Moreno Valley Real Estate Market report: 1/18/2008

Sales Data

Between 12/27/2007 and 12/30/2007 there where 55 new Notices of Default for Moreno Valley homes.  In the same time period there were 13 new pending sales and 15 closed sales.  The average sold price per square foot was: $143 and the average list price of the pending sales is even lower at: $135 per square foot.

Since 1/1/2008 there have been 260 new listings in the Moreno Valley MLS – with an average list price per square foot of the single family homes at: $152 per square foot.  In January 2007 95 homes sold in Moreno Valley per MLS – with an average sales price per square foot of: $207.

Per Data Quick reports the median sales price per square foot for December 2007 (using all 4 zip codes) was: $157.
For December 2006 the median was at: $237 per square foot.
On Average home price in Moreno Valley went down 26.7% between December 2006 and December 2007.

New Stuff from DataQuick – December 2007

For Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura Counties: December marked the lowest number of total home sales over the 19 years of Data Quick reporting.

“The median price paid for a Southland home was $425,000 last month, the lowest since $420,000 in February 2005.”  And “15.8% below the $505,000 peak reached last spring and summer.”

For Riverside County – the rate of December 2007 sales against December 2006 was down 44.9% and median home prices dropped from $432,000 to $355,000 (-17.8%).

Following chart is the median sales prices for each December from 1990 to 2007 – for the 4 Moreno Valley zip codes

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Next chart is the number of total home sales for December since 2000.

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