Is Moreno Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Moreno Valley has remained a Seller's Market.
Key Takeaway
Moreno Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Moreno Valley, CA
How much do homes in Moreno Valley, CA cost?
Median Sold Price
$535,203
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Moreno Valley have sold for 4% more than they did a year ago.
Summary: The median home sold price in Moreno Valley was $535,203 in May 2024, up 4% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | - | N/A |
| 2 Bedrooms | $408K | $432.5K | +6.0% |
| 3 Bedrooms | $495K | $510K | +3.0% |
| 4 Bedrooms | $545.4K | $572.6K | +5.0% |
| 5+ Bedrooms | $619K | $635K | +2.6% |
Summary: Moreno Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Riverside | $594.7K | $643.8K | +8.2% |
| Perris | $502.2K | $530.2K | +5.6% |
| Moreno Valley | $514.8K | $535.2K | +4.0% |
| Perris Valley | $536.7K | $554.7K | +3.4% |
| San Gorgonio Pass | $465K | $473.8K | +1.9% |
Housing Supply in Moreno Valley, CA
How many homes are available in Moreno Valley, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 367 | 372 | +1.4% |
Summary: The Moreno Valley real estate market had 372 homes for sale in May 2024, a 1.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 25 | 24 | -4.0% |
| 3 Bedrooms | 139 | 140 | +0.7% |
| 4 Bedrooms | 156 | 161 | +3.2% |
| 5+ Bedrooms | 47 | 47 | 0.0% |
Summary: The Moreno Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 104 | 91 | -12.5% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Moreno Valley, you could pay more than the asking price. 65.9% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in Moreno Valley in May 2024, down by 12.5% month-over-month. Of the 91 sold homes, 15% were sold under asking, 19% were sold at asking, and 66% were sold over asking.
Days on Market for Moreno Valley, CA
How long does it take to sell a home in Moreno Valley, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 26 Days | -32.4% |
Summary: Homes in Moreno Valley had an average of 26 days on market in May 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Moreno Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 91 homes were sold in Moreno Valley; 74% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.