Residential Real Estate Market

Number of Homes Sold Declines for First Time in Four Years

Given San Bernardino County’s location and relative housing affordability in Southern California, it has become a substantial supplier of jobs in construction and housing-related industries. As a result, the county’s economy is acutely sensitive to changes in the housing market. Trends in home sale prices, housing availability, and the number of housing permits granted signify the health of the county’s housing market and the local economy, as well as consumer confidence.

How is San Bernardino County Doing?

Median home sale prices continue to rise:

  • The median sale price of existing single-family homes increased 5%, from $277,000 in January 2018 to $290,000 in January 2019, nearing pre-recession levels.
  • During the 10-year period between January 2010 and January 2019, the median sale price of homes increased 115% in San Bernardino County, compared to an 89% increase in California.

Home sales declined in 2018:

  • There was a 6% decrease in the number of homes sold, from 30,321 homes sold in 2017 to 28,377 homes sold in 2018.
  • Overall, this represents the first decline in home sales since 2014.

Median Sale Price of Existing Detached Homes

San Bernardino County and California, January 2005-January 2019
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Source: California Association of Realtors (www.car.org)

Despite a recent decrease in the number of housing construction permits granted, the post-recession trend is upward:

  • The number of housing permits granted decreased 16% between 2017 and 2018, dropping from 6,675 to 5,577 housing units granted.
  • This translates to 2.6 permits granted per 1,000 residents in San Bernardino County in 2018, down from 3.1 permits granted per 1,000 residents in 2017, and lower than the California rate (2.9).
  • However, since 2011, the number of permits granted increased more than two and a half fold, up from 0.7 permits per 1,000 residents granted in 2011.

Number of Homes Sold

San Bernardino County, 2004-2018
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Source: Dataquick 2003-2016 & Dataquick division of CoreLogic 2017

Housing Permits Granted per 1,000 Residents

San Bernardino County and California, 2003-2017
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