92509 Residential Real Estate Market Update – Jurupa Valley – July 2024

92509 Residential Real Estate Market Update – Jurupa Valley – July 2024

History of the 92509

The 92509 ZIP code area, primarily associated with City of Jurupa Valley in Riverside County, California, has a rich history that intertwines with the broader development of Southern California.

Initially, the area was inhabited by the Gabrielino and Serrano Tribes. Later, in 1838, the Mexican government granted Rancho Jurupa to Juan Bandini, a prominent Californio entrepreneur, marking the beginning of non-Native settlement. The name “Jurupa” was used as early as 1887 and is derived from a previous rancho operated by the Mission San Gabriel Arcángel, which was disbanded in 1833. The exact meaning of “Jurupa” is debated, with some suggesting it means “watering place” or refers to a local plant, the Artemisia californica.

Efforts to incorporate the city began in 1992, with voters initially rejecting the proposal. However, on March 8, 2011, a successful vote led to the incorporation of Jurupa Valley, effective July 1, 2011. This new city included several communities like Mira Loma, Glen Avon, and Rubidoux. Jurupa Valley faced financial challenges early on, nearly leading to disincorporation, but these were eventually resolved with state legislative action.

As for demographics, the 2010 U.S. Census reported that Glen Avon, a part of the 92509 area, had a diverse population with a significant Hispanic/ Latino presence. The area has evolved over time, reflecting broader demographic and economic trends in Southern California.

Jurupa Valley’s governance includes a city council and a mayor, with representation at the state and federal levels aligning with California’s legislative districts. The area is served by the Jurupa Unified School District, providing educational services through various schools.

The history of the 92509 ZIP code area is a microcosm of the broader historical, cultural, and political developments of Southern California, marked by its early Native American presence, ranching origins, and evolving community identity in the modern era​​​​.

The data that follows is not intended to be a comparative market analysis for any one particular home, but instead gives a general valuation for homes in each of the 12 specified areas, and in whole the entire residential areas located in the 92509-zip code.

For a detailed and personalized market analysis of your home, or if you have any questions, feel free to contact me.

 

Manny Barba,

Broker-Attorney-Realtor®

DRE #00879806

951-990-3998

mail@mbliverealty.com

MB Live Realty, Inc.

www.mbliverealty.com

 

AREA 1:

Sunnyslope,

Jurupa Valley, CA 92509

 

End of Month Active Listings: 6,     -14.3% change from year ago,

New Listings: 3,  -40.0% change from year ago,

Months Supply Inventory:  1.7,  +13.3% change from year ago,

Closed Sales: 2 ,  -33.3% change from a year ago,

Average Days on Market: 19 , +5.6% change from a year ago.

List to Sold Price %:  99.6%,  -1.1% change from a year ago.

Highest Closed price:  $905,000.

Average Sales Price:  $885,000, +46.3% change from a year ago.

Average Price Square Foot: $451, +24.9% change from a year ago.

 

The Sunnyslope residential real estate market for July 2024 saw notable shifts compared to the previous year. The number of active listings at the end of the month was 6, reflecting a 14.3% decline from the same period last year. New listings also saw a sharp decrease, with only 3 homes coming to market, marking a 40% drop year-over-year.

The months’ supply of inventory rose slightly to 1.7, an increase of 13.3%, suggesting a modest buildup in available homes relative to demand. However, closed sales struggled, with just 2 transactions completed during July, a 33.3% decrease compared to the same time last year. This slowdown in sales, along with the slight increase in days on market (now averaging 19 days, up 5.6% year-over-year), indicates a potential cooling in buyer activity.

Despite these shifts, sellers in Sunnyslope have maintained strong leverage, achieving a list-to-sold price ratio of 99.6%, a minor 1.1% decrease from last year. The high demand is reflected in pricing trends. The highest closed price in July reached $905,000, while the average sales price rose dramatically by 46.3% to $885,000. The average price per square foot increased as well, now at $451, a jump of 24.9% compared to last year.

In summary, the Sunnyslope market remains resilient, with strong pricing and limited supply, though the decrease in new listings and closed sales indicates a potential softening in transaction volume.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

 

Area 2:

North Rubidoux-Belltown

Jurupa Valley, CA 92509

 

End of Month Active Listings: 3,     -40.0% change from year ago,

New Listings: 1,  -75.0% change from year ago,

Months Supply Inventory:  2.4,  -27.3% change from year ago,

Closed Sales: 0 ,   0.0% change from a year ago,

Average Days on Market: 41, +310.0% change from a year ago, using a rolling 3-month average calculation.

