According to a new article in MSN, Riverside and the San Bernardino area of Riverside County California is one of the hottest real estate markets to watch in 2016. This area, known locally as the Inland Empire, is rich in history and where Spanish and Victorian styles and architecture mix. Many first time home buyers prefer this location as it's close to LA without being "in the city" and close to resort places like Palm Springs. It's about an hour to the beach and close to hiking at Mount Rubidoux and the Sycamore Canyon Wilderness Park. 
The area also appeals to young buyers and millennials for the wealth of gastropubs, wineries and breweries. With a population of about $210,000, the median age is 29. The city borders itself extend into uninhabited desert areas, which is why it's called Inland Empire. This area as well as surrounding communities are rapidly growing and have increasingly self-sufficient economies. Compared to the rest of the country, San Bernardino's cost of living is 1.6% lower than the US average.
The north part of the city is growing the fastest with newer subdivisions and developments. Homes in this area are typically over $400,000.
Currently the the average listing price for San Bernardino is about $262,000 with the median sales price of $235,000, up nearly 20% over last year. The current days on the market is about 62 in the median list price is $225,000, up 10% from one year ago in January, 2015. Last year there were 7% distressed properties and today it's just at 2%. Riverside California, nestled just south of the San Bernardino book bordering the city Has an Average List Price of $422,000 with the Median Sales Price of $335,000, up about 11% over Last Year. Riverside typically has more properties for sale, usually between 500 and 700 listings whereas Riverside has anywhere from 700 to 900 listings at a time. This includes foreclosures, short sales, lots and pre-foreclosure properties.
San Bernardino's livability rating is at about 71. We received an A+ for amenities and an a for our weather, being mostly sunny the majority of the year. Housing received a B in cost of living received a C.
For more information about homes and real estate in San Bernardino or Riverside, or anywhere in Riverside County California please visit my website or contact me today for a customized list of homes and real estate that meet your search criteria. Image by Loco Steve
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