$10,000 Closing Credit*
$879,999
2,951 SqFt
5 Beds
•3 Full Baths
Paul Fernandez, Listing Office: eXp Realty of Greater Los Angeles
Is Riverside, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Riverside has remained a Seller's Market.
Key Takeaway
Riverside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverside, CA
How much do homes in Riverside, CA cost?
Median Sold Price
$654,996
$374/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$46,019(+7.6%)
Key Takeaway
Homes in Riverside have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Riverside was $654,996 in September 2024, up 7.6% from last year, and the median price per square foot was $374.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $304.9K | $325K | +6.6% |
| 2 Bedrooms | $450K | $492.7K | +9.5% |
| 3 Bedrooms | $565K | $610K | +8.0% |
| 4 Bedrooms | $675K | $715K | +5.9% |
| 5+ Bedrooms | $800K | $848.7K | +6.1% |
Summary: Riverside housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Jurupa | $720K | $782.1K | +8.6% |
| Riverside | $608.9K | $654.9K | +7.6% |
| Moreno Valley | $515.5K | $545.5K | +5.8% |
| Colton | $468K | $495K | +5.8% |
| Lake Mathews | $765K | $795.9K | +4.0% |
Housing Supply in Riverside, CA
How many homes are available in Riverside, CA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 820 | 798 | -2.7% |
Summary: The Riverside real estate market had 798 homes for sale in September 2024, a 2.7% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 67 | 74 | +10.4% |
| 3 Bedrooms | 305 | 285 | -6.6% |
| 4 Bedrooms | 302 | 282 | -6.6% |
| 5+ Bedrooms | 134 | 144 | +7.5% |
Summary: The Riverside housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 10.4%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 7.5%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 210 | 177 | -15.7% |
Asking Price vs. Sold Price
65 Homes Were Sold
Under Asking
43 Homes Were Sold
At Asking
69 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverside, you could pay more than the asking price. 39% of homes here sold above asking price last month.
Summary: A total of 177 homes were sold or pending in Riverside in September 2024, down by 15.7% month-over-month. Of the 177 sold homes, 37% were sold under asking, 24% were sold at asking, and 39% were sold over asking.
Days on Market for Riverside, CA
How long does it take to sell a home in Riverside, CA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 19 Days | 32 Days | +62.4% |
Summary: Homes in Riverside had an average of 32 days on market in Sep 2024, up by 62.4% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
58 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverside are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 177 homes were sold in Riverside; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.