Inland Empire Sales 1 in 5

The Inland Empire continues to have strong sales numbers, relatively speaking. According to report from MDA DataQuick, and estimated 39,051 homes and condos were sold in California during the month of May. During the same period, MDA DataQuick reports that 7,548 homes were sold in the Riverside and San Bernardino Counties. Also known as the Inland Empire.

That is about 19% of all homes, or 1 in 5, sold statewide were sold in the Inland Empire. So homes in the Inland Empire are definitely moving. With a median price of $137,000 in San Bernardino County its no wonder homes are selling. First time buyers and investors see that real estate in the Inland Empire is the place to buy. Prices are down and you can find great deals.

For those investors that didn't buy during the boom, this is the time when they are buying some of the best deals. in 3-5 years these homes will have provided decent cash flow from a renter and can be resold for a reasonable profit. If held onto for 10 years, you can expect to make more than $100,000 in profit between monthly rents and an eventual resale without trying very hard. Multiply that by 10 homes and you are averaging $100,000/year income. Most people would consider that a good income.

A quick glance at active listing in San Bernardino County that have been listed in just the last 7 days with 3 or more bedrooms and 2 or more baths gives us 354 listings. Here is just a sample of some of the low price leaders. Click image for a larger version