Orangecrest Riverside Real Estate - October 2011
Active Listings: 34
Pending Listings: 29
Closed Listings: 7
What does this mean for you?
It is typical for real estate sales to slow as we begin to move towards the holiday season however real estate activity in Orangecrest Riverside, remains brisk. We saw seven new listings (5 short sale listings) during the month of October. Which indicates we are not in a traditional selling cycle.
Distressed Sales continue to dominate the Orangecrest Riverside market due to the large number of homes built from 2001 and forward. Many newer homes & subdivisions are underwater (or the homeowner owes more on the home than current market value) as we continue to watch the market adjusting. Short Sales and bank owned properties will continue to be a large part of the sales.
However the number of short sales successfully closing are increasing. During the month of October seven homes closed (4 short sales, 2 standard sales and 1 REO.) Of the current 34 active listings - 23 are short sales, 6 standard sales and 5 REO's.
Average price per square foot: $111
Average number of days on market: 67
Average sales price: $266,957
The average price per square foot is a good way to asses the current market value of your home. Of course this does not reflect upgrades, landscaping or hardscaping you may have completed.
As an experienced Realtor I am available to assist you by providing a market analysis of your home. As a Realtor who specializes in newer homes & subdivisions I am able to assist distressed homeowners who maybe considering a short sale or standard seller or buyers seeking to enjoy the peaceful neighborhood of Orangecrest Riverside, CA.
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