Riverside housing statistics from the last 60 days

Some sanity has returned to Riverside as the prices of available houses have dropped a little while those of solds have risen a bit. Instead of a 64k gap, there is now one of about 15k for 2 and fewer bedroom houses while there is one of about 21k for 3-bedrooms as opposed to some 48k toward the end of May. The number of 3 and fewer bedroom houses in escrow since 6/15/06 is actually very similar to the number that closed escrow during the same period of time, which shows a rather stable market. The 4+ bedroom range, which is the highest part of the market, looks much the same as it did in May though with more available properties.

Despite some doom and gloom reports on condos in other areas (San Diego, in particular, which is probably the hardest hit area of Southern California), condos remain strong in Riverside. Prices are still rising somewhat. This situation has to do, of course, with the comparative lack of condos in Riverside. While there have been a few conversions of late, they tend to have less square footage than the older complexes, and so these are still retaining their value despite the overall slowdown.

This data comes from the IMRMLS and does not include For Sale by Owners and properties that were only listed in other boards. I've been able to clean up some of the data by putting in Riverside 2x, using both the number code and RVSD, to avoid out-of-area properties that had been input incorrectly. However, we're still having occasional problems with agents who can't type or perhaps have dyslexia, so the numbers may be skewed by such errors. I was able to find days on market this time for expired single family residences but was unable to do so for condos.



Houses

2 and less
Available: 138 Avg. Price: 374,434 Avg. Days On Market: 59
Pending: 31 Avg. Price: 348,725 Avg. DOM: 58
Backup: 10 Avg. Price: 344,300 Avg. DOM: 63
Sold: 43 Avg. Price: 359,450 Avg. DOM: 31
Expired: 34 Avg. Val: 360,452 Avg. DOM: 85

3:
Available: 905 Avg. Price: 443,817 Avg. DOM: 59
Pending: 159 Avg. Price: 406,438 Avg. DOM: 58
Backup: 60 Avg. Price: 419,519 Avg. DOM: 71
Sold: 254 Avg. Price: 422,461 Avg. DOM: 51
Expired: 278 Avg. Val: 443,095 Avg. DOM: 50

4+
Available: 1142 Avg. Price: 638,396 Avg. DOM: 62
Pending: 62 Avg. Price: 550,093 Avg. DOM: 57
Backup: 41 Avg. Price: 525,841 Avg. DOM: 75
Sold: 277 Avg. Price: 553,986 Avg. DOM: 47
Expired: 330 Avg. Val: 641,890 Avg. DOM: 57

Condos:

2 and less:
Available: 68 Avg. Price: 276,752 Avg. DOM: 48
Pending: 13 Avg. Price: 242,161 Avg. DOM: 39
Backup: 4 Avg. Price: 271,200 Avg. DOM: 60
Sold: 14 Avg. Price: 273,207 Avg. DOM: 26
Expired: 6 Avg. Val: 272,150 Avg. DOM: Unavailable

3:
Available: 24 Avg. Price: 333,770 Avg. DOM: 47
Pending: 10 Avg. Price: 358,700 Avg. DOM: 64
Backup: 0
Sold: 15 Avg. Price: 341,486 Avg. DOM: 39
Expired: 2 Avg. Val: 328,450 Avg. DOM: Unavailable

4+:
Available: 8 Avg. Price: 450,825 Avg. DOM: 57
Pending: 1 Avg. Price: 299,900 Avg. DOM: 17
Backup: 0
Sold: 0
Expired: 2 Avg. Val: 381,950 Avg. DOM: Unavailable