“MANY BENEFITS”
by Contributor
(Jan. 9, 2019) — The real estate market has faced various changes both good and bad over the years. Selling and buying houses has become a common aspect around the world. Different areas have different real estate markets with some making upgrades to their housing while others have completely changed their approach. One thing that remains certain is that people need houses.
Buying a house is not an easy task. One has to shop around, visit many homes before they can eventually settle on “the one.” One factor that many consider is the geographical location of the house. Different real estate markets have different prices depending on the area. The house prices in New York vary from those in Florida or Los Angeles. If you are asking What’s the Housing Market Like in Riverside, California? Here are a few reasons why you should consider investing in Riverside. It is one of the growing real estate markets in California.
The Riverside real estate market has seen tremendous growth over the last couple of year. This can be credited to the growing population and infrastructure around the community. Homes in Riverside have gone up 4.8% in the previous year, and some experts predict the numbers might go up by 2.8% this year.
As per November 2018, Riverside has a seller market, meaning there were more buyers than there were existing houses for sale. There are many amazing houses in Riverside that are suitable for single people, families and other gatherings. Currently, there are over 1000 homes for sale in Riverside, while there are about 100 or more rentals.
There are many benefits to purchasing a house in the area. Riverside is among the most secure locations you can find. There are security measures in all neighborhoods with minimal crime activities. Security has lured many people into Riverside real estate.
Houses in the area have pocket-friendly prices, allowing homeowners to purchase their dream house while not putting too much pressure on their finances. Houses, however, vary depending on the developer. Single-family homes in Riverside real estate range about $460 to $ 490. Condos or townhomes range between $290-$300, again depending on the real estate company.
The Riverside real estate market is well-organized. Owners have access to different amenities. There are schools, hospitals, gyms, churches and other facilities well-distributed across the region. There are roughly 146 schools in the area.
Like most regions, Riverside is rich with the unique neighborhood for different tastes and preferences. There are 33 neighborhoods in Riverside. This also brings a difference in prices. Some neighborhoods have houses going for as high as $850,000 while others have houses selling at $315,000.
When it comes to transportation, most people in Riverside commute by car; however, there are public transportations available all around the region. Reportedly there is minimal usage of bikes and foot commuters.
For those looking to rent a house, the rental situation is quite affordable. Riverside has the rent list price valued at $2,000 while the rent list price per square foot is at $1.27.