Here are the latest market statistics for Riverside County. One thing jumps out to me and that is the "Months of Inventory" being at 6 months. This is almost double the inventory levels since May 2018. It is common practice to consider 6 months of inventory as the indicator of a balanced market. This means it is a level playing field where neither the seller or buyer has a unique advantage. Let's enjoy "normal" before the market shifts to the next extreme!
Latest market statistics for Riverside County. Here are the obvious observations....(1) Average sales price dipped under $400k for the first time since May. (2) Notice the annual pace of sales has slowed consistently and is down almost 18% from a year ago. (3) Average Days on Market continues to slowly increase each month and is now over 40 days. But guess what...my listings are still selling with in a week or two and for full price or very close. The key is knowing how to properly position a home to sell based on current conditions. Let me know if I can help. Larry 951-440-4177
If you are ready to start your buying or selling process
give me a call at 951-440-4177 - I´m happy to answer all your questions.