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Prices in Riverside, California are moving up at an average rate of $52.50 per day; however, in the last 3-month period vs. the same 3-months from 2009 23% fewer homes sold, but current prices are higher per square foot than last year. The biggest change in 1-year is the shift from mostly REO sales to more of a balance between REO, standard and short sales. REO sales continue to sell the fastest and the Standard sales pull the highest prices.
Area City of Riverside, CA Date 8/26/2010
|
Square Footage
|
0-3 Months
|
4-6 Months
|
Difference
|
|
2800-3000
|
$320,000
|
$325,000
|
$-5000
|
|
2600-2800
|
$322,500
|
$317,000
|
$5500
|
|
difference
|
$-2500
|
$8000
|
//////////////////
|
|
2400-2600
|
$315,000
|
$307,500
|
$7500
|
|
difference
|
$7500
|
$9500
|
//////////////////
|
|
2200-2400
|
$287,450
|
$270,000
|
$17,450
|
|
difference
|
$27,550
|
$37,500
|
//////////////////
|
|
2000-2200
|
$245,200
|
$254,250
|
$-9050
|
|
Difference
|
$42,250
|
$15,750
|
//////////////////
|
|
1800-2000
|
$235,000
|
$235,000
|
$0
|
|
Difference
|
$10,200
|
$19,250
|
//////////////////
|
|
1600-1800
|
$215,000
|
$210,000
|
$5000
|
|
Difference
|
$20,000
|
$25,000
|
//////////////////
|
|
1400-1600
|
$203,250
|
$187,000
|
$16,250
|
|
difference
|
$11,750
|
$23,000
|
//////////////////
|
|
1200-1400
|
$169,900
|
$165,000
|
$4900
|
|
difference
|
$33,350
|
$22,000
|
//////////////////
|
|
Difference TOTAL
|
$150,100
|
$160,000
|
$42,550
|
|
Divide by 8
|
$18,762
|
$20,000
|
//////////////////
|
|
Divide by 9
|
//////////////////
|
/////////////////
|
$4728
|
|
Divide by 200 sq’
|
= $ per Sq’ $94
|
= $ per Sq’ $100
|
//////////////////
|
|
Divide by 90 days
|
//////////////////
|
/////////////////
|
= $ per day $52.50
|
Data used is median sales prices in the area – for either current to 3-months or 4-6 months; by house square footage ranges. In the gray boxes in the difference between the 2 median prices per the adjacent ranges.
|
|
Total Number
|
% Standard
|
% REO
|
% Short Sales
|
|
Active Listings
|
1232
|
36%
|
13.5%
|
45%
|
|
Pending Sales
|
761
|
18%
|
29.5%
|
47%
|
|
Closed Sales
|
1155
|
32%
|
34%
|
29%
|
|
Sold 1-year ago
|
1497
|
17%
|
66.5%
|
13%
|
|
Median sold prices
|
Standard Sq’
|
REO per Sq’
|
Short per Sq’
|
Standard DOM
|
REO DOM
|
Short sales
DOM
|
|
2009
|
$139
|
$106.50
|
$116
|
63
|
43
|
148
|
|
2010
|
$139
|
$116
|
$118
|
59
|
38
|
100
|
;)
;)
