Riverside Realtor Blog - Alma Dizon

Alma shares her experiences and observations as a Realtor in Riverside California.

Saturday, March 18, 2006

Riverside housing statistics from the last 60 days

The numbers demonstrate the slowing market in Riverside as sellers are still pricing their properties based on last year's upward trend.
As of today, there are 1542 available residential properties with an overall average price of $532,764.
Since 1/17/06, 392 properties have expired with an average price of $541,420.
What is very telling are the pending and sold numbers.
Since 1/17/06, 479 properties have gone pending with an average price of $461,402 while 525 properties have sold with an average price of $453,528. The solds averaged 49 days on the market. The higher average price of the pendings implies an upward trend, but of course, we won't know the final price of the pendings or their days on market until they close. If they were on the market long enough, the sellers may have accepted a lower price, which we'll find out in another 60 days.
Here are the numbers sold and average prices by bedroom count since 1/17/06:
2 or less: 46 sold, average price $333,832
3: 219 sold, average price $414,077
4 or more: 220 sold, average price $544,083
Overall, there were 28 condo sales with an average price of $287,892. 8 were in the $200k-249,999 range, 14 in the $250k-299,999 range, 3 in the $300k-399,999 range, and 2 in the $400k-499,999 range.
This data comes from the IMRMLS, using the code for the city of Riverside and surrounding unincorporated areas. On occasion, the numbers may be skewed by agents who input the wrong code. For sale by owners and Riverside properties listed by out-of-area agents only in another MLS are not included.

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