From July through September of 2020, there were 75 homes sold, with a median sale price of $267,000 - a 3.1% decrease over the $275,500 median sale price for the same period of the previous year. There were 62 homes sold in Banning in the third 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 third quarter of 2020.
The following table compares Banning to other Riverside County cities with similar median sales prices in the third quarter of 2020:
| City | July - Sept. 2020 Home Sales | July - Sept. 2019 Home Sales | % change (Total Home Sales) | July - Sept. 2020 Median Sales Price | July - Sept. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| San Jacinto | 131 | 127 | 3.1% | $335,000 | $298,000 | 12.4% |
| Idyllwild-Pine Cove | 96 | 14 | 585.7% | $332,500 | $267,500 | 24.3% |
| Lakeland Village | 16 | 11 | 45.5% | $305,000 | $277,000 | 10.1% |
| Hemet | 382 | 274 | 39.4% | $305,000 | $275,500 | 10.7% |
| Coachella | 30 | 24 | 25% | $282,500 | $272,500 | 3.7% |
| Banning | 75 | 62 | 21% | $267,000 | $275,500 | -3.1% |
| Thousand Palms | 14 | 6 | 133.3% | $264,500 | $275,500 | -4% |
| Desert Hot Springs | 138 | 88 | 56.8% | $250,000 | $232,500 | 7.5% |
| White Water | 4 | 0 | - | $242,500 | $0 | - |
| Cabazon | 9 | 4 | 125% | $230,000 | $168,000 | 36.9% |
| Sun City | 1 | 1 | 0% | $217,500 | $234,000 | -7.1% |
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