In August 2021, there were six homes sold, with a median sale price of $330,000 - a 22.2% increase over the $270,000 median sale price for the same period of the previous year. There were 23 homes sold in Banning in August 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 August 2021.
The following table compares Banning to other Riverside County cities with similar median sale prices in August 2021:
| City | Aug. 2021 Home Sales | Aug. 2020 Home Sales | % change (Total Home Sales) | Aug. 2021 Median Sales Price | Aug. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| San Jacinto | 32 | 48 | -33.3% | $415,000 | $327,500 | 26.7% |
| Cherry Valley | 2 | 7 | -71.4% | $414,500 | $484,500 | -14.4% |
| Hemet | 74 | 147 | -49.7% | $390,000 | $300,000 | 30% |
| Lakeview | 1 | 2 | -50% | $365,000 | $431,000 | -15.3% |
| Coachella | 7 | 11 | -36.4% | $350,000 | $285,000 | 22.8% |
| Banning | 6 | 23 | -73.9% | $330,000 | $270,000 | 22.2% |
| Cabazon | 1 | 5 | -80% | $310,000 | $250,000 | 24% |
| Blythe | 7 | 16 | -56.3% | $301,000 | $154,000 | 95.5% |
| Bermuda Dunes | 3 | 14 | -78.6% | $300,000 | $387,500 | -22.6% |
| Lakeland Village | 2 | 5 | -60% | $299,000 | $382,500 | -21.8% |
| Desert Hot Springs | 31 | 57 | -45.6% | $275,000 | $250,000 | 10% |
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