,898. This marks an increase of 2.2%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.1%.
The following table compares Lake Elsinore to other Riverside County cities with similar median sale prices in the fourth quarter of 2019:
| City | Oct. - Dec. 2019 Home Sales | Oct. - Dec. 2018 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2019 Median Sales Price | Oct. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Rubidoux | 54 | 50 | 8% | $395,500 | $377,500 | 4.8% |
| Lakeview | 1 | 0 | - | $391,000 | $0 | - |
| Bermuda Dunes | 33 | 34 | -2.9% | $390,000 | $415,500 | -6.1% |
| Nuevo | 17 | 12 | 41.7% | $385,000 | $349,500 | 10.2% |
| Calimesa | 43 | 30 | 43.3% | $380,000 | $391,250 | -2.9% |
| Lake Elsinore | 216 | 187 | 15.5% | $373,500 | $369,000 | 1.2% |
| Beaumont | 127 | 133 | -4.5% | $350,000 | $340,000 | 2.9% |
| Menifee | 464 | 391 | 18.7% | $350,000 | $339,000 | 3.2% |
| Moreno Valley | 536 | 463 | 15.8% | $349,000 | $330,000 | 5.8% |
| Palm Desert | 485 | 416 | 16.6% | $340,000 | $347,000 | -2% |
| Cathedral City | 152 | 165 | -7.9% | $340,000 | $310,000 | 9.7% |
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