The Desert Sun’s Rosalie Murphy writes that there were 868 total home sales recorded in the Coachella Valley in August, up 13 percent from August 2015. The median price of these sold homes rose to $295,000, a 6.5 percent increase from last August, according to data from real estate research firm CoreLogic DataQuick. The August total home sales figure comes from 570 sales of resale single family homes (up 10.5 percent from August 2015), 246 sales of resale condos (up 29.5 percent from August 2015) and 52 sales of new homes (down 16.1 percent from August 2015). In the period between January and August, there were 7,291 total homes sold, up about 4.2 percent from the same period last year.
La Quinta recorded the most home sales in the Coachella Valley in August, with 122 sales, a 47 percent increase from August 2015. Indian Wells again posted the region's highest median price at $725,000, or $212 per square foot. Palm Springs’s median prices per square foot were almost as high with $208 per square foot recorded for the 92262 ZIP code and $206 per square foot recorded for the 92264 ZIP code.
Desert Home Sales in August; The Numbers at a Glance
- Total sales: 868, up 13 percent from August 2015
- Resale single-family home sales: 570, up 10.5 percent from August 2015
- Resale condo sales: 246, up 29.5 percent from August 2015
- New construction sales: 52, down 16.1 percent from August 2015
- Median price: $295,000, up 6.5 percent from August 2015
- Median price per square foot: $167, up 3.3 percent from August 2015
Source: CoreLogic DataQuick
To read more, including a link to Rosalie Murphy’s original article, courtesy of The Desert Sun, please visit: August Desert Housing Market - Sales and Prices Rise