Moreno Valley was incorporated in 1984 and has set the US record for growth in the late 1980s, claiming the “nation’s fastest growing city” title. Most of Moreno Valley’s commercial and industrial buildings, housing, shopping centers, and offices were built after 1985. Also, the city is served by the Moreno Valley Freeway (Route 60) and Interstate 215. Moreno Valley offers 200 acres of parkland and two major golf courses. The golf courses are located at the Moreno Valley Ranch Golf Course, ranked among America’s finest. Furthermore, Lake Perris State Park (providing boating, fishing, and camping) and ephemeral Mystic Lake (famous for bird watching opportunities) are just minutes away.
This is a discussion on the sales prices of homes sold recently as compared to last year. In the past 90 days, there have been 1052 homes that have sold and closed escrow in Moreno Valley, CA. These homes range in prices from a low of $28,700 for 3 bedroom 1 bath, and 936 square foot home on Barbara St. With a high price of $1,930,000 for a 5 bedroom, 3 baths, and 2,535 square foot home on Championship Dr. The average sold price is $146,129 the average price per square foot is $80.00 and the average days on market are 65 days. Sales price compared to list price is 98%.
During this same 90 day period last year, there were 453 homes that sold and closed escrow in Moreno Valley, CA. These homes range in price from a low of $74,500 for a 2 bedroom, 1 bath, and 868 square foot home on Atwood Av. Up to the high price of $460,000 for a 5 bedroom, 3 baths, 3,336 square foot home on Mirage Ct. The average price of these sold homes one year ago was $237,223 and the average price per square foot was $124.27. Also, the average days on the market were 84 days. Sales price compared to list price is 102%.
Comparing these figures to the current market are the following; the average price decreased by 38% and the average price per square foot decreased by 35%. Comparison on the number of sales increased by 232%.
The prices have dramatically increased, compared to the rest of the market, high inventory and increase in foreclosures. The market is starting to show signs of a high buyer demand market increasing rapidly.
The above statistics is a broad sample of data, to get a specific value of a home or if you are thinking of buying in this area, please contact me.
If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO's) or thinking of selling your property, please visit our website at: County Properties San Diego or County Properties Riverside