In May 2021, there were 12 homes sold, with a median sale price of $307,500 - a 12.6% increase over the $273,000 median sale price for the same period of the previous year. There were eight homes sold in Banning in May 2020.
The median sales tax in Banning for the most recent year with available data, 2019, was $2,233, approximately 0.7% of the median home sale price for May 2021.
The following table compares Banning to other Riverside County cities with similar median sale prices in May 2021:
| City | May 2021 Home Sales | May 2020 Home Sales | % change (Total Home Sales) | May 2021 Median Sales Price | May 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| San Jacinto | 20 | 23 | -13% | $400,000 | $300,000 | 33.3% |
| Perris | 25 | 24 | 4.2% | $386,000 | $329,500 | 17.1% |
| Aguanga | 1 | 0 | - | $368,000 | $0 | - |
| Hemet | 68 | 59 | 15.3% | $355,500 | $299,000 | 18.9% |
| Desert Hot Springs | 26 | 26 | 0% | $355,000 | $226,000 | 57.1% |
| Cherry Valley | 4 | 2 | 100% | $324,750 | $355,000 | -8.5% |
| Thousand Palms | 1 | 2 | -50% | $320,000 | $369,500 | -13.4% |
| Coachella | 5 | 8 | -37.5% | $308,000 | $261,000 | 18% |
| Banning | 12 | 8 | 50% | $307,500 | $273,000 | 12.6% |
| Blythe | 6 | 8 | -25% | $238,500 | $156,000 | 52.9% |
| Mountain Center | 2 | 2 | 0% | $236,500 | $360,000 | -34.3% |
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