Competitive Market with Rising Home Values

Riverside continues to offer buyers more affordability than neighboring Orange County while maintaining strong market activity. The market currently has a 2.44-month supply of inventory, representing a 5% decrease from the previous month and a 17% decline compared to last year.

Active listings stand at 503 homes with a median list price of $729,000, while newly listed properties are entering the market at a median price of $698,750. Although inventory remains limited, Riverside continues to attract buyers seeking more attainable housing options throughout the Inland Empire.

Market activity remains strong, with homes spending an average of just 23 days in RPR before selling. The Sold-to-List Price Percentage remains nearly identical to asking prices at 99.94%, demonstrating continued buyer competition and limited room for negotiation.

The median sold price climbed to $685,000, reflecting a healthy 6% increase from the previous month. This price growth highlights continued demand and confidence in the local market.

Overall, Riverside remains a strong seller's market characterized by limited inventory, rising home values, and steady buyer demand.

Limited Supply Creates Seller Advantage

San Bernardino's housing market continues to benefit from low inventory levels and strong buyer interest. The market currently has only a 2.13-month supply of inventory, representing a 3% decline from the previous month and a significant 27% decrease compared to one year ago.

While inventory remains constrained, buyers still have opportunities to explore new listings entering the market. During May, 154 new listings were added with a median list price of $539,000. The area's relative affordability compared to neighboring counties continues to attract both first-time buyers and move-up purchasers.

Buyer demand remains strong, with pending properties spending a median of 21 days on the market. Sellers continue to benefit from competitive conditions, as homes are selling for an average of 100.48% of their list price, indicating that multiple-offer situations remain common.

The median sold price reached $520,000, reflecting a modest 1% month-over-month increase. Combined with limited inventory, stable price growth continues to reinforce favorable conditions for sellers.

Overall, San Bernardino remains a competitive seller's market where inventory shortages continue to support home prices and encourage quick sales.

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