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Riverside Roars: April 2024 Housing Market Update

Windermere Tower Properties provides insights into last month’s housing market.

17421 La Serena Ct., Riverside, CA 92504 sold at $1,275,000. Listed and sold by Kelly Alfaro from Windermere Tower Properties

“April was the most competitive market I’ve seen since 2021,” says real estate broker associate Sarah Ayala. “Buyers are overbidding, contingencies are being waived, and it’s surprising given interest rates continue to rise. Riverside remains a unique and competitive market. Home values continue to rise, but compared to the surrounding markets of Orange, Los Angeles and San Diego counties, we offer great value and opportunity. Overall, real estate remains to be a great investment, and there are no signs that the rising prices and limited inventory is going to let up anytime soon.”

Riverside Housing Stats, April 2024

  • Closed Transactions: 192
  • Average Sold Price: $708,795
  • Days on Market Avg: 26
  • New Listings: 120

Riverside’s housing market in April 2024 continued its fiery pace, with 192 transactions closing at an average price of $708,795. Homes spent an average of just 26 days on the market, showcasing the area’s high demand and swift sales. Inventory continues to be a challenge and fails to keep up with buyer demand. April welcomed just 120 new listings, indicating a continued seller’s market. In the midst of this bustling market, Windermere Tower Properties stands strong with 48 active listings and new inventory coming to market every day. Our knowledgeable and experienced agents are prepared to navigate this dynamic market and assist buyers and sellers with all their real estate needs and goals.

As we head into summer, the Riverside housing market shows no signs of cooling down, promising an exciting and competitive season for buyers and sellers alike.

Looking to learn more? Check out Windermere Tower Properties’ listing offerings in all price ranges. For questions regarding these properties and all your real estate needs, visit our website at windermeretower.com so we can connect you to one of our real estate professionals.

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