Median Prices - December 2012 and January 2012

January 9, 2013
If median price changes are any indication of the state of the real estate market, 2012 was indeed a transitional time. Here are the median prices as of December 31, 2012 versus December 31, 2011.
It does seem to indicate that our real estate market is recovering from its devastating downturn. Just a reminder - these median prices are derived from taking the total number of closed single family homes reported through the CRMLS, dividing by two and posting the prices of the property at that halfway point.
Banning/Beaumont...........Dec 2012/$181,000.......Dec 2011/$233,000
Bloomington....................Dec 2012/$185,000.......Dec 2011/$145,000
Colton.............................Dec 2012/$109,000.......Dec 2011/$115,000
Fontana...........................Dec 2012/$230,000.......Dec 2011/$195,000
Grand Terrace.................Dec 2012/$175,000.......Dec 2011/$192,000
Highland..........................Dec 2012/$190,000.......Dec 2011/$165,000
Loma Linda.....................Dec 2012/$265,500.......Dec 2011/$210,000
Mentone..........................Dec 2012/$194,000.......Dec 2011/$128,000
Moreno Valley.................Dec 2012/$166,000.......Dec 2011/$152,000
Redlands..........................Dec 2012/$260,000.......Dec 2011/$206,000
Rialto...............................Dec 2012/$195,000.......Dec 2011/$152,000
Riverside..........................Dec 2012/$220,000.......Dec 2011/$187,000
San Bernardino................Dec 2012/$130,000.......Dec 2011/$102,000
Yucaipa/Calimesa............Dec 2012/$210,000.......Dec 2011/$170,000
As you may note, three of the fourteen communities were lower in median price than in 2011. It will be interesting to see if this is just an anomaly or whether they have not yet quite recovered. It is important to remember that these halfway point prices are the result of the mix of properties sold. They reflect where the activity is occurring.