Is Moreno Valley, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Moreno Valley is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Moreno Valley has remained a Seller's Market.

Key Takeaway

Moreno Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Moreno Valley, CA

How much do homes in Moreno Valley, CA cost?

Median Sold Price

$530,000

$301/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$10,000(+1.9%)

Key Takeaway

Homes in Moreno Valley have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in Moreno Valley was $530,000 in March 2024, up 1.9% from last year, and the median price per square foot was $301.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $210K-
N/A
2 $412K$420K
+1.9%
3 $499K$506.3K
+1.5%
4 $550K$565K
+2.7%
5+ $622.5K$629.6K
+1.1%

Summary: Moreno Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Cities

Riverside
+6.9%
Perris
+2.9%
Moreno Valley
+1.9%
Perris Valley
+1.8%
San Gorgonio Pass
-1.1%

Housing Supply in Moreno Valley, CA

How many homes are available in Moreno Valley, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
349363+4.0%

Summary: The Moreno Valley real estate market had 363 homes for sale in March 2024, a 4.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 2220
-9.1%
3 128131
+2.3%
4 150165
+10.0%
5+ 4947
-4.1%

Summary: The Moreno Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 4.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
73110+50.7%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

61 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Moreno Valley, you could pay more than the asking price. 55.5% of homes here sold above asking price last month.

Summary: A total of 110 homes were sold or pending in Moreno Valley in March 2024, up by 50.7% month-over-month. Of the 110 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.

Days on Market for Moreno Valley, CA

How long does it take to sell a home in Moreno Valley, CA?

Average Sale Time

Mar 2023Mar 2024CHANGE
47 Days23 Days-50.5%

Summary: Homes in Moreno Valley had an average of 23 days on market in Mar 2024, down by 50.5% compared to last year.

Breakdown of Home Sale Times

82 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Moreno Valley are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 110 homes were sold in Moreno Valley; 75% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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