In August 2020, there were eight homes sold, with a median sale price of $277,000 - a 11.7% increase over the $248,000 median sale price for the same period of the previous year. There were 26 homes sold in Banning in August 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 August 2020.
The following table compares Banning to other Riverside County cities with similar median sales prices in August 2020:
| City | Aug. 2020 Home Sales | Aug. 2019 Home Sales | % change (Total Home Sales) | Aug. 2020 Median Sales Price | Aug. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Nuevo | 4 | 4 | 0% | $337,500 | $460,000 | -26.6% |
| Idyllwild-Pine Cove | 13 | 5 | 160% | $315,000 | $256,000 | 23% |
| Hemet | 48 | 97 | -50.5% | $297,500 | $270,000 | 10.2% |
| Coachella | 2 | 10 | -80% | $293,500 | $288,500 | 1.7% |
| Cherry Valley | 1 | 3 | -66.7% | $285,000 | $300,000 | -5% |
| Banning | 8 | 26 | -69.2% | $277,000 | $248,000 | 11.7% |
| Desert Hot Springs | 21 | 38 | -44.7% | $269,000 | $225,000 | 19.6% |
| Cabazon | 3 | 2 | 50% | $230,000 | $168,000 | 36.9% |
| Sun City | 1 | 1 | 0% | $217,500 | $234,000 | -7.1% |
| Blythe | 5 | 9 | -44.4% | $210,000 | $157,500 | 33.3% |
| Anza | 1 | 0 | - | $65,000 | $0 | - |
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