Is Riverside, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside is a seller's market

Buyer's
Market

Difference Since November 2021

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.

How much do homes in Riverside, CA cost?

Median Sold Price

$590,052

$365/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$70,053(+13.5%)

Key Takeaway

Homes in Riverside have sold for 13.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $235K$315K
+34.0%
2 $375K$433.2K
+15.5%
3 $495K$560K
+13.1%
4 $575K$640.6K
+11.4%
5+ $714K$790K
+10.6%

Median Sold Price Compared To Nearby Cities

Colton
+20.9%
Jurupa
+14.5%
Moreno Valley
+14.3%
Riverside
+13.5%
Lake Mathews
+8.9%

How many homes are available in Riverside, CA?

Number of Homes For Sale

Oct 2022Nov 2022%
597544-8.9%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 53
-40.0%
2 6455
-14.1%
3 260247
-5.0%
4 203180
-11.3%
5+ 6559
-9.2%

Number of Homes Sold

Oct 2022Nov 2022%
161113-29.8%

Asking Price vs. Sold Price

45 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

37 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside, you may be able to get a good deal. 39.8% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
19 Days36 Days+85.6%

Breakdown of Home Sale Times

66 Homes Were Sold
Under 30 Days

35 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Riverside, CA

Riverside, CA has 544 homes on the market. The number of listings in Riverside, CA decreased by 8.9% between October 2022 and November 2022. Listings spent 36 days on the market in November 2022, and had a median list price of $590,052 during the same period. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 34%, 2 bedrooms properties prices increased by 15.5%, prices of 3 bedrooms properties went up by 13.1%, 4 bedrooms properties prices increased by 11.4%, 5 bedrooms properties became 10.6% more expensive. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes decreased by 40%, volume of 2 bedrooms homes went down by 14.1%, 3 bedrooms homes inventory decreased by 5%, 4 bedrooms homes became 11.3% less available, number of 5 bedrooms homes decreased by 9.2%. Riverside, CA housing market in November 2022 saw over 37 listings sold above listed price, more than 31 sold at listed price and over 45 sold below.

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