Lake Hills Riverside Real Estate Update November 2011

Lake Hills Riverside Real Estate Update - November 2011

The Lake Hills Reserve is a 750 acre masterplanned community nestled in the mountains of  eastern Riverside bordering the city of Corona. Conveniently located near the 91 & 15 freeways providing easy access to Orange County and Los Angeles.  Panoramic city views, rolling hills and 500 acres of dedicated open space are features of this beautiful community. The community consist of homes built during two different time periods. Older homes built from 1985 and phase 2 - newer construction built during 2004 forward. This report is based on MLS data for newer & new construction homes in Riverside CA.

Active Listings: 9 (6 Short Sales, 2 Standard Sales, 1 REO bank owned)

Pending Sales: 4

Closed Sales: 3 (2 REO's, 1 Standard)

What does this mean for you?

The numbers reflect continued real estate activity within the Lake Hills Reserve. The number of short sale transactions has increased which also reflects the average number of days a home is on the market. The current reality of real estate often reflects longer days on the market. Which maybe an advantage for standard sellers. The average days on the market (DOM) for the standard sale was 36 days versus the average 169 days for short sales.

Also important is the List Price (LP) to Sold Price (SP) percentage. During the month of November the closed sales averaged  -.50% of list price.

Understanding the current fair market value and pricing the home accordingly results in fast sales for well priced, well maintained homes in the desirable Lake Hills Reserve, Riverside, CA.

If you need assistance with the buying or selling of homes in the Lake Hills Reserve or need answers for your real estate questions call me!