Tightening Inventory with Steady Demand

Riverside’s real estate market is showing signs of tightening, with inventory currently at 1.96 months supply. This represents a 7% decrease from last month and a significant 24% drop compared to last year, signaling a shift toward more competitive conditions.

New listings are priced at a median of $675,000, while active listings are slightly higher at $699,000, reflecting steady seller confidence despite changing market dynamics.

Homes are selling at a median price of $650,000, with a 99.16% sold-to-list price ratio, demonstrating continued strong demand. However, there has been a 2% month-over-month dip in pricing, suggesting slight adjustments as the market evolves.

Buyers are still acting quickly, with the median days on market decreasing by 11% to 39 days. This reduction indicates that well-priced homes continue to attract immediate interest.

Overall, Riverside remains a seller-favored market, but declining inventory is increasing competition, requiring buyers to act decisively.

Declining Inventory Strengthens Seller Position

San Bernardino’s housing market is experiencing a notable contraction in supply, with a current inventory level of 2.03 months, reflecting a 12% decline from last month and a 24% decrease year-over-year. This tightening inventory is reinforcing seller leverage across the region.

The market currently includes 131 new listings with a median price of $524,900, while 233 active listings are priced slightly lower at a median of $490,000, offering a range of opportunities for buyers.

Pending activity remains strong, with 119 homes under contract at a median list price of $499,000, and properties spending just 22 days on the market, indicating steady buyer engagement.

Closed sales show a median sold price of $496,000, reflecting a modest 3% decrease, with homes taking a median of 37 days to close. While prices have softened slightly, demand remains consistent.

Overall, San Bernardino continues to favor sellers, with declining inventory and active buyer participation maintaining a competitive environment.

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