List to Sold Price %:  94.5%,  -7.5% change from a year ago, using a rolling 3-month average calculation.

Highest Closed price:  No Closed Sales

Average Sales Price:  $582,300, +22.6% change from a year ago, using a rolling 3-month average calculation.

Average Price Square Foot: $450, +16.6% change from a year ago, using a rolling 3-month average calculation.

 

The real estate market for the north Rubidoux-Bell Town residential area in July 2024 displayed mixed signals, with some key shifts compared to the previous year. The number of active listings dropped significantly to just 3, a 40% decrease year-over-year. New listings also plummeted, with only 1 new property coming to market, reflecting a sharp 75% decline compared to July 2023.

The months’ supply of inventory followed a similar trend, now standing at 2.4 months, which represents a 27.3% decrease. This contraction in supply could indicate a tighter market, but demand seems to have softened, as there were no closed sales during the month—consistent with last year.

The average days on market saw a significant increase, surging by 310% to 41 days, based on a rolling 3-month average calculation. This suggests that properties are taking much longer to sell, signaling potential buyer hesitation or reduced activity in the area. The list-to-sold price ratio also saw a decline, now at 94.5%, down 7.5% from a year ago, pointing to slightly more negotiation room for buyers.

Despite the absence of closed sales in July, the rolling 3-month average data provides some insight into pricing trends. The average sales price rose by 22.6%, now at $582,300, and the average price per square foot increased by 16.6%, reaching $450. These figures indicate that while the volume of transactions may be low, the value of properties in the area remains strong.

Overall, the Rubidoux-Bell Town market appears to be experiencing a slowdown in activity, with fewer listings and longer days on market. However, pricing remains robust, suggesting that demand for quality homes is still present, albeit at a slower pace.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 3:

Rubidoux,

Jurupa Valley, CA 92509

 

End of Month Active Listings: 17, +41.7% change from year ago,

 New Listings: 12,  +20.0% change from year ago,

 Months Supply Inventory:  3.3,  +83.3% change from year ago,

 Closed Sales: 7 ,  +16.7% change from a year ago,

 Average Days on Market: 9 , +12.5% change from a year ago.

 List to Sold Price %:  98.9%,  +4.1% change from a year ago.

 Highest Closed price:  $750,000.

 Average Sales Price:  $628,571, +31.4% change from a year ago.

 Average Price Square Foot: $340, -32.5% change from a year ago.

 

The Rubidoux residential area showed considerable activity and positive growth for the month ending July 2024. The number of active listings increased to 17, a significant rise of 41.7% compared to the previous year. New listings also saw healthy growth, with 12 homes coming to market, up 20% from the same period in 2023.

The months’ supply of inventory has jumped to 3.3 months, an 83.3% increase, which indicates that more homes are available for buyers, reflecting a more balanced market. Closed sales in the area also saw improvement, with 7 transactions finalized, marking a 16.7% increase year-over-year.

Despite the increase in inventory, homes are still selling quickly. The average days on market rose slightly to 9 days, just a 12.5% increase, suggesting continued buyer interest. Sellers continue to receive strong offers, with the list-to-sold price ratio reaching 98.9%, a 4.1% increase from last year, indicating competitive bidding and minimal price concessions.

On the pricing front, the highest closed sale in July was $750,000. The average sales price surged by 31.4%, now standing at $628,571. However, the average price per square foot saw a notable decrease, down 32.5% to $340, which could suggest that larger homes or homes with less expensive finishes are selling at higher volumes.

In summary, the Rubidoux residential market remains active with increasing inventory, steady demand, and competitive pricing. The rise in both sales and new listings suggests a dynamic market with opportunities for both buyers and sellers.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 4:

Jurupa Hills,

Jurupa Valley 92509

 

End of Month Active Listings: 2,     -33.3% change from year ago,

New Listings: 2,  -50.0% change from year ago,

Months Supply Inventory:  1.0,  -28.6% change from year ago,

Closed Sales: 2 ,  -33.3% change from a year ago,

Average Days on Market: 24 , +380.0% change from a year ago.

List to Sold Price %:  100.5%,  -0.8% change from a year ago.

Highest Closed price:  $613,000.

Average Sales Price:  $592,000, -2.1% change from a year ago.

Average Price Square Foot: $398, +15.7% change from a year ago.

