Banning Housing Market Report – March 2026
Here's a look at how the Banning, CA real estate market performed in March 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 53
- Median Sale Price: $390,000
- Average Sale Price: $403,872
- Average Price Per Sq Ft: $256
- Average Days on Market: 103
- Sale-to-List Price Ratio: 99.2%
Month-Over-Month Trends
Compared to February, the median sale price in Banning moved 13.3% down (from $450,000 to $390,000). The number of homes sold was 130.4% up compared to the prior month (23 vs. 53). Average days on market shifted 2.8% down (106 days to 103 days).
Year-Over-Year Comparison
Compared to March 2025, the median sale price is 14.4% down (from $455,406 to $390,000). Sales volume is 1.9% down year-over-year.
What This Means
Banning's housing market is showing mixed signals as spring kicks in. While sales activity surged dramatically month-over-month—more than doubling from 23 to 53 homes sold—prices have cooled considerably, dropping 13.3% since February and sitting 14.4% below last year's levels. The median price of $390,000 suggests buyers are still willing to transact, but they're doing so at noticeably lower price points. That near-unity sale-to-list ratio of 99.2% indicates sellers aren't holding out for premium offers anymore; homes are moving at realistic market prices rather than aspirational ones.
The acceleration in sales volume is the real story here, likely driven by spring seasonality and pent-up buyer demand in this Inland Empire corridor. However, the lingering 103 days on market reveals homes still aren't flying off shelves despite the uptick in activity. This suggests Banning remains a buyer's market where negotiating power still favors purchasers. With over 330 active listings on the books and median asking prices at $360,028—below actual sale prices—inventory isn't constraining the market like it does in hotter coastal areas.
Overall, Banning presents a balanced opportunity for serious buyers willing to wait out the typical spring timeline.
Banning Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 92220 | 53 | $390,000 | $256 | 103 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 41 | $398,000 | $274 |
| MOBILE | 5 | $124,000 | $95 |
| CONDOS | 3 | $267,000 | $288 |
| LAND | 3 | $514,500 | N/A |
| MULTI_FAMILY | 1 | $700,000 | N/A |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| Under $100K | 2 |
| $100K - $199K | 4 |
| $200K - $299K | 5 |
| $300K - $399K | 19 |
| $400K - $499K | 8 |
| $500K - $749K | 15 |
Current Active Listings
As of this report, there are 332 active listings in Banning with a median asking price of $360,028 and an average of 136 days on market.
Thinking About Selling Your Banning Home?
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