Banning Housing Market Report – July 2026
Here's a look at how the Banning, CA real estate market performed in July 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 63
- Median Sale Price: $365,000
- Average Sale Price: $360,571
- Average Price Per Sq Ft: $248
- Average Days on Market: 114
- Sale-to-List Price Ratio: 96.8%
Month-Over-Month Trends
Compared to June, the median sale price in Banning moved 11.0% down (from $410,000 to $365,000). The number of homes sold was 18.2% down compared to the prior month (77 vs. 63). Average days on market shifted 12.9% up (101 days to 114 days).
Year-Over-Year Comparison
Compared to July 2025, the median sale price is 6.4% down (from $390,000 to $365,000). Sales volume is 3.1% down year-over-year.
What This Means
Banning's housing market is showing clear signs of cooling as we head into summer. The median price dropped 11 percent from June to $365,000, and homes are now taking 114 days to sell compared to 101 days last month. This slowdown likely reflects typical seasonal patterns—summer often brings fewer buyers to the Inland Empire—combined with broader affordability pressures. At $248 per square foot, prices remain relatively accessible compared to coastal California, but the uptick in days on market suggests buyers have more negotiating power and less urgency to make offers.
The inventory situation tells an interesting story. With 395 active listings on the market and homes sitting for an average of 144 days before selling, sellers face a notably more competitive environment than earlier in the year. The fact that homes are selling at 96.8 percent of asking price indicates a balanced market that's shifted modestly in buyers' favor. Year-over-year, the median price is down 6.4 percent, confirming this isn't just a monthly blip but rather a sustained trend.
For buyers, this presents opportunity. The extended market time and price softening suggest room for negotiation, particularly on the single-family homes that make up most of the sales mix. Sellers, however, may need to be more strategic with pricing and presentation to attract offers in this slower environment.
Banning Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 92220 | 63 | $365,000 | $248 | 114 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 40 | $393,450 | $266 |
| LAND | 11 | $474,000 | N/A |
| MOBILE | 8 | $161,200 | $123 |
| CONDOS | 3 | $289,000 | $278 |
| OTHER | 1 | $352,000 | $210 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| Under $100K | 4 |
| $100K - $199K | 6 |
| $200K - $299K | 8 |
| $300K - $399K | 19 |
| $400K - $499K | 15 |
| $500K - $749K | 11 |
Current Active Listings
As of this report, there are 395 active listings in Banning with a median asking price of $374,900 and an average of 144 days on market.
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