Riverside is a rapidly growing city of more than 250,000 located in Southern California's "Inland Empire." The city features a large and diverse economy, affordable housing, historic charm and all the amenities of a major metropolitan area. Riverside is rich in history, art and culture. Residents enjoy the ballet, their own symphony orchestra, art galleries, museums, theater and the Citrus State Historic Park.
Riverside public schools are among the best in the county. The community is also home to four internationally recognized colleges including the prestigious University of California at Riverside. The centerpiece for social events in Riverside is the historic Mission Inn. The Inn and neighboring commerce center fill an entire block with numerous shops, businesses and restaurants. It is adjacent to the downtown area that is home to many state government offices, the Riverside County Administrative Center and a legal complex consisting of county, state and federal courts.
Riverside Real Estate Market: Price Range of Riverside Real Estate
The real estate market in Riverside offers housing priced to fit anyone's budget. Condominiums and townhouses in Riverside start as low as $165,000 and range up to $340,000 for newer and more elaborate models. Single-family homes begin at around $240,000 and reach up to $2,000,000 and more for larger properties with room for horses. Land is also available in Riverside for custom homes and estates.
Riverside Real Estate Stats and Trends for the week of April 21st, 2020: homes priced around $499,353 compared to $499,353 the previous week, to remain steady with no change in listing price. For Tuesday, April 21st, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.