Translate this page

Median price of homes in Riverside County increases

Tuesday, January 14th, 2014
Issue 03, Volume 18.

RIVERSIDE - The median price of a home in Riverside County jumped by 21.2 percent in December, compared with the same month a year ago, while the number of homes sold dipped by 5.5 percent, a real estate information service announced today.

According to DataQuick, the median price of a Riverside County home was $280,000 last month, up from $231,000 in December 2012. A total of 3,068 homes were sold in the county, down from 3,248 during the same month the previous year.

A total of 18,415 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, according to DataQuick. That was up 6.5 percent from 17,283 in November and down 9.2 percent Advertisement
Advertisement for Carrington Home Loans
[ Carrington Home Loans ]
from 20,274 in December 2012.

The median price for a Southern California home was $395,000 in December, up 2.6 percent from $385,000 in November and up 22.3 percent from $323,000 in December 2012.

Last month's median price was the highest since February 2008, when the median was $408,000, according to DataQuick.

"Sales have fallen short of the same period a year earlier for three consecutive months now, and the pitifully low inventory is the main culprit," according to DataQuick President John Walsh. "The jump in home values over the last year suggests we'll eventually see a lot more people interested in selling their homes, which would help ease the inventory crunch. More supply would put downward pressure on prices, as would rising mortgage rates."



arrow Be the first to share your opinion on this article!

Add your Comment


Images, Formatting, or HTML is not allowed : plain text only. You may post up to 5 website addresses within your comment.


The Valley News has tightened its' policy regarding comments.
While we invite you to contribute your opinions and thoughts, we request that you refrain from using vulgar or obscene words and post only comments that directly pertain to the specific topic of the story or article.
Comments that are derogatory in nature have a high likelihood for editing or non-approval if they carry the possibility of being libelous.
The comment system is not intended as a forum for individuals or groups to air personal grievances against other individuals or groups.
Please, no advertising or trolling.
In posting a comment for consideration, users understand that their posts may be edited as necessary to meet system parameters, or the post may not be approved at all. By submitting a comment, you agree to all the rules and guidelines described here.
Most comments are approved or disregarded within one business day.

RSS FeedFacebookTwitter

Advertisement for Crown Hill Pizza


Most Commented

Reach Local Customers

The Valley News The Valley News
760-723-7319 - 1588 S. Mission Rd. Suite 200, Fallbrook CA 92028
All contents copyright ©2015
About Us
Earthquake Information
Business Listings
Contact Us
Letter to the Editor
Report a website error
Online Digital Edition
RSS Feeds