Tight Inventory Creates Competitive Conditions

Riverside's housing market became even more competitive in June as inventory continued to tighten. The market now sits at a 2.34-month supply of inventory, representing a 9% decline from last month and a significant 25% decrease compared to one year ago. Fewer homes on the market continue to strengthen seller leverage.

Despite the lower inventory, buyer demand remains strong. Homes are selling quickly, spending a median of just 17 days on the market before going under contract. Sellers are also receiving strong offers, with homes selling at an average of 100.05% of the list price, indicating buyers are often paying at or slightly above asking price.

There are currently 484 active listings with a median list price of $748,500, while new listings entered the market at a median price of $699,999. The combination of limited inventory and steady demand continues to support home values throughout the region.

Overall, Riverside remains a fast-moving seller's market. With inventory continuing to decline, buyers should be prepared to make timely and competitive offers, while sellers continue to benefit from favorable market conditions.

Low Inventory Keeps Sellers in Control

San Bernardino's housing market continues to experience tight inventory, reinforcing strong conditions for sellers. The market currently has just a 1.94-month supply of inventory, down 18% from last month and 42% compared to the same time last year. This significant reduction in available homes continues to limit buyer options.

New listings entered the market with a median list price of $515,000, while active listings carried a slightly higher median price of $525,500. The median sold price came in at $505,000, reflecting a modest 3% decline from the previous month. While prices softened slightly, overall demand remains healthy due to limited inventory.

Homes are spending a median of 26 days on the market before selling, representing a 24% increase from last month. Although properties are taking a bit longer to sell, they continue to move at a relatively fast pace compared to historical averages.

Overall, San Bernardino remains a seller-favored market. Tight inventory continues to support competitive conditions, even as buyers gain slightly more time to evaluate available homes. As inventory remains constrained, sellers are still well-positioned to achieve favorable outcomes.

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