Moreno Valley Califoria Market Conditions: Summer 2010
Prices are stabilizing, and the months of inventory is increasing. We are now at about 2.55 months of inventory (in contrast the months of inventory was 1.7 months on 4/29/2010), based on the number of pending sales in 1-month vs. the number of listings. This is generally because the number of listings is growing while the number of sales is decreasing. Chart is for all homes between 1600-1800 square feet in size.
|
Time Period |
Number of sales |
Average DOM |
Median Sales Price |
|
Current 3 months |
91 |
59 |
$160,000 |
|
3-6 months back |
106 |
66 |
$158,800 |
|
6-9 months back |
119 |
34 |
$151,000 |
Just the Moreno Valley numbers: for active listings and sales and pending sales in 1-month as of 8/2/2010
|
|
Standard |
REO |
Short |
Owner Occ. |
Vacant |
Rented |
|
Active |
23% |
21% |
47% |
43% |
39% |
19% |
|
Pending |
25% |
39% |
34% |
34% |
57% |
4% |
|
Sold |
26% |
40% |
30% |
22% |
65% |
11% |
Most of the listings are short sales (sellers without equity)
Most of the pending and sales are the REOs
Most of the listings are owner occupied
Most of the pending and closed sales are vacant properties
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