Riverside County Home Prices and Sales on Rise

By City News Service, photo via shutterstock

The median price of a home in Riverside County rose by 8.3 percent in April, compared with the same month a year ago, while the number of homes sold jumped by 8.2 percent, a real estate information service announced today.

According to CoreLogic, the median price of a Riverside County home was $310,000 last month, up from $286,250 in April 2014. A total of 3,663 homes were sold in the county, up from 3,384 during the same month the previous year.

A total of 21,708 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month, according to CoreLogic. That was up 9.9 percent from 19,706 in March and up 8.5 percent from 20,008 in April 2014.

The median price for a Southern California home was $429,000 in April, up 0.9 percent from $425,000 in March and up 6.2 percent from $404,000 in April 2014.

“Sales activity picked up last month, making it one of the stronger Aprils since the housing bust, though sales remained below average,” said Andrew LePage, a data analyst for CoreLogic. “Many buyers still face credit and affordability hurdles, and the inventory of homes for sale remains relatively tight in many markets. New home construction is still well below historically normal levels, too.”