Is Riverside, 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 has remained a Seller's Market.
Housing Prices in Riverside, CA
How much do homes in Riverside, CA cost?
Median Sold Price
$631,054
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Riverside was $631,054 in March 2024, up 6.9% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $304.9K | $325K | +6.6% |
2 Bedrooms | $439K | $480K | +9.3% |
3 Bedrooms | $560K | $590K | +5.4% |
4 Bedrooms | $642.9K | $696.8K | +8.4% |
5+ Bedrooms | $795.5K | $840K | +5.6% |
Summary: Riverside housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
Riverside | $590.5K | $631K | +6.9% |
Lake Mathews | $749K | $799.9K | +6.8% |
Jurupa | $733.3K | $751.4K | +2.5% |
Moreno Valley | $520K | $530K | +1.9% |
Colton | $470K | $473.3K | +0.7% |
Housing Supply in Riverside, CA
How many homes are available in Riverside, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
643 | 655 | +1.9% |
Summary: The Riverside real estate market had 655 homes for sale in March 2024, a 1.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 48 | 44 | -8.3% |
3 Bedrooms | 232 | 239 | +3.0% |
4 Bedrooms | 242 | 244 | +0.8% |
5+ Bedrooms | 113 | 119 | +5.3% |
Summary: The Riverside housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
172 | 179 | +4.1% |
Asking Price vs. Sold Price
54 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
92 Homes Were Sold
Over Asking
Summary: A total of 179 homes were sold or pending in Riverside in March 2024, up by 4.1% month-over-month. Of the 179 sold homes, 30% were sold under asking, 18% were sold at asking, and 51% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
39 Days | 33 Days | -16.1% |
Summary: Homes in Riverside had an average of 33 days on market in Mar 2024, down by 16.1% compared to last year.
Breakdown of Home Sale Times
118 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Summary: During March 2024, 179 homes were sold in Riverside; 66% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.