Riverside Realtor Blog - Alma Dizon

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

Tuesday, August 01, 2006

Moreno Valley Statistics from the Past 60 Days

Real estate prices in Moreno Valley are proving stable despite a larger inventory and longer days on market. There's been a noticeable increase in the average price of available 2-bedroom homes as only the most affordable are selling. This high average is some 65k over the average price of the pending 2-bedrooms and 50k over the closed sales. 37 of these houses have 2 bathrooms, and 35 are 1000 and more square feet, and these larger 2-bedrooms houses are proving harder to sell as they're priced similarly to smaller 3-bedroom houses. The difference between available and pendings/solds in 3 and 4-bedrooms is about 28k and 20k respectively. Very few condos are currently available, and there's such a gap in value between older and new complexes that the data is mostly anecdotal.

As always, this data comes from the IMRMLS and thus does not include For Sale by Owners and houses that were listed only in other boards. The numbers may be skewed by agents who made errors in their entries. Pending, closed, and expired numbers are as of 6/1/06.

Houses:

2 and less:
Available: 93 Avg. Price: 355,168 Avg. Days On Market: 51
Pending: 19 Avg. Price: 289,763 Avg. DOM: 51
Back-Up: 4 Avg. Price: 326,662 Avg. DOM: 51
Sold: 24 Avg. Price: 305,070 Avg. DOM: 48
Expired: 17 Avg. Val: 317,700 Avg. DOM: Unavailable

3 bedrooms:
Available: 574 Avg. Price: 390,241 Avg. DOM: 54
Pending: 107 Avg. Price: 362,884 Avg. DOM: 54
Back-Up: 22 Avg. Price: 407,582 Avg. DOM: 83
Sold: 185 Avg. Price: 366,113 Avg. DOM: 46
Expired: 154 Avg. Val: 394,659 Avg. DOM: Unavailable

4 bedrooms:
Available: 757 Avg. Price: 467,528 Avg. DOM: 58
Pending: 133 Avg. Price: 448,168 Avg. DOM: 56
Back-Up: 23 Avg. Price: 476,280 Avg. DOM: 74
Sold: 184 Avg. Price: 445,381 Avg. DOM: 51
Expired: 221 Avg. Val: 464,726

Condos:
2 and less
Available: 2 Avg. Price: 212,000 Avg. DOM: 48
Pending: 0
Back-Up: 2 Avg. Price: 309,950 Avg. DOM: 54
Sold: 6 Avg. Price: 261,333 Avg. DOM: 21
Expired: : 1 Avg. Price: 285,000 Avg. DOM: Unavailable

3 bedrooms
Available: 7 Avg. Price: 300,457 Avg. DOM: 48
Pending: 1 Avg. Price: 238,000 Avg. DOM: 20
Back-Up: 0
Sold: 2 Avg. Price: 272,220 Avg. DOM: 32
Expired: 0

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