$5,771 Closing Credit*
$486,000
984 SqFt
2 Beds
•1 Full Bath
Helen Stephens, Listing Office: Realty ONE Group Southwest
Is Downtown Riverside, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Downtown Riverside was a Seller's Market.
Key Takeaway
Downtown Riverside is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Riverside, CA
How much do homes in Downtown Riverside, CA cost?
Median Sold Price
$562,500
$411/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$7,500(-1.3%)
Key Takeaway
Homes in Downtown Riverside have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Downtown Riverside was $562,500 in October 2024, down 1.3% from last year, and the median price per square foot was $411.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $404.5K | N/A |
| 2 Bedrooms | $426K | $510.4K | +19.8% |
| 3 Bedrooms | $565K | $577K | +2.1% |
| 4 Bedrooms | $605.7K | $735K | +21.3% |
| 5+ Bedrooms | $694.5K | $680K | -2.1% |
Summary: Downtown Riverside housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Northside | $522K | $591K | +13.2% |
| Wood Streets | $580K | $610K | +5.2% |
| Grand | $592.5K | $615K | +3.8% |
| Downtown Riverside | $570K | $562.5K | -1.3% |
Housing Supply in Downtown Riverside, CA
How many homes are available in Downtown Riverside, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Summary: The Downtown Riverside real estate market had 27 homes for sale in October 2024, a 6.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Downtown Riverside housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 3 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Riverside, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Downtown Riverside in October 2024, down by 66.7% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Downtown Riverside, CA
How long does it take to sell a home in Downtown Riverside, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 118 Days | 26 Days | -77.4% |
Summary: Homes in Downtown Riverside had an average of 26 days on market in Oct 2024, down by 77.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Riverside are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Downtown Riverside; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.