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How is The Riverside Real Estate Market?

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 October 17, 2014
Median List Price:$350,355Average List Price:$444,835
Total Inventory:1,011Price per Square Foot:$191
Average Home Size:1,887Median Lot Size:9,148
Average # Beds:3.71Average # Baths:2.89
Homes Absorbed:30Newly Listed:35
Days on Market:106Average Age:38

Riverside Real Estate Statistics for Condos/Town Homes

90-day stats for Condo properties in
RIVERSIDE, CA as of October 17, 2014
Median List Price:$210,573Average List Price:$228,216
Total Inventory:70Price per Square Foot:$177
Average Home Size:1,289Median Lot Size:n/a
Average # Beds:2.45Average # Baths:2.46
Homes Absorbed:2Newly Listed:3
Days on Market:197Average Age:27

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.

How is the Riverside Real Estate Market?

 

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.

How is the Riverside Real Estate Market?

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.

How is the Riverside Real Estate Market?

 

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.

How is the Riverside Real Estate Market?

 

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.

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The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from California Regional Multiple Listing Service, Inc. as of 10/30/14 4:51 AM PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

This IDX solution is (c) Diverse Solutions 2014.