Banning Housing Market Report – May 2026
Here's a look at how the Banning, CA real estate market performed in May 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 70
- Median Sale Price: $380,000
- Average Sale Price: $373,947
- Average Price Per Sq Ft: $265
- Average Days on Market: 107
- Sale-to-List Price Ratio: 97.7%
Month-Over-Month Trends
Compared to April, the median sale price in Banning moved 7.3% down (from $410,000 to $380,000). The number of homes sold was 55.6% up compared to the prior month (45 vs. 70). Average days on market shifted 2.7% down (110 days to 107 days).
Year-Over-Year Comparison
Compared to May 2025, the median sale price is 3.8% down (from $395,000 to $380,000). Sales volume is 59.1% up year-over-year.
What This Means
Banning's housing market in May shows mixed signals, with strong activity offset by downward pricing pressure. Sales volume jumped significantly month-over-month, but this likely reflects improved data collection rather than a genuine market surge—the data collection issues from earlier months have since been resolved. The more telling indicators are the price trends: median prices dropped 7.3% from April and 3.8% year-over-year, suggesting buyers are gaining negotiating power as spring inventory builds up. The sale-to-list ratio of 97.7% confirms this shift, indicating homes are selling slightly below asking rather than commanding premiums.
The silver lining is that days on market tightened slightly to 107 days, and homes are still moving reasonably well. However, the gap between active listings (351) and monthly sales (70) reveals an increasingly buyer-friendly environment. With over four months of inventory at current absorption rates and listed homes averaging 146 days on market, sellers are facing competition. The price-per-square-foot of $265 remains accessible for the region, but the downward trajectory suggests the market is cooling from late 2025's peak. For buyers, this is a more favorable negotiating window than we've seen in recent months.
Banning Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 92220 | 70 | $380,000 | $265 | 107 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 46 | $445,000 | $287 |
| LAND | 8 | $469,500 | N/A |
| MOBILE | 7 | $222,000 | $146 |
| CONDOS | 6 | $272,898 | $231 |
| MULTI_FAMILY | 2 | $224,000 | $333 |
| CONDO | 1 | $125,000 | $210 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| Under $100K | 3 |
| $100K - $199K | 8 |
| $200K - $299K | 8 |
| $300K - $399K | 20 |
| $400K - $499K | 12 |
| $500K - $749K | 19 |
Current Active Listings
As of this report, there are 351 active listings in Banning with a median asking price of $365,000 and an average of 146 days on market.
Thinking About Selling Your Banning Home?
If you're a homeowner in Banning considering selling, you have options. While the traditional market is one route, selling directly for cash can save you time, commissions, and the hassle of repairs and showings. We buy houses in Banning and throughout Riverside County — get a no-obligation cash offer today.
Thinking of selling in Banning? Get a cash offer.
Takes about 30 seconds. No obligation.