Victoria Riverside August Market Snapshot 
Active Listings: 12
Pending Sales: 6
Closed Sales: 6
Expired Sales: 1
So what does this mean to you?
Active Listings -The active listings range in price from $299,900 - $399,900. Two are short sales which are traditionally priced 3-5% lower than fair market value. The DOM (days on the market) ranges from 15 - 162 days. Typically homes on the market over 90 days should reflect price reductions to once again generate interest and traffic.
Pending Sales: - The number of home in escrow have increased during the last month. Summers end maybe inducing buyers to get off the fence and move before school begins.
Closed Sales - Are exciting as we can now see values in the neighborhood. **5580 Cornwall "fixer home" sold for $222,000. A low price which impacts the neighborhood however I have noticed the work/improvements taking place. If this is an investor purchase it will go back onto the market at a higher price. (Fingers crossed!)
Average price $336,000 Average price per square foot: $129 (Keep in mind this reflects the low price of the Cornwall property.)
Homes that closed with higher prices often featured remodeled kitchens (removing cabinets to create an open flow) upgrades such as granite or solid surface counters and refinished cabinetry & recessed lights. Proving that kitchen remodels still offer a bang for you buck.
If you are thinking of buying or selling real estate in Riverside, CA
give me call, text me or email me.
I would love to assist you!
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