Is Riverside County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Riverside County has remained a Seller's Market.
Key Takeaway
Riverside County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverside County, CA
How much do homes in Riverside County, CA cost?
Median Sold Price
$589,708
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Riverside County have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Riverside County was $589,708 in March 2024, up 1.7% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $284.4K | $276.5K | -2.8% |
| 2 Bedrooms | $424.9K | $430.2K | +1.2% |
| 3 Bedrooms | $556.3K | $570.4K | +2.5% |
| 4 Bedrooms | $644.1K | $659.9K | +2.5% |
| 5+ Bedrooms | $760K | $769.2K | +1.2% |
Summary: Riverside County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Counties
| Orange County | $982.8K | $1.0M | +7.6% |
| San Diego County | $821K | $860.4K | +4.8% |
| Riverside County | $579.8K | $589.7K | +1.7% |
| San Bernardino County | $499.9K | $500.4K | 0.1% |
Housing Supply in Riverside County, CA
How many homes are available in Riverside County, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8,419 | 8,943 | +6.2% |
Summary: The Riverside County real estate market had 8,943 homes for sale in March 2024, a 6.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 187 | 226 | +20.9% |
| 2 Bedrooms | 1,668 | 1,758 | +5.4% |
| 3 Bedrooms | 3,270 | 3,467 | +6.0% |
| 4 Bedrooms | 2,341 | 2,462 | +5.2% |
| 5+ Bedrooms | 953 | 1,030 | +8.1% |
Summary: The Riverside County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.9%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 8.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,731 | 2,054 | +18.7% |
Asking Price vs. Sold Price
884 Homes Were Sold
Under Asking
441 Homes Were Sold
At Asking
728 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverside County, you may be able to get a good deal. 43.1% of homes here sold below asking price last month.
Summary: A total of 2,054 homes were sold or pending in Riverside County in March 2024, up by 18.7% month-over-month. Of the 2,053 sold homes, 43% were sold under asking, 21% were sold at asking, and 35% were sold over asking.
Days on Market for Riverside County, CA
How long does it take to sell a home in Riverside County, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 52 Days | 43 Days | -18.4% |
Summary: Homes in Riverside County had an average of 43 days on market in Mar 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
1,138 Homes Were Sold
Under 30 Days
601 Homes Were Sold
In 30 - 90 Days
314 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverside County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2054 homes were sold in Riverside County; 55% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
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