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The median price of a detached home in the Coachella Valley ended June at $695,000, which is a change of 0.4% from last year. The median price of attached homes ended the month at $465,000, which is a change of -1.1%. Year over year price changes in the average size detached home range from 11.5% in Indian Wells to -4.1% in Palm Desert. In the average size attached home, changes range from 2.9% in Desert Hot Springs to -6.9% in Cathedral City.
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The three month average of sales in June was 675 units compared to 731 units a year ago. The 12-month average, which takes out seasonality, was 600 units a month. Palm Desert has the highest sales at 143 units followed by Palm Springs with 135 and La Quinta with 112. Dollar sales in June were $620 million, compared to $625 million last year.
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INVENTORY & “MO. SALES” RATIOS
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At the end of June, total Valley inventory was 3,313 units, which is a change from last year by 34.5%. The Valley’s “months of sales” ratio was 4.9 months, which is 1.5 months different from last year. Palm Springs has the highest ratio at 5.6 months. The lowest ratio is in Indian Wells at 3.8 months.
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At the end of the month, the median number of “days in the market” in the Coachella Valley was 52 days, which is 7 days different from last year. Coachella has the lowest average selling time at just 37 days. This is followed by La Quinta at 47 days. Indio has the highest median selling time at 62 days.
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Currently, detached homes are selling at an average premium/discount of -2.6% compared to -2.0% a year ago. Attached homes are selling at -3.2%. The city of Coachella has the best ratio of 0.0%, while Palm Springs has the highest ratio of -4.1%. The percent of homes selling over list price was 11.0%. This compares to 15.0% last year.
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PALM SPRINGS AERIAL TRAM - Escape the Heat.
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Cooler temperatures and outdoor adventures ranging from guided nature walks to camping under the stars make the Palm Springs Aerial Tramway the perfect year-round escape for every type of traveler. Explore over 50 miles of hiking trails, such as the Long Valley Discovery Loop , an easy 1-mile path that envelops hikers in woodlands, wildflowers and birdsong. Climb new heights while bouldering your way up a massive wall of rocks. You can even build a snowman during winter months, when the mountaintop transforms into a glistening winter wonderland, complete with cross-country skiing, snowshoeing, and more.
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THINGS TO DO WITH KIDS IN GREATER PALM SPIRNGS
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You’ll find endless things to do in Palm Springs with the kids — and make memories that will last a lifetime. With near-perfect weather, family-friendly pools, mesmerizing mountain scenery, and year-round activities encompassing everything from art to the outdoors, this Southern California oasis inspires young minds as much as it entertains. Omni Rancho Las Palmas Resort & Spa features its own 2-acre water playground with a lazy river and sandy beach, while the Westin Mission Hills Resort & Spa invites the young (and young at heart) to zip down the main pool’s 60-foot waterslide.
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Thinking of Buying or Selling or Investing?
Contact me today at (310) 422-8797 to get started!
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Based on information from the Association of REALTORS®/Multiple Listing as of [date the AOR/MLS data was obtained] All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. This is not meant as a solicitation if your property is currently listed with another broker. Office DRE#01811831
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