Growth in Apple Valley isn’t necessarily awful – but it’s certainly been better. The real estate collapse hit the area harder than most, and values aren’t going to return to their previous highs. In early 2007, the average property value in Apple Valley was $307,000.
At their lowest, homes lost more than half their value, and the average fell drastically to $120,000. These days, values are right about $225,000, and they’re predicted to stay that way.
While the market is slightly above center in terms of health, it’s definitely more of a buyer’s market. People moving to Riverside County have a tendency to purchase properties in areas that were hit worse by the collapse, because they can purchase them for a lot cheaper.
This leads to a high level of competition, and many sellers wind up letting their houses go for far less than they’d anticipated. More than 15% of houses sell at a price cut, and many list at less than their market value.