What's the difference? Median prices 2006-2007

March 8, 2007

I thought it might be interesting to compare the median price of homes in our market area for the month of February 2007 versus 2006. Yrsterday I posted the number of units reported sold through the IMRMLS. Today, I went through and calcualted the median prices. Remember that "medians" are half of the homes sold for more and half sold for less. You can check March 7, 2007 blog for the unit numbers.

Beaumont/Banning - 2006/$310,000............................2007/$320,000
Fontana.................... - 2006/$405,000............................2007/$440,000
Highland................... - 2006/$380,000............................2007/$372,000
Loma Linda.............. - 2006/$300,000............................2007/$439,000
Moreno Valley......... - 2006/$375,000.............................2007/$359,000
San Bernardino........ - 2006/$299,900.............................2007/$299,000
Redlands................... - 2006/$366,000.............................2007/$397,000
Riverside.................. - 2006/$400,000.............................2007/$420,000
Yucaipa..................... - 2006/$377,000..............................2007/$335,000

This is just a quick survey which may encompass some inaccurate dataa. It is based completely on sales reported though the IMRMLS and I did it just out of curiosity. There is so much press concerning the real estate "bubble" and trends that I thought it would be fun to check our local data. Some median prices were up and some were down and one(San Bernardino) remained the same.

Any comments as to what conclusions you could draw?