As we are penning this blog, there are currently 416 available properties for sale in the city of Riverside…a drop of over 40% from this time last year. This includes all condos, townhomes, manufactured homes, and single family residences! This is equivalent to rocket fuel for sellers.
High demand and low supply has always been a classically good scenario for sellers. These inventory figures always fluctuate throughout the year, but starting the year this low gives us a pretty good idea of where we might be headed. Low inventory will play a huge part in our real estate market appreciates this year. If you are remotely thinking about selling, there is no better time than now! Low competition will maximize your capital gains and put you in the drivers seat throughout the course of escrow.