2010 - Bouncing along the Bottom?

August 16, 2010

Here is a posting of the median prices of residential properties in the fourteen communities that I track. These are the monthly median prices from January through July 2010. This is not a scientific evaluation. The numbers are derived from a division in half of the number of reported closed transactions in the IMRMLS and then taking the reported sales price of the property at that halfway point.

Banning/Beaumnont.........Jan/169,000.....Feb/165,000.....Mar/185,000.....Apr/165,000

.............................................May/185,000.....June/171,000....July/170,000

Bloomington.......................Jan/135,000......Feb/110,000.....Mar/150,000.....Apr/150,000

.............................................May/155,000.....June/121,500....July/129,000

Colton..................................Jan/97,500.........Feb/125,000.....Mar/100,000.....Apr/128,000

.............................................May/130,000.....June/150,000.....July/105,000

Fontana..............................Jan/190,000......Feb/200,000......Mar/200,000.....Apr/215,000

............................................May/200,000.....June/213,000.....July/200,000

Grand Terrace..................Jan/236,000......Feb/199,900.......Mar/249,900.....Apr/200,000

............................................May/187,000.....June/182,500.....July/190,000

Highland............................Jan/163,500.......Feb/150,000......Mar/160,000......Apr/162,000

............................................May/173,500.....June/185,000.....July/170,000

Loma Linda.......................Jan/275,000.....Feb/240,000.......Mar/175,000......Apr/240,000

............................................May/203,000.....June/250,000.....July/190,000

Mentone............................Jan/200,000.....Feb/225,000.....Mar/200,000......Apr/190,000

............................................May/220,000.....June/78,000.....July/195,000

Moreno Valley..................Jan/150,000.....Feb/149,000.....Mar/150,000......Apr/157,000

............................................May/163,000.....June/160,000.....July/150,000

Redlands...........................Jan/210,000.....Feb/207,000.....Mar/210,000......Apr/227,000.

...........................................May/217,000.....June/221,000.....Ju;y/199,900

Rialto.................................Jan/145,000.....Feb.144,000.....Mar/155,000.......Apr/155,000

...........................................May/164,901.....June/165,000.....July/150,000

Riverside..........................Jan/185,000.....Feb/200,000.....Mar/190,000.....Apr/190,000

...........................................May/215,000.....June/200,000.....July/190,000

San Bernardino...............Jan/95,000.......Feb/92,000........Mar/90,000.....Apr/110,000

..........................................May/107,000.....June/113,000.....July/107,000

Yucaipa/Calimesa..........Jan/160,000.....Feb/195,000......Mar/199,000.....Apr/179,000

..........................................May/209,750.....June/189,500.....July/170,000

Perhaps the reason that I describe the market as "bouncing along the bottom" is because there does not seem to be a consistent trend. The median prices seems to be in a trading range of about $10,000 to $15,000. Up one month, down the next. Always remember that the median will reflect the range in which properties are selling.