From October through December of 2021, there were 45 homes sold, with a median sale price of $335,000 - a 24.7% increase over the $268,750 median sale price for the same period of the previous year. There were 96 homes sold in Banning in the fourth quarter of 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 the fourth quarter of 2021.
The following table compares Banning to other Riverside County cities with similar median sale prices in the fourth quarter of 2021:
| City | Oct. - Dec. 2021 Home Sales | Oct. - Dec. 2020 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2021 Median Sales Price | Oct. - Dec. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Hemet | 210 | 536 | -60.8% | $396,500 | $325,000 | 22% |
| Cherry Valley | 12 | 33 | -63.6% | $366,000 | $350,000 | 4.6% |
| Coachella | 20 | 44 | -54.5% | $360,000 | $277,000 | 30% |
| Desert Hot Springs | 64 | 197 | -67.5% | $350,000 | $271,000 | 29.2% |
| Thousand Palms | 2 | 17 | -88.2% | $346,000 | $255,000 | 35.7% |
| Banning | 45 | 96 | -53.1% | $335,000 | $268,750 | 24.7% |
| Aguanga | 4 | 9 | -55.6% | $325,500 | $330,000 | -1.4% |
| Anza | 1 | 10 | -90% | $305,000 | $387,500 | -21.3% |
| Mecca | 1 | 2 | -50% | $267,000 | $145,000 | 84.1% |
| Cabazon | 6 | 10 | -40% | $248,500 | $257,500 | -3.5% |
| Blythe | 17 | 41 | -58.5% | $226,000 | $160,000 | 41.3% |
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