Despite the reduction in inventory, real estate sales in Riverside and San Bernardino Counties are on the increase. If you were thinking about it, It’s a good time to sell!
The Inland Empire saw a 10.4 percent increase of existing home sales year over year, the biggest gain for regions in the state. The Los Angeles metropolitan area came in second at 8.3 percent, followed by the Bay Area at 6.1 percent.
The median price for existing homes in the Inland Empire hit $346,380, up $5,670 from May and $27,280 from a year ago, when the median was $319,100.
In Riverside County, the median was $385,000, less than half of Orange County’s median of $795,000, which may explain part of the Inland rise. Economists say the high cost of living in this state is turning coastal residents into Inland commuters.
In San Bernardino County, the median was $274,330.
If you are a homeowner looking for an accurate value for your home, I will get you a Free Market Analysis done by hand (not an automated CMA or Zestimate). Call me on my cell (951) 310-4816