Riverside County is home to some very distinct neighborhoods, and because of this, it has some clear high, middle, and low average values. While the median value for all homes in the county sits at $336,000, the numbers that create this average are all over the board.
Casablanca sets the foundation for the lower end, and Alessandro Heights’ high value properties hold up the steeper end. The majority of families who move to Riverside County from other counties are doing so because they find the higher-end homes to be reasonably priced for the area.
Neighborhoods like Hawarden Hills and Alessandro Heights see a lot of buyers who are looking to move away from the bustle of Los Angeles County without leaving Southern California. These are most likely your typical luxury homes in exclusive communities, which causes them to command such a high value. With these properties in the county, the lingering effects take hold on properties that would be deemed average.
High value homes in an area boost the surrounding homes, and homes that aren’t well maintained tend to fall even further in value – especially since buyers know there are better properties in the area. Homes that aren’t desirable tend to see a series of price cuts before they eventually sell, making the final sum substantially less than full market value.