The Desert Sun’s Rosalie Murphy reports that Coachella Valley condo prices jumped in November to their highest level since May. The 223 condos that sold in November fetched a median price of $250,000. Compared to November 2014, sales rose by 20 percent and prices by 11 percent, according to data from real estate research firm CoreLogic DataQuick.
Resale and new single-family homes in November sold for median prices on par with November 2014 - medians of $306,500 for existing homes and $364,800 for new construction homes, according to CoreLogic DataQuick.
The cheapest desert homes in November were in the 92241 zip code of Desert Hot Springs, where three homes sold for a median price of just $103,000, or $91 per square foot. Indian Wells again posted the highest prices, with 25 homes fetching a median of $575,000, or $212 per square foot. Houses in the 92262 zip code of Palm Springs actually commanded a higher price per square foot, $224, but the 75 homes sold there went for a median price of just $320,000.
Highlights:
Total sales: 672, up 2.1 percent from 2014
New construction sales: 46, down 37.8 percent from 2014
Resale single family homes: 403, up 1 percent from 2014
Resale condos: 223, up 20.5 percent from 2014
Median price: $289,000, down 2 percent from 2014
Median price per square foot: $167, down 2.5 percent from 2014
Source: CoreLogic DataQuick
Please use the following link to read the article, courtesy of The Desert Sun: http://www.desertsun.com/story/money/real-estate/2015/12/23/corelogic-dataquick-condos-desert-sales/77389810/