 

The real estate market in the Jurupa Hills residential area for July 2024 has seen some notable shifts. Active listings at the end of the month dropped to just 2, a decrease of 33.3% compared to last year, and new listings also followed suit, declining by 50% year-over-year with only 2 homes entering the market.

The months’ supply of inventory is now at 1.0, a 28.6% reduction from last year, indicating a tight market with limited options for buyers. Closed sales also decreased, with only 2 transactions finalized, marking a 33.3% drop compared to July 2023.

Properties in the area are staying on the market longer than before, with the average days on market increasing significantly to 24 days, a 380% spike compared to last year. Despite this extended selling period, sellers have retained strong control over final sale prices, with the list-to-sold price ratio at 100.5%, a minor 0.8% dip year-over-year, meaning most sellers are still achieving their asking prices or slightly above.

In terms of pricing, the highest closed sale in July was $613,000. The average sales price saw a slight decline, now at $592,000, a 2.1% decrease from last year. However, the average price per square foot increased by 15.7% to $398, highlighting that while the total sales price may have dipped, the value of homes per square foot continues to rise.

Overall, the Jurupa Hills market remains competitive despite reduced inventory and longer selling times, with pricing trends showing resilience in the face of slower transaction volumes.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 5:

Indian Hills

Jurupa Valley, CA 92509

 

End of Month Active Listings: 13,     +30.0% change from year ago,

New Listings: 6,  0.0% change from year ago,

Months Supply Inventory:  3.9,  +69.6% change from year ago,

Closed Sales: 2,  0.0% change from a year ago,

Average Days on Market: 51 , +537.5% change from a year ago.

List to Sold Price %:  92.3%,  -9.3% change from a year ago.

Highest Closed price:  765,000.

Average Sales Price:  $725,000, +16.0% change from a year ago.

Average Price Square Foot: $389, +11.1% change from a year ago.

 

The real estate market in the Indian Hills residential area saw a mixture of activity and changes in July 2024. The number of active listings increased by 30%, reaching 13 properties at the end of the month. Meanwhile, the number of new listings held steady at 6, showing no change from the same period last year.

The months’ supply of inventory rose significantly to 3.9 months, a 69.6% increase from a year ago, suggesting a shift towards a more balanced market where buyers have more choices. Closed sales remained static with only 2 transactions, the same as last year.

One of the more notable changes in the market is the dramatic increase in the average days on market, now sitting at 51 days, a 537.5% jump compared to July 2023. This indicates that homes are taking much longer to sell, which may point to cooling buyer demand or sellers holding firm on pricing. Speaking of pricing, the list-to-sold price ratio dropped to 92.3%, down 9.3% year-over-year, implying that buyers are negotiating more discounts compared to last year.

In terms of home values, the highest closed sale was recorded at $765,000. The average sales price saw a healthy increase of 16%, bringing it to $725,000. Similarly, the average price per square foot rose by 11.1%, now standing at $389, highlighting ongoing growth in property values despite the longer time on market and increased inventory.

Overall, the Indian Hills market is experiencing a transitional period, with rising inventory and extended selling times, but steady price appreciation continues to reflect strong underlying demand for homes in the area.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 6:

Pedley – East

Jurupa Valley, CA 92509

 

End of Month Active Listings: 10,  +400.0% change from year ago,

New Listings: 6,  +500.0% change from year ago,

Months Supply Inventory:  3.3,  +371.4% change from year ago,

Closed Sales: 2 ,  -50.0% change from a year ago,

Average Days on Market: 34 , +30.8% change from a year ago.

List to Sold Price %:  97.6%,  +3.0% change from a year ago.

Highest Closed price:  648,888.

Average Sales Price:  $619,444, -10.5% change from a year ago.

Average Price Square Foot: $365, +6.7% change from a year ago.

 

The residential real estate market in the eastern Pedley area saw significant shifts in July 2024 compared to the previous year. The number of active listings has dramatically increased to 10, a 400% rise, and new listings followed a similar trend, surging by 500% with 6 homes entering the market. This increase in available inventory is reflected in the months’ supply, which has risen to 3.3 months, a 371.4% jump from last year, indicating a market with more options for buyers.

Despite the growing inventory, closed sales declined by 50%, with only 2 homes sold during the month. Homes are also spending more time on the market, with the average days on market climbing to 34 days, a 30.8% increase from the same period last year.

