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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside County is a neutral's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Riverside County was a Seller's Market.

Key Takeaway

Riverside County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Riverside County, CA cost?

Median Sold Price

$584,875

$315/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$70,110(+13.6%)

Key Takeaway

Homes in Riverside County have sold for 13.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $210.1K$278.3K
+32.5%
2 $354.9K$420.3K
+18.4%
3 $490K$560K
+14.3%
4 $584.9K$648.5K
+10.9%
5+ $685.3K$760.1K
+10.9%

Median Sold Price Compared To Nearby Counties

Riverside County
+13.6%
Orange County
+13.0%
San Diego County
+12.6%
San Bernardino County
+12.3%

How many homes are available in Riverside County, CA?

Number of Homes For Sale

Oct 2022Nov 2022%
8,4888,370-1.4%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 147150
+2.0%
2 1,4611,492
+2.1%
3 3,2533,199
-1.7%
4 2,5312,450
-3.2%
5+ 1,0961,079
-1.6%

Number of Homes Sold

Oct 2022Nov 2022%
1,7691,394-21.2%

Asking Price vs. Sold Price

702 Homes Were Sold
Under Asking

328 Homes Were Sold
At Asking

363 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside County, you may be able to get a good deal. 50.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
23 Days42 Days+81.1%

Breakdown of Home Sale Times

704 Homes Were Sold
Under 30 Days

515 Homes Were Sold
In 30 - 90 Days

175 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Riverside County 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 County, CA

Riverside County, CA has 8,370 homes on the market. The inventory of homes for sale in Riverside County, CA between October 2022 and November 2022 decreased by 1.4%. Listings spent 42 days on the market in November 2022, and had a median list price of $584,875 during the same period. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 32.5%, 2 bedrooms properties prices increased by 18.4%, 3 bedrooms properties prices increased by 14.3%, prices of 4 bedrooms properties went up by 10.9%, the cost of 5 bedrooms properties went up by 10.9%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory increased by 2%, 2 bedrooms homes became 2.1% more available, number of 3 bedrooms homes decreased by 1.7%, number of 4 bedrooms homes decreased by 3.2%, number of 5 bedrooms homes decreased by 1.6%. In November 2022, from all listings sold in Riverside County, CA there were more than 363 sold above asking price, over 702 sold below and more than 328 were sold right at the asked price.

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