Median Home Prices - January/February 2011

March 10, 2011

In the continued interest of tracking the real estate market in our area, here are the median prices for the fourteen communities that I follow. These numbers come from taking the number of closed transactions for single family homes that are reported in the regional MLS system and dividing that number in half. The price at the halfway point is selected as the median for that area. Not scientific, but it is a consistent methodology that should reflect trends.

Banning/Beaumont......Jan/170,000......Feb/155,000

Bloomington.................Jan/165,000.......Feb/130,000

Colton...........................Jan/93,000.........Feb/122,000

Fontana........................Jan/194,500........Feb/195,000

Grand Terrace.............Jan/203,000.......Feb/242,000

Highland......................Jan/162,000........Feb/180,000

Loma Linda.................Jan/250,000........Feb/219,000

Mentone......................Jan/157,000.........Feb/80,000

Moreno Valley............Jan/150,000.........Feb/154,000

Redlands.....................Jan/217,900.........Feb/203,500

Rialto..........................Jan/160,000.........Feb/165,000

Riverside....................Jan/180,000.........Feb/195,000

San Bernardino.........Jan/120,000.........Feb/105,000

Yucaipa/Calimesa....Jan/195,000..........Feb/190,000

For small communities such as Mentone, Bloomington, Grand Terrace and Loma Linda the numbers are a bit skewed when you only have a pool of six or eight sold properties.

Just FYI, only five of the communities had any sales over $400,000. Riverside had 10, Redlands had 6, Yucaipa, Fontana and Highland each had 2.