Banning Housing Update: Prices Down Year Over Year, Inventory Ticks Up
Banning, CA – March 7, 2026 – Home prices are down from a year ago as listings rise and buyers gain leverage heading into the spring market.
The Banning housing market is showing softer prices and longer selling times compared with a year ago, even as active listings build ahead of spring.
Top takeaways
- Median sale price in January: about $374K, down roughly 20% year over year.
- Homes are taking longer to sell, averaging around 79 days on market.
- Active listings recently topped 100, with about two dozen new listings in the latest month.
Market snapshot
Recent data show the median sale price at approximately $373,500 in January 2026, with 30 homes sold during the month. That marks a notable drop from the same time last year, alongside a rise in days on market. Price per square foot has also edged lower year over year.
Zillow’s Home Value Index places the typical home value near $407,000 as of late January, down modestly over the past year. The median list price has hovered in the low $420Ks, suggesting some gap between asking prices and closed sales.
A regional report for January shows year-over-year sales transactions down about 21% in Banning, with the median sales price also down about 19%, reinforcing the cooler start to 2026.
What’s for sale
Current listings range from established single-family homes in older neighborhoods to newly built properties with estimated completion dates this spring. New-construction offerings from national builders remain active, giving buyers more options than in prior tight-inventory years.
With more than 100 homes on the market recently, buyers may find increased negotiating room compared with early 2024 and 2025 conditions.
Outlook
Statewide forecasts call for a modest rebound in sales activity in 2026, but relatively high financing costs continue to shape affordability. Locally, the combination of softer prices and higher inventory could make this spring a key test for demand in Banning.
Are you seeing more price reductions or stronger buyer traffic in your neighborhood?
Sources
https://www.redfin.com/city/1029/CA/Banning/housing-market
https://www.zillow.com/home-values/50849/banning-ca/
https://www.ie-re.com/wp-content/uploads/2026/02/2026-01-ie-re-housing-data-report.pdf
https://www.homes.com/banning-ca/