The Riverside real estate market is now up for a turn-around in 2010 as the prices of Riverside homes start an upward trend. The home prices in Riverside reached its median peak in January 2007 and dipped below $200,000 in 2009 at its lowest.
Based on the statistics from Trulia.com, a top real estate portal, the median sales price for homes in Riverside, CA from Dec 09 to Feb 10 was $195,000. It increased by 5.4% or about $10,000 in comparison to the prior quarter but still a 2% decrease when compared to last year. The Riverside real estate market was devastated with a huge drop of home sale prices, a depreciation in value of 44.3% over the last five years.
The average listing price for Riverside homes for sale on Trulia was $279,264 for the week ending Mar 10, which represents a decline of 0.3%, or $845, compared to the prior week and a decline of 6.1%, or $18,139, compared to the week ending Feb 17. Average price per square foot for Riverside CA was $130, a decrease of 1.5% compared to the same period last year. Popular neighborhoods in Riverside include Canyon Crest, La Sierra, Orangecrest, Magnolia Center, La Sierra South, and Arlington.
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