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, 553 single family homes and a total of 16 condos/townhomes sold, up 297 from last month. 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, up 42 from last month
309 Single Family Homes
5 Condos/Townhomes
Pending Sales For May 2008, Up 59 from last month
941 Single Family Homes
18 Condos/Townhomes
Current Actives As of Today's Post, Down 67 from last month
1,935 Single Family Homes
73 Condos/Townhomes
Foreclosure Activity for May 2008
92551 - 137 Notice of Defaults (NOD) Up 11 from last month
92551 - 115 Notice of Foreclosure Sale (NOS) Down 4 from last month
92553 - 175 Notice of Defaults (NOD) Down 32 from last month
92553 - 186 Notice of Foreclosure Sale (NOS) Up 8 from last month
92555 - 134 Notice of Defaults (NOD) Up 4 from last month
92555 - 125 Notice of Foreclosure Sale (NOS) Down 11 from last month
92557 - 125 Notice of Defaults (NOD) Up 1 from last month
92557 - 138 Notice of Foreclosure Sale (NOS) Down 2 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 July 27, 2008 for Moreno Valley is $124, 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.
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