Is Riverside County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$599,986
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Riverside County have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Riverside County was $599,986 in June 2024, up 4.9% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.4K | $280K | 0.2% |
| 2 Bedrooms | $421.8K | $434.1K | +2.9% |
| 3 Bedrooms | $550K | $579.9K | +5.4% |
| 4 Bedrooms | $634.2K | $670.1K | +5.7% |
| 5+ Bedrooms | $748.8K | $779.9K | +4.2% |
Summary: Riverside County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Counties
| Orange County | $966.8K | $1.1M | +14.6% |
| San Diego County | $808.6K | $882.7K | +9.2% |
| Riverside County | $571.9K | $599.9K | +4.9% |
| San Bernardino County | $489.7K | $512.8K | +4.7% |
Housing Supply in Riverside County, CA
How many homes are available in Riverside County, CA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 9,521 | 9,490 | -0.3% |
Summary: The Riverside County real estate market had 9,490 homes for sale in June 2024, a 0.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 247 | 248 | 0.4% |
| 2 Bedrooms | 1,799 | 1,815 | +0.9% |
| 3 Bedrooms | 3,527 | 3,493 | -1.0% |
| 4 Bedrooms | 2,734 | 2,694 | -1.5% |
| 5+ Bedrooms | 1,214 | 1,240 | +2.1% |
Summary: The Riverside County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 0.4%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 2.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2,265 | 1,945 | -14.1% |
Asking Price vs. Sold Price
779 Homes Were Sold
Under Asking
427 Homes Were Sold
At Asking
739 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. 40.1% of homes here sold below asking price last month.
Summary: A total of 1,945 homes were sold or pending in Riverside County in June 2024, down by 14.1% month-over-month. Of the 1,945 sold homes, 40% were sold under asking, 22% were sold at asking, and 38% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 36 Days | 38 Days | +5.6% |
Summary: Homes in Riverside County had an average of 38 days on market in Jun 2024, up by 5.6% compared to last year.
Breakdown of Home Sale Times
1,159 Homes Were Sold
Under 30 Days
574 Homes Were Sold
In 30 - 90 Days
212 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 June 2024, 1945 homes were sold in Riverside County; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 11% 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. 
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