We analyze several housing market indicators in order to present an in-depth breakdown of Riverside Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Riverside Real Estate has shown continued signs of improvement with median sales price climbing up while at the same time houses are selling faster.Sellers received 100% of asking price compared to 98% last year.
Key Statistics, Riverside, CA: Median Sales Price (8.00%), Median Days on Market (-13.22%), and Number of Units Sold (-20.95%), Sales Price to List Price Ratio (March 09 98% – March 10 100%)
Riverside Real Estate
The city of Riverside experienced a 8.00% increase in median sales price from last year going up from $201,676 (March 09) to $217,814 (March 2010). Median days on market data for Riverside shows that houses are selling faster than March 09. It took 71 days in March 09 for a house to sell and for March 10 that number has gone down to 61 days (a 13.22% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 506 units were sold compared to 400 for March 10 (-20.95% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Riverside. SP/LP ratio for March 09 was 98% compared to 100% for March 10.
Let’s take a brief look at neighbors Corona and Redlands. Corona Real Estate featured a 4.14% increase in median sales price ($312,558 March 09 – $325,506 March 10) and Redlands Real Estate saw an 12.41% decrease ($297,191 March 09 – $260,303 March 10). Are houses in Corona and Redlands selling faster or slower this year? Well, Corona experienced a 9.66% decrease (66 to 59 days) in median days on market and Redlands saw a 4.45% increase (79 to 82 days). In the units sold category, Corona sold 107 units less (-27.65%) in March 2010 than 09 and Redlands sold 2 units more (4.26%) in March 2010 than March 09.
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