Local residential real estate market experts Market Watch LLC have just released their June 2025 GPSR (Greater Palm Springs Realtors) Desert Housing Report. Some of the highlights:
JUNE COACHELLA VALLEY HOME SALES RECOVERY: In June, Coachella Valley home sales were 26% below the pre-pandemic June norm (where the June norm was calculated from June monthly home sales in the years 2016, 2017, 2018 and 2019).
JUNE COACHELLA VALLEY DETACHED HOME MEDIAN PRICE: The detached home median price in the Coachella Valley ended June at $695,000 (up $3,000 or 0.4% from a median price of $692,000 in June 2024). Market Watch explained that the detached home median price in the Coachella Valley usually hits its seasonal low between Autumn and Spring. Market Watch felt that this data showed that detached homes in the Coachella Valley have in general maintained the price gains made during the pandemic.
JUNE COACHELLA VALLEY ATTACHED HOME MEDIAN PRICE: The attached home median price in the Coachella Valley ended June at $465,000 (down $5,000 or 1.1% from a median price of $470,000 in June 2023). Market Watch noted that the seasonal price range for attached homes is much larger than the seasonal price range for detached homes but the attached home median price seemed to be following the same seasonal pattern as the detached home median price.
JUNE YEAR-OVER-YEAR CHANGE IN THE PRICE OF THE AVERAGE SIZE HOME BY CITY: In June, the year-over-year changes in the price of the average size detached home in each Coachella Valley city ranged from an increase of 11.5% (up to $2,060,996 from $1,847,786 in June 2024) for the average size 3,450 sq ft detached home in Indian Wells to a decrease of 4.1% (down to $725,769 from $756,800 in June 2024) for the average size 2,200 sq ft detached home in Palm Desert. In June, the year-over-year changes in the price of the average size attached home in each Coachella Valley city ranged from an increase of 2.9% (up to $144,773 from $140,708 in June 2024) for the average size 750 sq ft attached home in Desert Hot Springs to a decrease of 6.9% (down to $311,163 from $334,063 in June 2024) for the average size 1,250 sq ft attached home in Cathedral City.
JUNE COACHELLA VALLEY MONTHLY HOME SALES (THREE-MONTH AVERAGE): In June in the Coachella Valley, the three- month average of total home sales was 675 homes (down 7.6% from average sales of 731 homes in June 2024). Because of the seasonality in home sales in the Coachella Valley, Market Watch noted that it was difficult to determine where home sales were at on a historical basis. They explained that the Sales Recovery information (which showed June home sales in the Coachella Valley were 26% below the pre-pandemic June norm) was designed to help distinguish seasonal changes from real ones.
JUNE COACHELLA VALLEY MONTHLY HOME SALES (TWELVE-MONTH AVERAGE): The 12-month average of Coachella Valley monthly home sales in June (which removes seasonality from the Coachella Valley’s home sales data) was 600 home sales (down 10 home sales or 1.7% from 610 monthly home sales in June 2024). Market Watch stated that the housing market needs lower mortgage rates. They added that although inflation remains low, the Federal Reserve Board has stopped lowering short-term rates until the effect of the administration’s new economic policies can be determined.
JUNE COACHELLA VALLEY MONTHLY HOME SALES BY CITY: In June, Palm Desert had the highest monthly home sales at 143 homes (down 11.2% from 161 monthly home sales in June 2024). This was followed by Palm Springs at 135 monthly home sales (down 9.4% from 149 monthly home sales in June 2024), then La Quinta with 112 monthly home sales (down 5.8% from 119 monthly home sales in June 2024). In June, the lowest monthly home sales were in Coachella at 7 homes sales (the same as in June 2024).
JUNE COACHELLA VALLEY MONTHLY HOME SALES BY PRICE RANGE: In June in the Coachella Valley, the highest monthly home sales was 106 homes for homes priced between $400K and $499K, followed by 102 monthly home sales for homes priced between $500K and $599K and followed by monthly home sales of 100 homes for homes priced between $1M and $1.999M.
JUNE COACHELLA VALLEY MONTHLY HOME SALES IN DOLLARS: In June in the Coachella Valley, monthly home sales in dollars were $620M (down 0.9% from monthly home sales of $625M in June 2024).
JUNE COACHELLA VALLEY MONTHLY HOME SALES IN DOLLARS BY CITY: In June, the Coachella Valley city with the highest monthly dollar sales was La Quinta with average monthly home sales of $144M (up 9% from monthly home sales of $131M in June 2024). This was followed by Palm Springs with monthly home sales of $123M in June (down 7.5% from monthly home sales of $133M in June 2024) and Palm Desert with monthly home sales of $108M (down 12.2% from monthly home sales of $123M in June 2024).
