No matter what the market, people will continue to desire to live in Moreno Valley, as it remains one of the most active cities within Riverside County. Comparatively speaking, the Moreno Valley housing market continues to post brisk sales.
In of May 2008, 267 single family homes and a total of 5 condos/townhomes sold, 19 less than last month. The number of new foreclosure sales is about the double as the number of monthly sales, not much change for the long term as NOD's continue to increase. My overall view of the market is still slipping in cost per square foot while the sales numbers are stabilizing a little.
For a full county market report Click Here.
Closed Sales For May 2008, up54 from last month
267 Single Family Homes
5 Condos/Townhomes
Pending Sales For May 2008, Up 42 from last month
890 Single Family Homes
10 Condos/Townhomes
Current Actives As of Today's Post, Down 154 from last month
2,013 Single Family Homes
62 Condos/Townhomes
Foreclosure Activity for May 2008
92551 - 126 Notice of Defaults (NOD) Up 11 from last month
92551 - 119 Notice of Foreclosure Sale (NOS) Up11 from last month
92553 - 207 Notice of Defaults (NOD) Up 8 from last month
92553 - 178 Notice of Foreclosure Sale (NOS) Up 1 from last month
92555 - 130 Notice of Defaults (NOD) Down 13 from last month
92555 - 136 Notice of Foreclosure Sale (NOS) Up 3 from last month
92557 - 124 Notice of Defaults (NOD) Up 17 from last month
92557 - 140 Notice of Foreclosure Sale (NOS) Up 5 from last month
Price Per Square Foot
Looking at the price per square foot helps us understand the value placed on homes in a real estate market. Median Price per Sqft. as of June 15, 2008 for Moreno Valley is $132, down $8 from last month.
By Zip Code:
92551 - Lost $5 a square foot from last month, a $10,000 loss on a 2,000 square foot home
92553 - Lost $11 a square foot from last month, a $22,000 loss on a 2,000 square foot home
92555 - Lost $5 a square foot from last month, a $10,000 loss on a 2,000 square foot home
92557 - Lost $6 a square foot from last month, a $12,000 loss on a 2,000 square foot home
Data Sources: MRMLS, Altosresearch, Foreclosure Radar and Data Quick.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
For information on purchasing your next home in Moreno Valley or anywhere in the Inland Empire call Empire Realty at 909-579-6611 or visit us on the web at Empire Realty.
Empire Realty is your one stop shop for information and Full Service at a Discount.
Comments (0)Subscribe to CommentsComment