I started keeping track of real estate market activity in Riverside CA four months ago for my blog readers and decided compare these four months side-by-side. The information is organized by each Riverside zip code. The most apparent trend that I can see is that the price of homes, both the list price and the sale price, has continued to decline. That hasn't been the case all the time, but it is definitely a trend worth noting. There isn't a big difference between the sales prices of the homes vs. the list prices at the time of sale and even sometimes the sale prices are higher than the list prices, which often happens with multiple offers - even in our current market.
Homes are still selling. In fact, in working with buyers over the last few months, I have seen many times when there were multiple offers in on the houses for sale. Many people who have been sitting on the fence are getting off the fence now and buying homes now while there is still a good inventory of homes, low housing prices and very low interest rates. FHA loans are the loans of choice right now for most buyers. You don't have to have perfect credit and the minimum down payment you will need is 3.5% with an FHA loan.
| 2008 | ||||
| 92501 | Sept | Oct | Nov | Dec |
| # of Active Listings | 129 | 164 | 150 | 136 |
| # of Sold Homes | 28 | 23 | 14 | 27 |
| Avg Price of Sold Homes | $201,638 | $187,343 | $167,218 | $184,346 |
| *Avg List Price of Sold Homes | $204,228 | $190,091 | $163,200 | $176,573 |
| 92503 | Sept | Oc t | Nov | Dec |
| # of Active Listings | 491 | 657 | 625 | 545 |
| # of Sold Homes | 85 | 112 | 113 | 114 |
| Avg Price of Sold Homes | $265,062 | $276,216 | $241,134 | $234,810 |
| *Avg List Price of Sold Homes | $266,584 | $274,552 | $248,295 | $240,096 |
| 92504 | Sept | Oct | Nov | Dec |
| # of Active Listings | 314 | 374 | 359 | 350 |
| # of Sold Homes | 53 | 61 | 46 | 57 |
| Avg Price of Sold Homes | $245,989 | $249,359 | $192,409 | $225,094 |
| *Avg List Price of Sold Homes | $251,221 | $245,976 | $194,360 | $230,503 |
| 92505 | Sept | Oct | Nov | Dec |
| # of Active Listings | 223 | 302 | 274 | 252 |
| # of Sold Homes | 45 | 45 | 52 | 48 |
| Avg Price of Sold Homes | $233,556 | $224,054 | $214,241 | $225,540 |
| *Avg List Price of Sold Homes | $237,323 | $230,946 | $212,919 | $216,132 |
| 92506 | Sept | Oct | Nov | Dec |
| # of Active Listings | 256 | 270 | 262 | 250 |
| # of Sold Homes | 39 | 48 | 42 | 32 |
| Avg Price of Sold Homes | $326,717 | $309,677 | $304,813 | $290,709 |
| *Avg List Price of Sold Homes | $332,734 | $309,963 | $298,404 | $313,085 |
| 92507 | Sept | Oct | Nov | Dec |
| # of Active Listings | 160 | 192 | 182 | 175 |
| # of Sold Homes | 33 | 24 | 28 | 25 |
| Avg Price of Sold Homes | $226,187 | $219,221 | $184,027 | $169,254 |
| *Avg List Price of Sold Homes | $230,187 | $222,887 | $187,980 | $177,514 |
| 92508 | Sept | Oct | Nov | Dec |
| # of Active Listings | 188 | 237 | 223 | 212 |
| # of Sold Homes | 51 | 57 | 47 | 44 |
| Avg Price of Sold Homes | $333,098 | $340,782 | $328,029 | $313,498 |
| *Avg List Price of Sold Homes | $332,783 | $340,407 | $323,450 | $322,531 |
| 92509 | Sept | Oct | Nov | Dec |
| # of Active Listings | 398 | 512 | 463 | 439 |
| # of Sold Homes | 71 | 90 | 58 | 68 |
| Avg Price of Sold Homes | $218,100 | $197,145 | $225,102 | $218,265 |
| *Avg List Price of Sold Homes | $220,771 | $205,993 | $226,588 | $211,330 |
| *Average list price of sold homes is as of the date the houses went into escrow |
Let me know if you are interested in receiving listings for Riverside CA homes for sale or if you are thinking of selling your Riverside CA home. You can contact me at 951-840-5212 or email at vicki.pedersen@gmail.com Visit my website, Riverside and Corona Real Estate.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212
Copyright © 2008 by Vicki Pedersen, All Rights Reserved.*Houses for Sale in Riverside CA - Market Report December 2008*
Comments(4)