The Desert Sun’s Rosalie Murphy writes in a recent article that Coachella Valley home prices rose in July for the 16th consecutive month, climbing 8 percent year- over-year to a median of $329,500, according to real estate research firm CoreLogic DataQuick. However, sales slowed slightly, dropping 4.1 percent year over year, with a total of 827 sales recorded during July.
Homes sold for a median price of $178 per square foot in July, up about 3.8 percent year over year. Indian Wells led prices at a median of $245 per square foot. For comparison purposes, statewide, homes sold for a median price of $549,460, up 7.4 percent year over year.
In July, the California Desert Association of Realtors® counted 2,804 houses and 1,248 condos on the market, down 28 percent from July 2016. Those homes would take about four months to sell at the current pace.
Desert Home Sales In July 2017 At A Glance:
- Total sales: 827, down 4.1 percent from July 2016
- New construction sales: 35, down 5.4 percent year over year
- Resale single-family homes: 570, up less than 1 percent year over year
- Resale condos: 222, down 14.6 percent year over year
- Median sale price: $329,500, up 8 percent year-over-year
- Median price per square foot: $178, up 3.8 percent year-over-year
Source: CoreLogic DataQuick
To read Rosalie Murphy’s original article, courtesy of The Desert Sun, please visit: Guess what? Coachella Valley home prices rose again in July