The housing market in Downtown Riverside, California is a bit of a mixed bag. On the one hand, prices are on the rise. The median home price in the neighborhood was $543,000 in April 2023, up 5.5% from the previous year. On the other hand, inventory is low. There were only 24 homes for sale in Downtown Riverside in March, which is down from 33 homes in February.
Click here to view available homes for sale in the Downtown neighborhood.
This combination of rising prices and low inventory has made the housing market in Downtown Riverside competitive. Homes are typically selling for above asking price and in some cases with multiple offers. Buyers who are serious about buying in the neighborhood should be prepared to act quickly and make a strong offer.
Despite the challenges, there are still some great deals to be found in Downtown Riverside. The neighborhood is home to a variety of housing types, including condos, apartments, and single-family homes.
If you’re looking for a vibrant and affordable place to live in Southern California, Downtown Riverside is a great option. The neighborhood is home to a variety of businesses, restaurants, and cultural attractions. It’s also within easy reach of the Inland Empire’s many outdoor recreation opportunities and home to the famous festival of lights at the Mission Inn.
Here are some things to keep in mind if you’re thinking about buying a home in Downtown Riverside:
- Prices are on the rise, so be prepared to act quickly and make a strong offer.
- Inventory is low, so you may need to be flexible with your search criteria.
- The neighborhood is home to a variety of housing types, so you’re sure to find something to fit your needs and budget.
- Downtown Riverside is a great place to live if you’re looking for a vibrant and affordable community.
Thinking of buying or selling a home in the downtown area of Riverside? Call or text today at 951-316-5916
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Housing Market Trends for the Downtown Neighborhood:
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