Home Sales Continue UP
People often ask us how the world of real estate is doing in Riverside. Especially now that we’re closing in on another year, and are looking into next year with a new Presidential administration. We can honestly say that we have had a great 2016, and we are looking forward to more sales in 2017.
The most telling fact in this infographic is that nationwide we’re still experiencing low inventory. While this is driving sales, and has made October the 56th month that we have experienced year-over-year price gains, it has not been pushing prices up as high as one might think. According to the Inland Valleys Association of Realtors Housing Data Report for October 2016 the median sales price in Riverside is $345,000 which is an increase of 5.8% from the previous year. This shows that we are experiencing steady growth in our marketplace.
A nationwide fun fact is that currently 33% of home buyers in October 2016 were first-time home buyers. This shows that the American Dream of home ownership is continuing to be important into the next generation.
The Ransom-McKenzie Team looks forward to assisting our friends and clients with their real estate needs as we look forward to the coming new year. Give us a call if you have a questions about buying or selling a home in Riverside. We Love Riverside!