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

A.      Single Family Residences - Attached and Detached

·       For September 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $333,000, a healthy increase from $312,200 recorded in September 2015. For September 2016, there were 530 sales of single family residences (attached and detached) in the Coachella Valley, up from 436 sales in September 2015.

·       For September 2016, the active inventory of Single Family Attached and Detached Homes continued to drop on a month by month basis and stood at 2,854 properties (the lowest level this year), as compared to 2,252 in September 2015. At the September 2016 monthly sales rate for Single Family Attached and Detached Homes of 530 homes, this represents an inventory of roughly 5.4 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 September 2016 was $615,725, based on 10 sales, in Indian Wells (versus a September 2015 Coachella Valley high median sales price of $675,000, based on 11 sales, again in Indian Wells).

B.   B.  Condominiums - Attached and Detached

·       For Condos Attached and Detached, the September 2016 median sales price in the Coachella Valley was $227,500, up from $220,000 recorded in September 2015. For September 2016, there were 181 sales of condominiums, down from 191 in September 2015.

·       For September 2016, the active inventory of Condos Attached and Detached continued to drop on a month by month basis and stood at 1,149 (again the lowest level this year), as compared with 1,058 in September 2015. At the September 2016 monthly sales rate for Condos Attached and Detached of 181 condos, this represents an inventory of roughly 6.3 months (again, where any inventory level of around 6 months typically indicates a balanced market, and inventory levels significantly above this can indicate a trend towards a buyer’s market). 

·       The highest median sales price by city in the Coachella Valley for Condos Attached and Detached in September 2016 was $346,200, based on 4 sales, in Indian Wells (versus a September 2015 Coachella Valley high median sales price of $321,238, based on 12 sales, in La Quinta).

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