The California Desert Association Of Realtors® (CDAR) recently released their October 2015 Coachella Valley Real Estate Market Statistics. As a brief summary:
Single Family Residences - Attached and Detached
For October 2015, the median sales price for single family attached and detached residences in the Coachella Valley was $346,125, down from $385,125 in October 2014. For October 2015, there were 435 sales of single family residences (attached and detached) in the Coachella Valley, versus 434 sales in October 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 1,080 (roughly a 2.5 month supply at the October 2015 sales level), down from 2,634 in October 2014 and 2,252 in September 2015.
The highest median sales price by city in the Coachella Valley for singly family attached and detached residences in October 2015 was $660,000, based on 11 sales, in Indian Wells (versus a Coachella Valley high median sales price of $1,825,000, based on 3 sales, in Indian Wells in October 2014).
Condominiums - Attached and Detached
For condominiums (attached and detached), the October 2015 median sales price in the Coachella Valley was $212,500, up from $175,000 in October 2014. For October 2015, there were 168 sales of condominiums, down from 176 in October 2014. Again, it looks like there could be a problem with the reporting of inventory since the inventory of existing condominiums is showing as 443 (roughly a 2.6 month supply at the October 2015 sales level), down from 1,149 in October 2014 and 951 in September 2015.
The highest median sales price by city in the Coachella Valley for condos (attached and detached) in October 2015 was $320,000, based on 5 sales, in Indian Wells (versus a Coachella Valley high median sales price of $360,900, based on 5 sales, in Indian Wells in October 2014).
For a city-by-city summary of October 2015 sales activity, please see the chart below:
