Home sales in the Riverside market dipped below its average sales volume for the prior 12-month period. In this week's report, they slid 5.1% to 225 homes sold over the last 30 days. In comparison, nearby Moreno Valley had 170 sales in the same time frame, the most of all neighboring cities. The median sales price dropped to $349,000, extending a four-week long spiral. There are only three months of inventory available in Riverside, so it's still a seller's market, despite the falling prices.
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