This Desert Sun article looks at the Coachella Valley real estate market and concludes that even though local home prices and sales numbers entered their annual summer slump in July, by both measures, the market has improved from a year ago, continuing a steady upward climb as the housing market continues to recover.
Some highlights, based on data from real estate research firm CoreLogic DataQuick:
- The median price for a Coachella Valley home fell to $285,000 in July, after hovering around $295,000 for most of the year. Still, though, prices rose 2.3 percent year over year.
- Resale single-family homes fetched a median price of $300,000, 5.3 percent higher than July 2014.
- New construction home prices rose 6.2 percent year over year to a median of $338,500.
- Condos prices fell 11.8 percent to a median price of $220,500.
- Across the Coachella Valley, 881 homes sold in July, up 0.8 percent from July 2014.
- The high sale price in the Coachella Valley for July was $4,049,000 in Indian Wells.
- Nationwide, median prices rose year-over-year for the 41st consecutive month. According to the National Association of Realtors, the median home price was $234,000 in July.
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