May Median Prices as Reported in the MRMLS

June 10, 2009

I was interested to read a headline in the LA Times newspaper this morning that prices in some areas of California are back to 1989 levels. Since I had just prepared the data for May 2009, I found that in the 14 communities that I have been tracking are not quite back to the 2002 levels. Bloomington, Colton, Moreno Valley, Rialto, Riverside and San Bernardino do have median prices below the 2002 median price for May. This data is only for one month and my research is not scientific. I take the selling price of the property at the halfway mark between the high and low reported selling prices.

Here are the numbers for May 2009, for the peak year of either 2006 or 2007 and for 2002. Add 3 zeros to the number; i.e. $200=$200,000.

Banning.Beaumont.....2009/$175......2006/$335......2002/$120

Bloomington................2009/$95........2007/$387.......2002/$139

Colton...........................2009/$100.....2007/$340.......2002/$123

Fontana........................2009/$175......2007/$420.......2002/$165

Grand Terrace............2009/$200.....2006/$392.......2002/$186

Highland......................2009/$160......2007/$380.......2002/$160

Loma Linda.................2009/$224......2007/$415.......2002/$152/$230

Mentone......................2009/$249......2006/$265.......2002/$75

Moreno Valley............2009/$130......2006/$382.......2002/$145

Redlands.....................2009/$245.......2007/$470.......2002/$187

Rialto...........................2009/$130.......2006/$380......2002/$146

Riverside....................2009/$170........2006/$415.......2002/$175

San Bernardino..........2009/$72..........2006/$310.......2002/$107

Yucaipa/Calimesa......2009/$211.......2007/$400.......2002/$155

There are the raw numbers. We will continue to watch for signs of recovery.