Riverside County home prices, sales numbers on the rise

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The median price of a Riverside County home rose by 2.6% in August, compared to the same month a year ago, while sales jumped by 6.7%, according to figures released recently.

According to the CoreLogic real estate information service, the median price of a Riverside County home was $390,000 in August, up from $380,000 in August 2018. A total of 3,984 homes were sold in the county, compared to 3,735 in the same month a year ago.

A total of 22,025 new and resale houses and condos changed hands in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in August, according to CoreLogic. That was down 0.2% from 22,073 in July, and down 1.2% from 22,284 in August 2018.

The median price of a Southern California home was $535,000 in August, down 0.9% from $540,000 in July and unchanged from August 2018.

“The region’s median sale price has been close to flat on a year-over-year basis all year, dipping as much as 0.4% in March and rising as much as 1.9% in July,” Andrew LePage, research analyst with CoreLogic, said. “One of the reasons (August)’s median was unchanged from a year ago is because of a change in market mix, meaning a shift toward a higher share of sales occurring in some of the region’s more affordable areas.”