October Sales Report

November 12, 2007


The following data was obtained from the IMRMLS report of single family residential property closed sales for October.





Bannng/Beaumont........2007/41..........2006/74...........down 45%


Colton.............................2007/11...........2006/40..........down 72%


Fontana..........................2007/58..........2006/172.........down 66%


Grand Terrace...............2007/5............2006/8.............down 37%


Highland........................2007/20.........2006/58...........down 66%


Loma Linda...................2007/3............2006/23...........down 87%


Moreno Valley...............2007/69..........2006/187.........down 63%


Redlands........................2007/31...........2006/54..........down 43%


Rialto.............................2007/42..........2006/75...........down 44%


Riverside.......................2007/108.........2006/291.........down 63%





A quick glance shows that the number of units being sold has dropped dramatically. What is evident in a review of listing and selling prices is that properties priced to reflect a slow market do sell and if priced under current market sales will generate multiple offers and will sell above list price. Conclusion:


Sellers who are serious about selling in this market need to be priced VERY competitively.