Riverside County (California) Real Estate Market – Jan. '14
Chart Definitions & Analysis:
Median Sold Price by Month-This chart shows the middle price point of a group of properties that successfully Sold during the time period chosen. Thus, half sold for more than the median and half sold for less. Tracking the movement of median prices over time provides a good visual indicator of the direction market forces are pushing prices.
The Number of Sold Properties by Month-This chart showsthe number of properties that sold (closed escrow) each month for the time period chosen. This sale provides useful insight into how consumer demand is changing over time. This metric is a direct measure of current sales activity and a leading indicator of market demand. Last month shows an increase compared to the month before.
The Number of Active Properties by Month-This chart showsthe number of the properties that were For Sale each month during the time period chosen. This sales metric provides useful insight into the overall supply of properties that exist on a monthly basis.
Supply & Demand by Month (for Sale VS Sold Properties)-This chart showsthe basic supply and demand relationships that existed each month for the time period chosen. The combined metric provides valuable insight into current market conditions because it reflects the collective actions of all participants (buyers and sellers).
Month’s Supply of Inventory (MSI)-This chart showsthe time, in months, that it would take to “sell” the remaining inventory for the month in question. This metric is a “one number summary” of how market supply and demand are changing from month to month. (0-3 months – indicate that supply & demand are converging, 4-6 months – indicate that S&D are in balance, 7+ months – indicate that S&D are diverging). Last month shows a decrease compared to the month before.
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Riverside County (California) Real Estate Market – Jan. '14
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