Median Sales Price in Riverside
This is the measure used to trend home values in Riverside, and compare prices among different communities. It’s similar to an average, but using the median lessens the effect of outliers (i.e. extremely high or low closing prices not representative of the overall market).
Average Market Time in Riverside
Used to gauge the demand for homes and how competitive a market is, which can also indirectly indicate the supply v demand balance. In Riverside, lower market times typically mean a very competitive market. Many markets are seeing sub-90 day market times, and the most competitive and in-demand areas are under 45 days.
Number of Homes for Sale in Riverside
Best used for trending purposes, as the overall number is relative to the size of the area or community of Riverside. Significant spikes or declines in the number of homes available will be indicative of a market’s desirability, pricing equilibrium, and outside factors like ease of lending.
Average % of Original List Price in Riverside
This shows the spread between original list price and price the home closed for in Riverside. There’s a direct correlation with this and market time. Areas with the lowest market times will see a higher list v. ask % (97%+); longer market times will see these numbers under 95%. This should be taken into deep consideration when listing your home. To sell it fast, price it to get 99% of the list price.