Sellers in the eastern Pedley area continue to achieve strong prices, with the list-to-sold price ratio reaching 97.6%, an improvement of 3% compared to last year. The highest closed price during July was $648,888, showcasing the upper end of the market.

However, the average sales price dropped by 10.5% year-over-year, now standing at $619,444. In contrast, the average price per square foot rose by 6.7%, reaching $365, suggesting that while overall home prices have softened slightly, the value per square foot remains strong, indicating that buyers may be focusing on smaller or more efficient homes.

In summary, the eastern Pedley market is experiencing an influx of listings and longer selling times, but sellers are still able to command competitive prices. The balance between inventory growth and buyer demand will be key in shaping the market’s trajectory moving forward.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 7:

Pedley – West

Jurupa Valley 92509

 

 

End of Month Active Listings: 3,     -78.6% change from year ago,

New Listings: 1,  -85.7% change from year ago,

Months Supply Inventory:  0.9,  -75.7% change from year ago,

Closed Sales: 0 ,  -100.0% change from a year ago,

Average Days on Market: 42 , +35.5% change from a year ago, using a rolling 3-month average calculation.

List to Sold Price %:  101.4%,  +0.9% change from a year ago, using a rolling 3-month average calculation.

Highest Closed price:  No Closed Sales.

Average Sales Price:  $708,550, -2.6% change from a year ago, using a rolling 3-month average calculation.

Average Price Square Foot: $383, +10.4% change from a year ago, using a rolling 3-month average calculation.

 

The real estate market for the western Pedley residential area in July 2024 showed some substantial declines in activity. The number of active listings dropped sharply to just 3, a 78.6% decrease from the same period last year. New listings also followed this downward trend, with only 1 property entering the market, an 85.7% decline year-over-year. The months’ supply of inventory now sits at 0.9, down 75.7%, highlighting an extremely tight market with very limited available homes.

There were no closed sales during July, marking a 100% drop compared to the previous year. Additionally, homes are taking longer to sell, with the average days on market rising to 42 days, an increase of 35.5% based on a rolling 3-month average.

Despite the lack of transactions, the list-to-sold price ratio remains strong at 101.4%, a 0.9% increase from last year, indicating that when properties do sell, they are going for above asking price.

Although no homes closed during July, the average sales price, using a rolling 3-month average, stands at $708,550, reflecting a modest 2.6% decline year-over-year. Meanwhile, the average price per square foot increased by 10.4%, now reaching $383, suggesting that even though overall prices have softened, buyers are paying more on a per-square-foot basis, perhaps indicating higher demand for smaller or more efficiently priced properties.

In conclusion, the western Pedley market is facing a shortage of available listings and extended selling times. However, sellers are still achieving competitive prices when properties do come to market, maintaining a strong position despite the lack of activity.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 8:

Mira Loma-East

Jurupa Valley 92509

 

End of Month Active Listings: 2,     0.0% change from year ago,

New Listings: 1,  no change from year ago data,

Months Supply Inventory:  .8,  -20.% change from year ago,

Closed Sales: 1 ,  0.0% change from a year ago,

Average Days on Market: 23 , -23.3% change from a year ago, using a rolling 3-month average calculation.

List to Sold Price %:  102.0%,  +2.1% change from a year ago, using a rolling 3-month average calculation.

Highest Closed price:  $1,125,000    (2640 sf, 1.36 acres)

Average Sales Price:  $792,500, +9.3% change from a year ago, using a rolling 3-month average calculation.

Average Price Square Foot: $465, +21.4% change from a year ago, using a rolling 3-month average calculation.

 

The real estate market in the eastern Mira Loma residential area for July 2024 showed stable activity compared to the previous year, with some encouraging pricing trends. Active listings remained consistent at 2, with no change from the previous year, and only 1 new listing came to market, reflecting no growth in new inventory year-over-year.

The months’ supply of inventory slightly declined to 0.8, a 20% decrease from last year, suggesting continued strong demand in a limited supply market. Closed sales held steady, with just 1 sale, the same as last year.

Homes are selling faster in this market, as the average days on market dropped by 23.3% to 23 days, based on a rolling 3-month average, indicating that buyers are acting more quickly on available properties. Sellers continue to benefit from favorable conditions, achieving a list-to-sold price ratio of 102%, a 2.1% improvement from last year, showing that homes are selling above asking price.

