Moreno Valley End of Year 2007 Home Sales Data

First chart is the number of homes listed for sale: 12/30/2007
By list price, also showing the number of those homes that are Vacant

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There are a total of 2247 single family homes for sale
1093 are vacant – which is 48.6% (almost half)

68 of the total number of listings per MLS are owner occupied with a Notice of Default filed – add that to the number of vacant homes (1093) equals 1161 homes that need to sell.

121 homes sold since: 11/1/2007 (= 2 per day) at that rate it would take 590.5 days or over 19 months to sell the 1161 homes that need to sell (or over 3 years to sell all the homes now listed for sale).  Last year in the same time period 295 homes sold (= almost 5 sales per day compared to the current rate of 2 sales per day).

The average sales price since 11/1/2007 is $289,458 or $159 per Sq’
Last year in the same time period was $389,446 or $218 per Sq’ – an average drop of almost $100,000 exactly and $59 per square foot.  Which is a 1-year decline in values of about 26%.

Moreno Valley DataQuick numbers for November 2007 – indicate home prices in Moreno Valley went down 21% in 1-year with a current average price per square foot at: $168.

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