Area 15-Mira Loma-Pats Ranch Road-S of Limonite-Jurupa Valley Residential Real Estate Market Update-October 2023
Jurupa Valley 91752
Residential Real Estate Market Update
October 2023
Area of Focus:
15 – Mira Loma – Pats Ranch Rd – S of Limonite (See Map)
This report provides an analysis of the residential real estate market as of the end of October 2023 for the area in the City of Jurupa Valley located south of Limonite Ave, east of Pats Ranch Rd, and west of Wineville Rd.
End of Month Active Listings
Current Status: There were 4 active listings at the end of October.
Yearly Comparison: This is a 33.3% increase from last year, suggesting a moderate rise in the number of properties available for sale.
New Listings
Current Status: The area had 2 new listings in October.
Yearly Comparison: There is no available comparative data from last year.
Months Supply Inventory
Current Status: The inventory stood at 2.4 months.
Yearly Comparison: This shows a 60.0% increase from last year, indicating a more balanced market with a higher availability of homes relative to demand.
Closed Sales
Current Status: There were no closed sales in October.
Yearly Comparison: The lack of sales activity in the current month limits the ability to compare it with the previous year.
Average Days on Market
Current Status: There is no available data for this metric for October.
List to Sold Price Percentage
Current Status: No data is available.
Average Sales Price
Current Status: No data available for October.
Average Price per Square Foot
Current Status: There is no available data for this metric.
Additional Information
From January 1 to October 31, 2023, a total of 8 homes were sold. The average sales price for these homes was $787,375.
Interpretation and Market Implications
The real estate market in the specified area of Jurupa Valley for October 2023 shows a noticeable increase in active listings and months’ supply inventory compared to last year. This trend suggests a shift towards a more buyer-friendly market with more choices available.
However, the absence of closed sales in October and the lack of data on average days on market, list to sold price percentage, and average sales price make it challenging to draw definitive conclusions about the current market dynamics.
The sales data from the start of the year to the end of September indicate that the properties that did sell were of relatively high value, as evidenced by the average sales price of $787,375. This could suggest a market with premium properties or a specific demand for certain types of homes in this area.
Conclusion
In conclusion, as of October 2023, the residential area south of Limonite Ave, east of Pats Ranch Rd, and west of Wineville Rd in the City of Jurupa Valley is experiencing an increase in inventory with a more balanced market dynamic.
However, the lack of sales in October and the absence of several key market metrics necessitate a cautious approach in interpreting these trends. The high average sales price from earlier in the year suggests a market that can attract high-value transactions, but the recent lack of activity indicates a need for continued observation to understand emerging trends and shifts in the market.
For a comprehensive understanding of how these trends can impact your real estate decisions, contact me. I provide expert guidance and strategic insights and can guide you through these interesting times in real estate.
And for a detailed and personalized analysis of your home, or if you have any questions, feel free to contact me. I am committed to providing accurate and updated information to assist you in all your real estate needs.
Manny Barba
Broker-Attorney-Realtor®
951-990-3998
MB Live Realty, Inc.
Note: All data in this report is from 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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