The highest closed price in July was $1,125,000 for a 2,640 square foot home on 1.36 acres, reflecting the strength of the high-end market in this area. The average sales price rose by 9.3%, now standing at $792,500. Additionally, the average price per square foot saw a strong increase of 21.4%, reaching $465, indicating that buyers are willing to pay more for each square foot, further emphasizing the demand for limited properties in this market.

Overall, the eastern Mira Loma market remains competitive, with rising prices and quick sales despite limited inventory. Sellers continue to maintain leverage, as demand for homes keeps pushing values upward.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

 

Area 9:

Jurupa – Stone

Jurupa Valley 92509

 

End of Month Active Listings: 2,     0.0% change from year ago,

New Listings: 2,  0.0% change from year ago,

Months Supply Inventory:  1.2,  +33.3% change from year ago,

Closed Sales: 2 ,  -60.0% change from a year ago,

Average Days on Market: 36, -23.4% change from a year ago.

List to Sold Price %:  97.7%,  -1.5% change from a year ago.

Highest Closed price:  $751,000.

Average Sales Price:  $694,500, -2.8% change from a year ago.

Average Price Square Foot: $389,  -6.7% change from a year ago.

 

The Jurupa-Stone residential real estate market for July 2024 remained relatively steady in terms of inventory, with 2 active listings at the end of the month, showing no change from the previous year. New listings also held steady at 2, reflecting no growth or decline compared to last year. The months’ supply of inventory increased slightly to 1.2, a 33.3% rise, indicating a slightly more favorable market for buyers compared to last year.

Closed sales, however, saw a sharp decline, dropping by 60% with only 2 transactions finalized during the month. Despite this, homes are selling faster, as the average days on market decreased by 23.4%, now down to 36 days, suggesting buyer interest is still present, but limited by the number of available properties.

The list-to-sold price ratio remains robust at 97.7%, a minor decline of 1.5% from last year, indicating that sellers are still receiving offers close to their asking prices. The highest closed sale in July was $751,000, signaling the continued demand for high-end properties.

However, the average sales price dropped slightly by 2.8%, now standing at $694,500, while the average price per square foot also decreased by 6.7%, to $389. This could reflect a shift in the types of homes being sold or adjustments in buyer budgets.

Overall, the Jurupa-Stone market is showing signs of slowing sales volume, but with homes still moving quickly and sellers achieving near-asking prices, it remains a competitive market. Pricing has softened slightly, but buyer demand appears to be holding strong.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 10:

Glen Avon – South

Jurupa Valley 91752

 

End of Month Active Listings: 2,     -71.4% change from year ago,

New Listings: 4,  -33.3% change from year ago,

Months Supply Inventory:  .7,  -53.3% change from year ago,

Closed Sales: 2 ,  -66.7% change from a year ago,

Average Days on Market: 33 , +10.0% change from a year ago.

List to Sold Price %:  103.6%,  +3.1% change from a year ago.

Highest Closed price:  $705,000.

Average Sales Price:  $617,500,  -13.7% change from a year ago.

Average Price Square Foot: $498, +43.5% change from a year ago

 

The southern Glen Avon residential area saw considerable shifts in the real estate market for July 2024 compared to the previous year. The number of active listings dropped dramatically to just 2, a 71.4% decrease from the previous year. New listings also declined, with only 4 properties coming to market, reflecting a 33.3% drop year-over-year.

The months’ supply of inventory now sits at 0.7, marking a significant 53.3% reduction from last year, indicating a tighter market with fewer homes available for buyers. Closed sales also saw a substantial decline, with only 2 transactions completed, a 66.7% drop from July 2023.

Homes are selling slightly faster, as the average days on market increased modestly by 10% to 33 days. Despite the decrease in overall activity, sellers continue to benefit from strong demand, with the list-to-sold price ratio rising to 103.6%, a 3.1% improvement from last year, signaling that homes are selling above asking price.

The highest closed sale in July reached $705,000. However, the average sales price dropped by 13.7%, now standing at $617,500. On the other hand, the average price per square foot saw a significant increase of 43.5%, reaching $498. This suggests that while overall sale prices have softened, the value of each square foot of property has surged, likely indicating strong demand for smaller, more efficiently priced homes.

In summary, the southern Glen Avon market has experienced a sharp decline in inventory and closed sales, but sellers are still benefiting from higher price per square foot and strong buyer demand, resulting in competitive sales above asking price.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 11:

California Horizon,

Jurupa Valley 91752

 

End of Month Active Listings:  0,     -100.0% change from year ago,

New Listings: 0,  -100.0% change from year ago,

Months Supply Inventory: no inventory

Closed Sales: no closed sales

Average Days on Market: no data due to no closed sales

List to Sold Price %:  103.2% , calculated using a 6-month rolling average,.

