Westcoe Realtors, Riverside California…Ok….I’m off vacation (bummer) and back to the real world…and before we leave the month of August, we should throw out the latest MLS stats for Riverside before we replace them with what is happening in September. This should have been done here about 2-3 weeks ago, but then that would have meant writing this blog while on said vacation, which was not going to happen!
Below is the chart for the latest Riverside area real estate activity as per our local MLS….and yes, the columns are crooked…they are straight when I type them, but crooked when published…computers!
Month Active Listings Sales for the month Closings for the month
January 1034 422 502
February 1095 424 482
March 1115 512 631
April 1068 586 619
May 1167 495 620
June 1075 386 429
July 1170 361 n/a
August 1210 n/a n/a
(note: the n/a info is not available until the end of the month….2 months for the closings)
So…what do the latest numbers mean? Well, inventory is holding steady, sales for the month are off only slightly, but the closing numbers are off significantly, but one month does not necessarily mean much. It could be the beginning of a trend, or simply the way the closings fell for that particular month. The good news is that new information becomes available tomorrow, September 1, so we will gather that info, and write more in our blog later this week. By then, we will also be able to see if this drop in closings is simply a “goofy” month, or something more…but since the pending sales held fairly steady, the closing drop could simply mean there is as much in escrow, but merely taking longer to close.
We’ll get a better picture in a few days, so check back with us then.
Thanks for understanding my taking a couple of weeks to become human again.
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