April Brings Higher Sales And Prices Of Coachella Valley’s Homes

www.cdaronline.org

FOR IMMEDIATE RELEASE CONTACT:

May 21, 2018 Diane Busch, CDAR President

(760) 346-5637

With City by City Sales Chart

(Media) John Hussar

PRNewsWorks (760) 567-8073

April Brings Higher Sales And Prices Of Coachella Valley’s Existing Homes, Condos, Says California Desert Association of REALTORS®

PALM DESERT (Calif.) – Higher existing home and condominium sales and median prices were back on track in April, the California Desert Association of REALTORS® reported today.

The median existing home sale price was $425,000 in April, up from $405,000 in April 2017. There were 779 existing homes sold in April compared to 632 in April 2017, the CDAR report showed. Sales of condominiums rose last month to 347 from 335 in April 2017. The median price of condominiums was $280,000 in April, up from $250,000 in April 2017.

“This is wonderful news for our desert sellers and buyers. Our Coachella Valley market continues to improve with continued growth in the number of sales over last year and increased values in most cities, “said Diane Busch, president of the California Desert Association of REALTORS®. “As one of the more affordable markets in California, we can expect our real estate market to continue these trends strong throughout the next few months and the remainder of this year.”

Except for the March, September and July 2017 totals, the good news for home sellers and buyers is that there have been monthly increases in existing home sales since May 2016, CDAR said in its monthly report.

The April inventory of available existing single-family homes was 3,639 and 1,709 available condos, compared to 4,328 existing homes and 2,001 condos in April 2017.

The April statistics, including median and average sale prices, are based on the industry standard Multiple Listing Service in tracking sales for buyers and sellers. This report reflects sales in Bermuda Dunes, Cathedral City, Coachella, Desert Hot Springs, Indio, Indian Wells, La Quinta, Palm Desert, Palm Springs and Rancho Mirage. Here is the City by City breakdown of sales of existing homes and condos:

Average SP

Median SP

Units Sold

Average SP

Median SP

Bermuda Dunes

10

$426,180

$380,000

7

$587,686

$489,900

Cathedral City

60

$329,537

$323,750

49

$310,140

$290,000

Coachella

19

$250,574

$249,000

15

$228,727

$219,000

Desert Hot Springs

58

$215,598

$215,000

42

$187,753

$194,000

Indian Wells

21

$1,329,333

$975,000

28

$1,160,214

$805,000

Indio

140

$354,456

$328,500

93

$333,928

$306,500

La Quinta

152

$666,543

$487,250

127

$762,924

$515,000

Palm Desert

135

$735,772

$462,000

109

$452,088

$398,000

Palm Springs

110

$812,687

$660,000

104

$731,052

$580,000

Rancho Mirage

74

$964,865

$707,500

58

$820,698

$637,500

Combined Cities Weighted

779

$616,532

$425,000

632

$575,898

$405,000

2018 April Condo Attached and Detached

2017 April Condo Attached and Detached

Units Sold

Average SP

Median SP

Units Sold

Average SP

Median SP

Bermuda Dunes

7

$225,120

$218,000

8

$183,938

$161,250

Cathedral City

13

$180,115

$163,000

25

$140,856

$125,000

Desert Hot Springs

3

$47,667

$50,000

2

$43,450

$43,450

Indian Wells

10

$375,290

$380,000

10

$376,000

$387,500

Indio

6

$207,500

$163,500

14

$224,429

$172,500

La Quinta

31

$376,416

$389,000

25

$396,400

$425,000

Palm Desert

126

$329,008

$302,450

106

$296,871

$270,750

Palm Springs

116

$274,211

$257,500

104

$253,547

$235,000

Rancho Mirage

35

$297,663

$299,000

41

$299,574

$279,000

Combined Cities Weighted

347

$300,890

$280,000

335

$274,661

$250,000

Active Inventory 2018

Active Inventory 2017

JAN. SFR 3,804 / CONDO 1,779

JAN. SFR 3,862 / CONDO 1,859

FEB. SFR 3,996 / CONDO 1,865

FEB. SFR 4,614 / CONDO 2,151

MARCH SFR 3,866 / CONDO 1,828

MARCH SFR 4,418 / CONDO 2,049

APRIL SFR 3,639 / CONDO 1,709

APRIL SFR 4,328 / CONDO 2,001

MAY SFR 3,182 / CONDO 1,333

MAY SFR 3,990 / CONDO 1,866

JUNE SFR 3,412 / CONDO 1,599

JULY SFR 3,147 / CONDO 1,465

AUG. SFR 2,999 / CONDO 1,395

SEP. SFR 2,854 / CONDO 1,149

OCT. SFR 3,614 / CONDO 1, 729

NOV.SFR 3,654 / CONDO 1,786

DEC. SFR 3,633 / CONDO 1,709

Compiled by California Desert Association of REALTORS® -- Desert Area MLS

Information herein has not been verified and is not guaranteed.

Copyright © California Desert Association of REALTORS®

The California Desert Association of REALTORS ®, the Trusted Source for Real Estate in the Desert Communities, represents more than 3,700 real estate professionals from Palm Springs to Blythe. REALTORS® hold themselves to a higher standard via the National Association of REALTORS®’ Code of Ethics, yet only about a quarter of California licensed real estate agents are REALTORS®. For more information – or to verify you’re working with a REALTOR® – visit www.CDARonline.org or call (760) 346-5637. ###