Riverside CA - Homes for Sale - Market Report Feb 2009
Here is the latest look at Riverside California residential real estate. These tables show real estate sales for single family homes in Riverside in February 2009.
The number of active listings and pending listings is as March 5, 2009. Pending listings are homes that are currently in escrow. The average list price of sold homes means the average price of the homes at the time they went into escrow and then the average selling price of the homes is also listed.
If you can afford to buy a home in Riverside, it is definitely a good time with the low prices of homes, the low interest rates and the $8000 credit for first time home buyers (or those who have not owned a home in the last three years). Check today's interest rates here.
| 92501 | |
| Active Listings | 100 |
| Number of Pending Homes | 61 |
| Number of Homes Sold | 17 |
| Average List Price of Sold Homes | $168,562 |
| Average Selling Price of Sold Homes | $161,741 |
| 92503 | |
| Active Listings | 455 |
| Number of Pending Homes | 250 |
| Number of Homes Sold | 76 |
| Average List Price of Sold Homes | $194,375 |
| Average Selling Price of Sold Homes | $217,143 |
| 92504 | |
| Active Listings | 287 |
| Number of Pending Homes | 114 |
| Number of Homes Sold | 47 |
| Average List Price of Sold Homes | $163,579 |
| Average Selling Price of Sold Homes | $161,911 |
| 92505 | |
| Active Listings | 190 |
| Number of Pending Homes | 98 |
| Number of Homes Sold | 41 |
| Average List Price of Sold Homes | $188,399 |
| Average Selling Price of Sold Homes | $188,579 |
| 92506 | |
| Active Listings | 208 |
| Number of Pending Homes | 97 |
| Number of Homes Sold | 35 |
| Average List Price of Sold Homes | $249,419 |
| Average Selling Price of Sold Homes | $247,246 |
| 92507 | |
| Active Listings | 164 |
| Number of Pending Homes | 54 |
| Number of Homes Sold | 22 |
| Average List Price of Sold Homes | $174,964 |
| Average Selling Price of Sold Homes | $167,354 |
| 92508 | |
| Active Listings | 185 |
| Number of Pending Homes | 91 |
| Number of Homes Sold | 37 |
| Average List Price of Sold Homes | $309,179 |
| Average Selling Price of Sold Homes | $302,872 |
| 92509 | |
| Active Listings | 347 |
| Number of Pending Homes | 185 |
| Number of Homes Sold | 73 |
| Average List Price of Sold Homes | $171,009 |
| Average Selling Price of Sold Homes | $170,810 |
Here are a few observations in comparing these figures to January 2009. In every zip code there are fewer active listings compared to a month ago - it appears that our inventory of homes for sale is shrinking a bit. Also, there are more houses are currently in escrow than one month ago. The other point I find interesting is that generally speaking housing prices still appear to be coming down as the selling prices were lower in six out of the eight zip codes.
If you are thinking of buying or selling a home in Riverside or Corona or would like to get help with buying a home, please contact me at vicki@pedersen-team.com. Visit my website. Pedersen Real Estate DRE#01435175
Copyright © 2009 by Vicki Pedersen, All Rights Reserved.*Riverside CA housing market - Riverside CA real estate - houses for sale*
Tim, It is very good that there are a lot of pending homes. One thing that might skew the prices is if I was able to list the price when the properties first went on the market vs. the selling price. There would probably be a bigger difference.
Vicki: Love the charts, as they spell out exactly what is going on in your market/area. We are also seeing FEWER listings. IN fact, compared to a year ago, we're down about 100 plus.
Kat, It is good to see the inventory shrinking in Southern California. It is a good sign. How's the weather up in Arrowhead?
Vicki
Thank you for posting this every month. It really helps me see where I need to market myself as a Notary Public/Loan-Signer.
Joan, I'm glad that this information is helpful to you.
If you are interested in purchasing a new home in the California are abe sure to check out http://www.neighborcity.com/CA
How much of an affect do you think the recent moratoriums are having on the decrease in listings?
Matt, I don't have any figures, but I do believe that the moratoriums are reducing (at least temporarily) the number of foreclosure listings right now. In looking for houses for my buyer clients, I'm seeing fewer foreclosures and more short sales.