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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 September 12, 2014
Median List Price:$351,509Average List Price:$446,886
Total Inventory:975Price per Square Foot:$191
Average Home Size:1,895Median Lot Size:9,148
Average # Beds:3.70Average # Baths:2.89
Homes Absorbed:65Newly Listed:75
Days on Market:86Average Age:38

Riverside Real Estate Statistics for Condos/Town Homes

90-day stats for Condo properties in
RIVERSIDE, CA as of September 12, 2014
Median List Price:$212,292Average List Price:$226,281
Total Inventory:64Price per Square Foot:$175
Average Home Size:1,293Median Lot Size:n/a
Average # Beds:2.47Average # Baths:2.45
Homes Absorbed:4Newly Listed:5
Days on Market:182Average 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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Date last updated: 9/23/14 11:02 AM PDT

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