East Riverside County House Sales Decline
New-home sales in east Riverside County, which includes the Coachella Valley resort area, plummeted 48.1% during the first quarter of 1985, according to Residential Trends, a quarterly housing report developed by Costa Mesa-based Market Profiles.
Only 302 homes were reported sold during the January-through-March period, in contrast with 582 sales from October through December, 1984.
East Riverside County accounted for only 17.3% of new-homes sales in the entire county, which showed a 12% increase in new home sales during the quarter.
With 3,183 reported unsold units, inventory is at its highest level since May of 1984 in east Riverside County. However, the average sales price in the east Riverside area increased by 4.6% to $146,103.
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