Redlands Real Estate & Homes For Sale

Redlands Housing Market Update

The Redlands housing market currently shows a moderate level of competitiveness. As of September 2023, the median sale price of a home in Redlands is $667,000, reflecting an increase of 5.1% from the previous year. This moderate annual growth suggests a market that is stable, yet still offering opportunities for both buyers and sellers.

When examining the cost per square footage, Redlands has experienced a more significant uptick. The median sale price per square foot now stands at $394, an increase of 11.3% compared to last year. This larger percentage growth in per-square-foot cost may imply a greater valuation placed on space within the area, possibly pointing to a trend toward smaller, more valuable properties.

Homes in Redlands remain on the market for an average of 31 days, slightly quicker than the 38 days observed in the previous year. The market generally sees homes receiving an average of 3 offers, indicating a reasonable level of interest from buyers. While some properties do get multiple offers, the overall pace suggests that it is neither a strong buyer's nor a strong seller's market, but rather balanced.

Regarding sales specifics, homes in Redlands generally sell for around the listing price and typically go pending in about 30 days. However, properties that are especially attractive or well-priced can sell for approximately 2% above the listing price and can go pending in a notably shorter period, around 13 days. 

It is worth noting that the number of homes sold has seen a slight decline, dropping from 52 in September of the previous year to 43 this year. This decrease could be influenced by various factors, including economic shifts, interest rates, or possibly a tighter inventory.

Like any other real estate market, Redlands is influenced by a host of external variables, from local economic health to broader market conditions. Those considering participating in this market, as either buyers or sellers, would benefit from staying up-to-date on these trends and may find it advantageous to consult with a real estate professional knowledgeable in the Redlands area.