Is Riverside County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Riverside County has remained a Seller's Market.
Housing Prices in Riverside County, CA
How much do homes in Riverside County, CA cost?
Median Sold Price
$599,000
$319/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Riverside County was $599,000 in May 2024, up 4.2% from last year, and the median price per square foot was $319.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $283.3K | $280K | -1.2% |
2 Bedrooms | $424.7K | $433.6K | +2.1% |
3 Bedrooms | $550.3K | $579.5K | +5.3% |
4 Bedrooms | $635.2K | $668.8K | +5.3% |
5+ Bedrooms | $749.9K | $779.6K | +4.0% |
Summary: Riverside County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 2.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Counties
Orange County | $964.1K | $1.0M | +14.0% |
San Diego County | $809.6K | $875.6K | +8.2% |
Riverside County | $574.8K | $599K | +4.2% |
San Bernardino County | $490.9K | $509.9K | +3.9% |
Housing Supply in Riverside County, CA
How many homes are available in Riverside County, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9,368 | 9,648 | +3.0% |
Summary: The Riverside County real estate market had 9,648 homes for sale in May 2024, a 3.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 228 | 246 | +7.9% |
2 Bedrooms | 1,811 | 1,881 | +3.9% |
3 Bedrooms | 3,583 | 3,619 | +1.0% |
4 Bedrooms | 2,616 | 2,685 | +2.6% |
5+ Bedrooms | 1,130 | 1,217 | +7.7% |
Summary: The Riverside County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,176 | 2,165 | -0.5% |
Asking Price vs. Sold Price
902 Homes Were Sold
Under Asking
494 Homes Were Sold
At Asking
768 Homes Were Sold
Over Asking
Summary: A total of 2,165 homes were sold or pending in Riverside County in May 2024, down by 0.5% month-over-month. Of the 2,164 sold homes, 42% were sold under asking, 23% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 41 Days | -11.7% |
Summary: Homes in Riverside County had an average of 41 days on market in May 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
1,249 Homes Were Sold
Under 30 Days
651 Homes Were Sold
In 30 - 90 Days
265 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2165 homes were sold in Riverside County; 58% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.