As a homeowner in the Coachella Valley, staying informed about the local real estate market is crucial. Whether you're considering selling your home or simply want to understand the market dynamics, we've got the latest insights for you.

Prices

The median price of a detached home in the Coachella Valley, after reaching an all-time high two months ago, declined in June to $695,000. This represents a modest year-over-year increase of just 0.7%. For attached homes, the median price remained steady at $475,000, unchanged from last year. Year-over-year price changes vary significantly across the Valley, ranging from a 19.6% gain in Coachella to an 11.5% decline in Bermuda Dunes. Similarly, gains for average-sized attached homes vary from a 19.4% increase in Bermuda Dunes to a 7.0% decrease in Desert Hot Springs.

Sales

Sales activity has seen a slight decrease compared to last year. The three-month sales average is down by 59 units, with 739 units sold per month in June compared to 798 units a year ago. Palm Desert leads with the highest monthly sales at 163 units, followed by Palm Springs at 151 units. The 12-month average of sales, which smooths out seasonal variations, stands at 617 units per month, consistent with last year’s figures.

Inventory & “Months of Sales” Ratios

On July 1st, the Valley's inventory stood at 2,464 units, down by 146 units from the previous month. As we move into the summer months, inventory is expected to continue declining. The “months of sales” ratio on July 1st was 4.0 months, up by 1.1 months from last year, indicating a balanced market. Ratios across ten cities range between 2.5 and 4.0 months.

Days in Market (DIM)

The median number of days a property stays on the market in the Coachella Valley was 45 days at the end of June, unchanged from the previous month but up by seven days compared to last year. Coachella continues to have the lowest average selling time at 18 days, followed by Cathedral City at 30 days and Desert Hot Springs at 43 days. On the higher end, La Quinta has the longest average selling time at 53 days.

Price Discounts/Premiums

In June, detached homes sold at an average discount of 2.0%, while attached homes sold at a 2.6% discount. Coachella is the only city where homes are selling at an average premium of 0.1%, whereas Bermuda Dunes has the largest discounts.

Stay Informed and Get Your Home Valuation

To dive deeper into these market trends and understand how they affect your property's value, visit our website to view the full report. While you're there, use our home valuation tool to see what your home is worth in today's market. Our comprehensive market analysis can help you make informed decisions and maximize your investment.

Ready to sell? Contact us today for expert guidance and personalized service tailored to your real estate needs.