California

<p>As we stepped into 2024, San Bernardino witnessed a steady rise in average property values from January, starting at $450,000, peaking in May at $500,000, and slightly retracting to $489,450 by July. This upward trend indicates a growing interest and valuation in the area’s real estate, notwithstanding a minor dip mid-year. Similarly, the average sale price per square foot saw incremental growth, beginning the year at $356 and modestly climbing to $357 by July.</p>
<p>Contrasting this growth, the <a href="https://www.realtytrac.com/san-bernardino-ca/sold/?lat=34.15673338817781&lng=-117.34817350000002&zoom=12.6221923828125">number of sold homes</a> displayed a subtle decrease. In July 2024, the figure stood at 1,601 properties, down from 1,662 in August 2023. This decline might suggest a tightening market or possible shifts in buyer sentiments and market dynamics.</p>
<h2>San Bernardino Current Market Snapshot – July 2024</h2>
<p>Delving into the specifics for July 2024, San Bernardino shows an average property value of $489,450, with the average property sale price slightly lower at $479,516. This close range indicates a market where properties are selling near their listed values—a healthy sign for the market. However, the sale price per square foot has climbed to $357, suggesting that space within the city is becoming more valuable or that smaller, higher-value properties are making up a larger share of sales.</p>
<p>Property sales continue robustly, with 1,601 transactions completed in July alone, reflecting sustained buyer interest despite the year’s overall downward trend in sales volume.</p>
<h2>Comparison with Nearby Cities</h2>
<p>When put side by side with nearby cities like Crestline, Cedarpines Park, Twin Peaks, Rimforest, and Rialto, San Bernardino’s real estate market presents both contrasts and parallels. For instance, Rialto recorded a higher average property value at $546,000 in July 2024, while Twin Peaks reported a lower figure at $350,000. This suggests a diverse range of investments and property values in adjacent areas, influenced possibly by location-specific factors such as amenities and geographic desirability.</p>
<p>In terms of sale prices, Rialto again topped with an average sale price per square foot of $376, outpacing other cities, including San Bernardino. This could highlight Rialto’s robust market demand or possibly a higher quality or newer inventory of listings compared to its neighbors.</p>
<p>Lastly, transaction activity across these cities varied, with Rialto seeing 587 properties sold, significantly higher than much smaller figures like Rimforest’s 12 sales, showcasing the larger market scale and buyer interest in different locales.</p>
<h2>Recent Transactions and Foreclosure Insights</h2>
<p>The last six months have seen San Bernardino register a median sale price of $460,000, ascending from $445,000 observed over the last year. This growth in values over a yearly perspective underscores an appreciating market. The transaction count for the last six months stood at 900, a noticeable drop from 1,813 transactions in the past year, possibly indicating a shift towards a seller’s market with fewer, but more valuable deals.</p>
<p>Regarding distressed properties, San Bernardino has recorded 182 foreclosures with a median property value of $495,000. There are also 151 properties in pre-foreclosure, indicating a significant segment of the market is under financial strain, which could impact future values and market stability.</p>
<p>By examining these detailed aspects of San Bernardino’s real estate market and its surrounding areas, potential buyers and investors can make informed decisions, leveraging the upward trends and navigating through the market’s complexities and opportunities as they evolve.</p>


Market Reports

Market Trend Report For Bakersfield, California – March 2024

Stockton Housing Market Comparably Affordable Amid Rising California Prices – January 2024 Report

San Bernardino Real Estate on the Rise: July 2024 Sees Property Values Peak Amid Fluctuating Market Dynamics

San Bernardino’s real estate values rose steadily in early to mid-2024, with average property values peaking at $500K in May. Sale prices per sq. ft also increased modestly despite a subtle decrease in number of properties sold. Comparison with nearby cities shows varied market trends.

San Bernardino Real Estate on the Rise: July 2024 Sees Property Values Peak Amid Fluctuating Market Dynamics - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/08/Market-Report-San-Bernardino-CA-Feb-2024.png

Resource

RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

https://secure.gravatar.com/avatar/017e3eb9b2b2815da5c9c544f2b2cb568f9de91a1fb2c8168ec7e918e3971cee?s=96&d=mm&r=g

Manuel Martinez

Information about funding options for real estate investments

Home Buying Financing

A new home

Resources for purchasing property and homes

Home Buying

foreclosure_home_for_sale_sign

How to Buy A Foreclosure - A Guide for Investors and Homebuyers

Mortgage

How to Receive a Free Mortgage Loan Quote

Home mortgage

Monthly Mortgage Calculator

Buying a home

Financial Planning Is Key To Prevent Your Home to Go Into Foreclosure

How Much Should You Spend On Your First Home?

Learn about the key factors to consider when determining how much to spend on your first home.

How Much Should You Spend On Your First Home? | RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/03/A-new-home.jpg

Jessica Morgan is a real estate expert with over 15 years of experience. Starting as an agent, she now provides insightful market analysis and investment advice. Jessica holds a degree in Urban Planning and Real Estate Development from UC Berkeley. She enjoys exploring neighborhoods, renovating homes, and educating others through her writing and workshops.

https://www.realtytrac.com/wp-content/uploads/2024/06/cropped-Jessica-Morgan-96x96.jpg

Jessica Morgan

Foreclosure

Legal questions

Listing Type

Foreclosed Home

How to Stop a Home Foreclosure

Packing boxes storage

The Legal Rights of Tenants in Foreclosed Properties

Man with empty wallet

How Do You Buy a House if You’re Broke?

Rules for auctions

Foreclosure Auction Dos and Don'ts

Strict Foreclosures – What You Need To Know

Understand how strict foreclosure stands apart from other foreclosure methods.

Strict Foreclosures - What You Need To Know - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/05/Legal-questions.jpg

Tips and guides on how to buy your next home

Home Buying Guides & Tips

Construction Site of New Homes

What to Know About Buying a Second Home

home-selling-stress

What’s More Stressful: Buying Or Selling A Home?

Luxury Home

What Type of Home Do You Live in? We List The Most Common Property Types

Abstract blur supermarket

Should You Buy Investment Real Estate Where You Shop?

Is Buying a Foreclosed Home a Good Idea for First-Time Home Buyers?

Are you considering purchasing a foreclosure for your first home? Let's look potential pitfalls, and essential tips to make an informed decision.

https://www.realtytrac.com/wp-content/uploads/2023/07/iStock_000007731653Small-1.jpg

David joined Nations Info as President in 2020 to take on the responsibilities of strategic planning, overall company management, product development and customer acquisition. With him, David brings 20 years of experience in the internet and technology industries, with leadership in Product, Marketing, Technology, as well as leading international teams in companies such as Ebates, Living Social, Groupon and Microsoft. David attended The MIT Sloan School of Management’s MBA program and earned his Bachelor’s degree from the University of California, Berkeley, studying Computer Science.

https://www.realtytrac.com/wp-content/uploads/2024/06/cropped-David-Teng-RealtyTrac-96x96.webp

San Bernardino Real Estate on the Rise: July 2024 Sees Property Values Peak Amid Fluctuating Market Dynamics

$99,900

$330,000

$166,500