The California Desert Association Of Realtors® (CDAR) has just released their November 2015 Coachella Valley Real Estate Market Statistics. As a brief summary:
Single Family Residences - Attached and Detached
For November 2015, the median sales price for single family attached and detached residences in the Coachella Valley was $400,625, up from $354,125 in November 2014. For November 2015, there were 340 sales of single family residences (attached and detached) in the Coachella Valley, versus 393 sales in November 2014. It looks like there could be a problem with the reporting of inventory since the inventory of existing single family residences (attached and detached) in the Coachella Valley is showing as 986 (roughly a 2.9 month supply at the November 2015 sales level), down from 3,018 in November 2014.
The highest median sales price by city in the Coachella Valley for singly family attached and detached residences in November 2015 was $765,000, based on 11 sales, in Indian Wells (versus a Coachella Valley high median sales price of $589,500, based on 10 sales, in Indian Wells in November 2014).
Condominiums - Attached and Detached
For condominiums (attached and detached), the November 2015 median sales price in the Coachella Valley was $219,000, up from $200,000 in November 2014. For November 2015, there were 180 sales of condominiums, up from 161 in November 2014. Again, it looks like there could be a problem with the reporting of inventory since the inventory of existing condominiums is showing as 481 (roughly a 2.7 month supply at the November 2015 sales level), down from 1,270 in November 2014.
The highest median sales price by city in the Coachella Valley for condos (attached and detached) in November 2015 was $420,000, based on 11 sales, in Indian Wells (versus a Coachella Valley high median sales price of $392,500, based on 11 sales, in Rancho Mirage in November 2014).
For a city-by-city summary of November 2015 sales activity, please see the chart below:
