The California Desert Association Of Realtors® (CDAR) has just released their June 2016 Coachella Valley Real Estate Market Statistics. As a brief summary:

Single Family Residences - Attached and Detached

For June 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $349,495, a healthy jump up from $332,900 in June 2015. For June 2016, there were 662 sales of single family residences (attached and detached) in the Coachella Valley, up from 621 sales in June 2015.

For June 2016, the active inventory of Single Family Attached and Detached Homes continued to drop and stood at 3,412 properties, as compared to 2,986 in June 2015 and 3,990 in May 2016. At the June 2016 monthly sales rate for Single Family Attached and Detached Homes of 662 homes, this represents an inventory of 5.15 months (where any inventory level of around 6 months typically indicates a balanced market, and inventory levels significantly below this can indicate a trend towards a seller’s market).

The highest median sales price by city in the Coachella Valley for Single Family Attached and Detached Residences in June 2016 was $850,000, based on 15 sales, in Indian Wells (versus a June 2015 Coachella Valley high median sales price of $685,000, based on 20 sales, again in Indian Wells).

Condominiums - Attached and Detached

For Condos Attached and Detached, the June 2016 median sales price in the Coachella Valley was $228,750, up slightly from $227,250 in June 2015. For June 2016, there were 300 sales of condominiums, up considerably from 238 in June 2015.

For June 2016, the active inventory of Condos Attached and Detached continued to drop and stood at 1,599, as compared with 1,257 in June 2015 and 1,866 in May 2016. At the June 2016 monthly sales rate for Condos Attached and Detached of 300 condos, this represents an inventory of 5.33 months (where any inventory level of around 6 months typically indicates a balanced market, and inventory levels significantly below this can indicate a trend towards a seller’s market). 

The highest median sales price by city in the Coachella Valley for Condos Attached and Detached in June 2016 was $352,000, based on 5 sales, in Indian Wells (versus a June 2015 Coachella Valley high median sales price of $462,500, based on 6 sales, also in Indian Wells).

For a city-by-city summary of June 2016 home and condo sales activity, please see the chart below: