Are you considering buying a home in the Coachella Valley? Staying updated on the local real estate market can help you make an informed decision. Here's the latest market information to guide your home buying journey.

Prices

Great news for buyers! The median price of a detached home in the Coachella Valley has recently adjusted to $695,000, following an all-time high two months ago. This reflects 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, with Coachella seeing a 19.6% gain and Bermuda Dunes experiencing an 11.5% decline. For attached homes, Bermuda Dunes saw a 19.4% increase, while Desert Hot Springs had a 7.0% decrease.

Sales

Sales activity is slightly lower than last year, providing a less competitive market for buyers. 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

The current inventory of 2,464 units means there are plenty of options to choose from. Inventory is expected to decline as we move into the summer months, so now is a great time to explore your options. 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.

Explore Your Home Buying Options

Ready to make your move? Now is an excellent time to buy a home in the Coachella Valley. Visit our website to view the full market report and explore available listings. Our comprehensive market analysis and property listings can help you find your dream home at the best price.

today for personalized assistance and to start your home buying journey in the beautiful Coachella Valley.