Highest Closed price:  No Closed Sales

Average Sales Price:  $645,000,  calculated using a 6-month rolling average,.

Average Price Square Foot: $421,  calculated using a 6-month rolling average,.

 

The real estate market in the California Horizon residential area for July 2024 experienced no activity, with both active listings and new listings at zero—a complete 100% decline from the same time last year. There was no available inventory, resulting in no closed sales and no data on average days on the market for the month.

However, when looking at pricing trends based on a 6-month rolling average, sellers have been achieving solid returns. The list-to-sold price ratio stands at 103.2%, meaning that properties have sold above their asking price when they have been available. Although there were no closed sales for July, the average sales price over the past 6 months was calculated at $645,000. The average price per square foot also remained strong at $421, reflecting ongoing demand and value within the area.

Despite the lack of recent market activity, the rolling data indicates that California Horizon remains a competitive market when properties do become available, with pricing staying robust and buyers willing to pay above the listed prices.

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

 

Area 12:

Glen Avon – North

Jurupa Valley 92509

 

End of Month Active Listings:  2,  0.0% change from a year ago.

New Listings: 1 , -50.0%  change from a year ago.

Months Supply Inventory: 1.3, -18.8% change from a year ago.

Closed Sales: 0,  -100.0% change from a year ago.

Average Days on Market: no data due to no closed sales.

List to Sold Price %:  no data due to no closed sales.

Average Sales Price: $598,500, calculated using a rolling 3-month average,  +1.9% change from a year ago.

Average Price Square Foot: $533, calculated using a rolling 3-month average,  +52.3% change from a year ago.

 

As of the end of May 2024, the residential real estate market in Glen Avon has demonstrated both stability and notable shifts in various metrics. Below is a comprehensive analysis of the current market conditions based on the latest data.

 

The number of active listings in Glen Avon at the end of May was 2, with no change from the same period last year. This indicates a stable inventory level, suggesting consistent availability of homes for prospective buyers. However, the market saw only 1 new listing during May, marking a 50.0% decrease from a year ago. This decline in new listings highlights a reduced inflow of fresh inventory, which may contribute to a tighter market.

 

The months supply of inventory has decreased to 1.3 months, reflecting an 18.8% drop from last year. This metric suggests a seller’s market, where the limited supply relative to demand is likely driving up competition among buyers.

 

There were no closed sales in May, representing a 100.0% decrease from last year. The absence of closed transactions means there is no available data for average days on market or the list-to-sold price percentage for this period. The lack of closed sales could indicate various factors, including potential seasonal variations or other market dynamics.

 

The average sales price in Glen Avon, calculated using a rolling 3-month average, was $598,500. This figure represents a modest 1.9% increase from last year, indicating stable property values. Conversely, the average price per square foot increased significantly to $533, marking a 52.3% rise from a year ago. This substantial increase suggests that buyers are valuing property space more highly, possibly due to enhanced property features or increased demand for quality living spaces.

 

In summary, the Glen Avon residential real estate market as of May 2024 is characterized by stable active listings, a significant decrease in new listings, and no closed sales for the month. The market remains competitive, with substantial increases in price per square foot reflecting ongoing demand and value for properties in the area. Buyers and sellers in Glen Avon should be prepared for a stable but competitive environment and are advised to work closely with experienced real estate professionals to navigate these market conditions effectively.

 

Note: The above data is not intended to be a comparative market analysis for any one particular home.  The above data provides an average valuation for homes sold in this area for the specified period.

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As a real estate broker, understanding the nuanced market shifts in the above residential area market update reports is key to providing informed advice and strategy to sellers throughout the 92509 – zip code area.

If you would like to discover what your home’s sales value is in today’s competitive market, contact me at (951) 990-3998.  I provide expert guidance and strategic insights and can help you through these interesting times in real estate.

 

 

Manny Barba

Broker-Attorney-Realtor®

951-990-3998

mail@mbliverealty.com

 

 

MB Live Realty, Inc.

www.mbliverealty.com

Note: All data in this report is from the California Regional Multiple Listing Service (CRMLS). All information should be independently reviewed and verified for accuracy. This report is for informational purposes only and not intended as financial or investment advice.

 

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