From April through June of 2020, there were 44 homes sold, with a median sale price of $289,000 - a 19.2% increase over the $242,500 median sale price for the same period of the previous year. There were 92 homes sold in Banning in the second quarter of 2019.
The median sales tax in Banning for the most recent year with available data, 2016, was $2,210, approximately 0.8% of the median home sale price for the second quarter of 2020.
The following table compares Banning to other Riverside County cities with similar median sales prices in the second quarter of 2020:
| City | Apr. - June 2020 Home Sales | Apr. - June 2019 Home Sales | % change (Total Home Sales) | Apr. - June 2020 Median Sales Price | Apr. - June 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Indio | 181 | 358 | -49.4% | $329,000 | $313,750 | 4.9% |
| Lakeland Village | 15 | 22 | -31.8% | $325,000 | $297,000 | 9.4% |
| San Jacinto | 139 | 228 | -39% | $300,000 | $297,500 | 0.8% |
| Thousand Palms | 10 | 12 | -16.7% | $299,500 | $269,500 | 11.1% |
| Hemet | 324 | 525 | -38.3% | $291,000 | $270,000 | 7.8% |
| Banning | 44 | 92 | -52.2% | $289,000 | $242,500 | 19.2% |
| Cherry Valley | 10 | 21 | -52.4% | $283,500 | $300,000 | -5.5% |
| Coachella | 35 | 52 | -32.7% | $275,000 | $247,500 | 11.1% |
| Desert Hot Springs | 108 | 187 | -42.2% | $245,000 | $223,000 | 9.9% |
| Cabazon | 4 | 8 | -50% | $210,750 | $206,500 | 2.1% |
| White Water | 5 | 3 | 66.7% | $184,000 | $261,500 | -29.6% |
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