$650,000
21.89 Acres
Land
Jane Noltensmeier, Listing Office: T.N.G. Real Estate Consultants
Is Riverside County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$607,606
$323/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,802(+5.7%)
Key Takeaway
Homes in Riverside County have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Riverside County was $607,606 in October 2024, up 5.7% from last year, and the median price per square foot was $323.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277.9K | $283.6K | +2.0% |
| 2 Bedrooms | $425K | $437.5K | +2.9% |
| 3 Bedrooms | $555.6K | $585.2K | +5.3% |
| 4 Bedrooms | $644.3K | $675K | +4.8% |
| 5+ Bedrooms | $749.6K | $789.2K | +5.3% |
Summary: Riverside County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Counties
| Orange County | $999.7K | $1.1M | +14.9% |
| San Diego County | $831.7K | $894K | +7.5% |
| Riverside County | $574.8K | $607.6K | +5.7% |
| San Bernardino County | $492.9K | $520K | +5.5% |
Housing Supply in Riverside County, CA
How many homes are available in Riverside County, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9,271 | 10,002 | +7.9% |
Summary: The Riverside County real estate market had 10,002 homes for sale in October 2024, a 7.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 207 | 216 | +4.3% |
| 2 Bedrooms | 1,711 | 1,944 | +13.6% |
| 3 Bedrooms | 3,452 | 3,699 | +7.2% |
| 4 Bedrooms | 2,685 | 2,810 | +4.7% |
| 5+ Bedrooms | 1,216 | 1,333 | +9.6% |
Summary: The Riverside County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 9.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,728 | 1,747 | +1.1% |
Asking Price vs. Sold Price
714 Homes Were Sold
Under Asking
448 Homes Were Sold
At Asking
585 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. 40.9% of homes here sold below asking price last month.
Summary: A total of 1,747 homes were sold or pending in Riverside County in October 2024, up by 1.1% month-over-month. Of the 1,747 sold homes, 41% were sold under asking, 26% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 39 Days | +8.3% |
Summary: Homes in Riverside County had an average of 39 days on market in Oct 2024, up by 8.3% compared to last year.
Breakdown of Home Sale Times
978 Homes Were Sold
Under 30 Days
566 Homes Were Sold
In 30 - 90 Days
202 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 October 2024, 1747 homes were sold in Riverside County; 56% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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