92508 in Riverside is starting to move closer to $100 sq/ft for the price leaders. This short for instance is $101 sq/ft MLS Y800396, or this REO at $116 MLS T08023981. There are quite a few under $120 sq/ft now, when just a couple of months ago there was practically nothing under $130 sq/ft. Most of the lower priced stuff are still short sales. But a few of the REOs are under $120 sq/ft… and dropping fast.
This area was well under $100 sq/ft in 2001/2002. And I think it will be going back to that price range ($70-$80 sq/ft for the larger generic tract houses).
