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

Single Family Residences - Attached and Detached

For July 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $350,000, a healthy jump up from $324,250 in July 2015. For July 2016, there were 545 sales of single family residences (attached and detached) in the Coachella Valley, up from 540 sales in July 2015.

For July 2016, the active inventory of Single Family Attached and Detached Homes continued to drop and stood at 3,147 properties, as compared to 2,405 in July 2015. At the July 2016 monthly sales rate for Single Family Attached and Detached Homes of 545 homes, this represents an inventory of 5.8 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 July 2016 was $861,250, based on 18 sales, in Indian Wells (versus a July 2015 Coachella Valley high median sales price of $972,500, based on 16 sales, again in Indian Wells).

Condominiums - Attached and Detached

For Condos Attached and Detached, the July 2016 median sales price in the Coachella Valley was $235,000, up from $219,500 in July 2015. For July 2016, there were 218 sales of condominiums, up from 198 in July 2015.

For July 2016, the active inventory of Condos Attached and Detached continued to drop and stood at 1,465, as compared with 1,167 in July 2015. At the July 2016 monthly sales rate for Condos Attached and Detached of 218 condos, this represents an inventory of 6.7 months (again, 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 July 2016 was $312,500, based on 20 sales, in La Quinta (versus a July 2015 Coachella Valley high median sales price of $355,000, based on 3 sales, in Indian Wells). 

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