Riverside Realtor Blog - Alma Dizon

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

Friday, May 26, 2006

Riverside housing statistics from the last 60 days

Here are today’s numbers for the City of Riverside and the surrounding unincorporated areas. For pending, back-up, sold, and expireds, the data is from 3/26/06 through today.

Overall, the upward trend continues for new listings while homes that are in escrow are noticeably lower in listed value. In fact, the average value of available listings is higher than that of expired listings with the exception of 3-bedroom single family residences. The sold prices are generally lower than the pending and back-up list prices with the exception of 3-bedroom condos.

What I find interesting is that while the average price of sold 2 (or fewer bedrooms) and 3-bedroom single family residences dropped several thousand dollars, that of 4+ bedrooms actually rose since my last report (3/18/06). And the market is definitely more active than it was a couple of months ago with many more properties closing this spring. So despite the very large inventory, the real estate market in Riverside is actually proving rather stable.

As always, the data may be skewed by the occasional listing agent who inputs the wrong code, price, etc, though I must say there’s been a marked improvement since the board has begun fining people.

2 and less bedrooms:
Active: 124 Avg. Price: 392,759 Avg. Days On Market: 44
Pending: 46 Avg. Price: 354,377 Avg. DOM: 36
Back-up: 12 Avg. Price: 338,133 Avg. DOM: 65
Sold: 63 Avg. Price: 328,470 Avg. DOM: 34
Expired: 29 Avg. Val: 336,906 Avg. DOM: 53

3 bedrooms:
Active: 800 Avg. Price: 459,405 Avg. DOM: 52
Pending: 156 Avg. Price: 412,015 Avg. DOM: 47
Back-up: 67 Avg. Price: 416,979 Avg. DOM: 74
Sold: 297 Avg. Price: 411,142 Avg. DOM: 46
Expired: 188 Avg. Val: 460,991 Avg. DOM: 66

4 and more bedrooms:
Active: 1036 Avg. Price: 641,325 Avg. DOM: 53
Pending: 172 Avg. Price: 555,357 Avg. DOM: 52
Back-up: 69 Avg. Price: 600,165 Avg. DOM: 64
Sold: 293 Avg. Price: 550,767 Avg. DOM: 53
Expired: 251 Avg. Val: 627,826 Avg. DOM: 48

Condos:
2 and less:
Available: 36 Avg. Price: 268,028 Avg. DOM: 32
Pending: 8 Avg. Price: 279,587 Avg. DOM: 37
Back-up: 4 Avg. Price: 263,997 Avg. DOM: 66
Sold: 17 Avg. Price: 282,811 Avg. DOM: 39
Expired: 10 Avg. Val: 250,680 Avg. DOM: 38

3 bedrooms
Available: 21 Avg. Price: 372,576 Avg. DOM: 27
Pending: 10 Avg. Price: 316,389 Avg. DOM: 52
Back-up: 1 Avg. Price: 324,900 Avg. DOM: 1
Sold: 17 Avg. Price: 336,811 Avg. DOM: 28
Expired: 5 Avg. Val: 360,578 Avg. DOM: 31

4 and above count:
Available: 7 Avg. Price: 446,714 Avg. DOM: 59
Sold: 3 Avg. Price: 379,000 Avg. DOM: 120
Expired: 0

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