1 / 57
Price cut: $300,000 (5/27)
OPEN SATURDAY, 4:30PM - 6:30PM
$950,000FOR SALE
5 beds · 4 baths · 4,020 sqft
COLDWELL BANKER KIVETT-TEETERS
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207 homes in 92223
Homes for Sale in 92223
Banning, CA
9841 Kehl Canyon, Cherry Valley, CA 92223
1 / 53
Price cut: $400,000 (3/2)
VIRTUAL TOUR
$1,350,000FOR SALE
7 beds · 5 baths · 3,618 sqft
CENTURY 21 LOIS LAUER REALTY
1 / 20
Price cut: $70,120 (7/13)
VIDEO TOUR
$579,880FOR SALE
3 beds · 2 baths · 2,186 sqft
Re/Max Top Producers
1 / 20
Price cut: $20,000 (8/25)
VIRTUAL TOUR
$599,900FOR SALE
3 beds · 2 baths · 1,902 sqft
KELLER WILLIAMS COVINA
1 / 20
Price cut: $15,000 (8/19)
3D TOUR
$650,000FOR SALE
5 beds · 3 baths · 2,902 sqft
Elevate Real Estate Agency
1 / 20
Price cut: $30,000 (8/14)
VIRTUAL TOUR
$449,900FOR SALE
3 beds · 2 baths · 1,165 sqft
COLDWELL BANKER KIVETT-TEETERS
1 / 20
Price cut: $37,750 (8/13)
VIRTUAL TOUR
$394,250FOR SALE
2 beds · 2 baths · 1,794 sqft
Platinum Realty Executives
1 / 12
Price cut: $210,000 (7/17)
$219,000FOR SALE
3 beds · 2 baths · 1,764 sqft
CROWN ROYAL REAL ESTATE, INC.
1 / 73
NEW 20 HRS AGO
VIRTUAL TOUR
$749,000FOR SALE
3 beds · 4 baths · 2,635 sqft
COLDWELL BANKER KIVETT-TEETERS
1 / 53
3D TOUR
$525,000FOR SALE
4 beds · 2 baths · 1,768 sqft
RE/MAX Empire Properties
1 / 20
VIRTUAL TOUR
$490,000FOR SALE
2 beds · 2 baths · 2,076 sqft
55+ REAL ESTATE INC
1 / 20
VIRTUAL TOUR
$350,000FOR SALE
2 beds · 2 baths · 1,392 sqft
Realty Masters & Associates
1 / 20
Price cut: $199,001 (6/17)
OPEN SUNDAY, 6PM - 10PM
$999,999FOR SALE
3 beds · 3 baths · 3,366 sqft
eXp Realty of Southern California, Inc.
1 / 20
Price cut: $24,000 (8/11)
VIRTUAL TOUR
$625,000FOR SALE
4 beds · 3 baths · 3,321 sqft
KELLER WILLIAMS REALTY
1 / 20
Price cut: $20,000 (8/21)
$575,000FOR SALE
5 beds · 3 baths · 2,261 sqft
SIERRA REALTY FONTANA INC
1 / 20
Price cut: $15,100 (8/27)
$549,900FOR SALE
3 beds · 3 baths · 1,967 sqft
EZ Realty & Property Managemen
About 92223 Real Estate
About Banning: The 92223 ZIP code is in Banning, CA. Banning is a city in Riverside County, California, United States. Its population was 29,505 as of the 2020 census, down from 29,603 at the 2010 census. It is situated in the San Gorgonio Pass, also known as Banning Pass. It is named for Phineas Banning, stagecoach line owner and the "Father of the Port of Los Angeles."
Today, the 92223 area has 207 homes for sale with a median listing price of $556K. The average price per square foot is $270.
92223 Area Market Pulse
Topfind Market Read
The picture is mixed here. Sales volume is up 35% versus six months ago, yet 35% of sellers have trimmed their asking price, so neither side holds a clear advantage. Realistic pricing wins for sellers, and patient, prepared buyers can secure fair terms.
Buyer leverageBalancedSeller leverage
Median Home Price
$560K
↑ 2% over the past yearChart shows the median closed sale price by month
$576.8K$535.7K$495.8K$455.9K
Sep 25
Dec 25
Mar 26
Jun 26
Months of Supply
Estimated time to sell all listings at the current sales pace
3.8 months of supply
Balanced Supply205 active listings currently on the market.
Tight (<3 mo)
Balanced (3 to 6 mo)
Ample (6+ mo)
3.8
0369+
What this means for buyers
Supply and demand are roughly in step, with a steady flow of options and no glut. Listings typically sell in ~48 days.
● Tight: strong demand● Balanced: steady pace● Ample: more choice
Sales Velocity
How fast homes are selling
Homes take longer to sell here than in a balanced market, so buyers have more time to negotiate and explore options. The trend is moving the other way though, with selling times down 6% over the last six months.
● <30d: Fast● 30-45d: Steady● 45d+: Slower
Inventory Distribution
A solid share of current listings is under 30 days old, while a meaningful share has been up longer.
New
Active
Aging
Stale
About 56% of current listings are under 30 days old, while the rest have been up longer.
Under 30 days → competitive, act quicklyOver 60 days → potential negotiation opportunities
Housing Tenure in 92223 Area
Homeownership is significantly higher than average, making this a homeowner-dominated market with more long-term residents.
HomeownersRenters
71%
Homeowners
29%
Renters
Homeownership is 15.5 points higher than the California average (55.5%)
Higher ownership rates often reflect more stable neighborhoods and longer-term residents.
11,494 households (2023)
Median Price by Bedroom
Home prices rise significantly with each additional bedroom.
2 Bed$430K
3 Bed$550K
4 Bed$580K
5 Bed$666K
6 Bed$1,000K
Each additional bedroom adds about $143K in value on average, with larger homes seeing bigger price jumps.
Largest increase: 5 → 6 bedrooms (+$334K)
Price Reductions
72
72 listings have reduced their price
35% of active listings
Average reduction: 4.9% (~$28K)
A sizable share of sellers have trimmed their asking price. Those listings are the clearest place to negotiate.
Explore Nearby Cities
Browse homes for sale in cities near Banning
Frequently Asked Questions about Homes for Sale in 92223, CA
How many homes are for sale in 92223, CA?
There are currently 207 homes for sale in 92223, ranging from $193,900 to $3,995,000. 16 of them hit the market within the last week.
What is the median home price in 92223?
The median list price in 92223 is $555,900. Price per square foot averages $270. Prices are up 1.6% compared to a year ago.
How fast do homes sell in 92223?
Homes in 92223 currently average 50 days on the market, a slower pace that gives buyers more time to evaluate and negotiate.
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