How is The Riverside Real Estate Market?
Curious what the Riverside real estate market has been doing lately? You certainly aren’t alone. Newspapers, television, websites, and almost every person you pass on the street seem to have an opinion about the real estate market. Unfortunately, most aren’t based on fact, or they are based on large geographic averages, and not our local Riverside market. What is happening in New York, Florida, or even Los Angeles, isn’t necessarily a reflection on what is happening here, in Riverside. That is why it is so important to get HYPER LOCAL numbers, especially if you are making a decision to sell, or purchase a home. Below we have posted data for the city of Riverside, as it stands today. We will also re-post every 30 days- so you can get a good idea what is happening in your home town. If you would like more specific, zip code based numbers- give us a call, or shoot us an email. We can also set up an auto email, so you get up to date numbers, sent to your inbox weekly.
Deciding what to do with your home, or whether or not to purchase a new one, is too big a decision to make, without accurate data. We would be happy to keep you abreast of the changes in the real estate market, so you can make an informed, intelligent, decision.
Riverside Real Estate Statistics for Single Family Residences
|90-day stats for Single Family properties in|
RIVERSIDE, CA as of May 22, 2015
|Median List Price:||$386,554||Average List Price:||$463,436|
|Total Inventory:||762||Price per Square Foot:||$196|
|Average Home Size:||1,961||Median Lot Size:||9,047|
|Average # Beds:||3.74||Average # Baths:||2.48|
|Homes Absorbed:||114||Newly Listed:||111|
|Days on Market:||88||Average Age:||38|
Riverside Real Estate Statistics for Condos/Town Homes
|90-day stats for Condo properties in|
RIVERSIDE, CA as of May 22, 2015
|Median List Price:||$298,848||Average List Price:||$388,285|
|Total Inventory:||90||Price per Square Foot:||$183|
|Average Home Size:||1,508||Median Lot Size:||n/a|
|Average # Beds:||2.46||Average # Baths:||1.92|
|Homes Absorbed:||11||Newly Listed:||12|
|Days on Market:||63||Average Age:||50|
Median Price of Homes in Riverside
The median price tracks the middle range price of homes in the area. Half the homes have sold for more, and half have sold for less.
Total Inventory for Riverside
The total inventory tracks how many homes are currently listed for sale, and addresses the issue of “Supply and Demand.” A low inventory, coupled with a low average days on market, indicates that the supply isn’t keeping pace with demand. An increased inventory, with increased days on market, means there isn’t sufficient demand for the number of homes currently for sale.
Average Days on Market in Riverside
The average days on market tracks how long it takes for a home to sell. Shorter days on market indicate a decrease in inventory, and more demand.
Market Action Index for Riverside
The market action index answers the question “How’s the market?” by measuring the current rate of sales versus the amount of inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
For more information on Riverside real estate, the housing market, and homes for sale- contact Graham and The Home Team at (951)534-9296, or email us.