Median Prices

December 4, 2007

In a very unsophisticated method, I went through the residential sales reported in the IMRMLS and found the median sales prices for homes in the various Riverside/San Bernardino municipalities. Median signifies that half of the homes sold for more and half sold for less. Often there was a fairly great difference between the sale prices of the homes on either side of the median price. However, in the interest of giving some picture of the local markets, I did use the sale at the middle of the units sold. I did this same procedure to arrive at the median for 2006 in order to look at the trends in price devaluation. So here are the numbers:

Banning/Beaumont.........2007/$240,000..........2006/$315,000

Bloominton.......................2007/$330,000..........2006/$375,000

Colton................................2007/$310,000..........2006/$310,000

Fontana.............................2007/$370,000..........2006/$415,000

Grand Terrace..................2007/$315,000...........2006/$370,000

Highland...........................2007/$340,000..........2006/$350,000

Loma Linda.......................2007/$375,000..........2006/$450,000

Moreno Valley...................2007/$300,000.........2006/$370,000

Redlands............................2007/$376,000.........2006/$390,000

Rialto.................................2007/$289,000.........2006/$375,000

Riverside...........................2007/$360,000.........2006/$425,000

San Bernardino................2007/$265,000.........2006/$320,000

Yucaipa/Calimesa...........2007/$350,000..........2006/$350,000



As you can note, Yucaipa, Colton, Highland and Redlands had the least amount of change. I always regard this data with scepticism because all real estate sales median or average data depends on the particular mix of homes sold that month.