JUNE COACHELLA VALLEY MONTHLY HOME SALES IN DOLLARS BY PRICE RANGE: In June, the highest monthly dollar home sales was $192M for homes priced over $2M (up 33.3% from monthly home sales of $144M in June 2024). This was followed by monthly home sales of $139M for homes priced between $1M and $1.999M (down 15.8% from $165M monthly home sales in June 2024). Market Watch noted that monthly home sales in dollars for these two price ranges accounted for 53.4% of all monthly home sales in dollars in the Coachella Valley in June.
JULY 1ST COACHELLA VALLEY HOME INVENTORY: On July 1st in the Coachella Vallery, the combined inventory of detached and attached homes was 3,313 homes (up 703 homes or 27% from 2,610 homes on July 1st, 2024). Market Watch noted that the home inventory in the Coachella Valley has been improving, and current numbers were comparable to inventory before the pandemic. They also referenced the seasonal pattern in inventory levels, with the highs at the turn of the year and the lows in late Summer.
JULY 1ST COACHELLA VALLEY HOME INVENTORY BY CITY: The highest inventory level in the Coachella Valley on July 1st was 754 homes in Palm Springs (up 21% from 625 homes on July 1st, 2024). The lowest inventory level in the Coachella Valley in June was 30 homes in Coachella (up 3.5% from 29 homes on July 1st, 2024). Market Watch noted that this information could help identify the Coachella Valley cities where homeowners have the greatest selling interest and how it compares to last year.
JULY 1ST COACHELLA VALLEY HOME INVENTORY BY PRICE RANGE: On July 1s, the highest inventory level in the Coachella Valley was 566 homes for homes priced between $1M and $1.999M (up 25% from an inventory of 454 homes on July 1st, 2024). In June, the lowest inventory level in the Coachella Valley was 173 homes for homes priced between $900K and $999K (up 33.1% from an inventory of 130 homes on July 1st, 2024), Market Watch felt that this information could help identify any price ranges that might be responsible for the growth or contraction of inventory.
JULY 1ST COACHELLA VALLEY REGIONAL MONTHS OF SALES RATIO: On Julky 1st, the Coachella Valley’s months of sales ratio was 5.5 months (compared to 4.0 months on July 1st, 2024). Market Watch noted that this fundamental ratio, which measures supply and demand, was above pre-pandemic levels in June. They felt that while the inventory level has recovered, because of low sales, supply is beginning to exceed demand. They further felt that this should not cause a problem for home prices unless it begins to extend average selling times.
JULY 1ST COACHELLA VALLEY MONTHS OF SALES RATIO BY CITY: Market Watch noted that the months of sale ratios were consistent between 4.0 and 6.0 months on July 1st in most Coachella Valley cities. On July 1st, the highest months of sales ratio was in Palm Springs at 5.6 months (compared to 4.2 months on July 1st 2024). The lowest months of sales ratio on July 1st was in Indian Wells at 3.8 months (the same as on July 1st 2024). Market Watch stated that since months of sales is really the supply-demand equation for housing, it shows the housing market is becoming supply heavy.
JULY 1ST COACHELLA VALLEY MONTHS OF SALES RATIO BY PRICE RANGE: On July 1st, the highest months of sales ratio was 6.7 months for homes priced between $900K and $999K (compared to a months of sale ratio of 4.3 months on July 1st 2024). The lowest months of sales ratio on July 1st was 4.1 months for homes priced between $400K and $499K (compared to a months of sales ratio of 2.8 months on July 1st, 2024). Market Watch explained that since months of sales ratios are really the supply-demand equation for housing, the large increases over last year showed that supply was starting to exceed demand in almost all price brackets. It hasn’t affected prices yet and most probably won’t until selling times begin to lengthen.
JUNE COACHELLA VALLEY REGIONAL DAYS IN THE MARKET: At the end of June, the median number of days in the market in the Coachella Valley was 52 days (up 7 days from 45 days at the end of June 2024). Market Watch noted that the median selling time, including both detached and attached homes, in the Coachella Valley had been running between 40 and 50 days for over two years.
JUNE COACHELLA VALLEY DAYS IN THE MARKET BY CITY: In June in the Coachella Valley, Coachella had the lowest average selling time at just 37 days (down from 43 days at the end of June 2024). This was followed by La Quinta at 47 days (up from 44 days at the end of June 2024). Indio had the highest median selling time at 62 days (up from 53 days at the end of June 2024). 
JUNE COACHELLA VALLEY DAYS IN THE MARKET BY PRICE RANGE: In June in the Coachella Valley, the lowest average selling time was 47 days for homes priced between $900K and $999K (down from 45 days in June 2024). In June in the Coachella Valley, the highest average selling time was 69 days for homes priced under $300K (up from 44 days in June 2024). Market Watch stated that it was usual for selling times to increase with higher priced homes. However, Market Watch noted that this did not appear to be the case in the current Coachella Valley market, which Market Watch felt was a positive situation.
JUNE COACHELLA VALLEY REGIONAL DISCOUNT/PREMIUM FROM LIST PRICE: In June in the Coachella Valley, detached homes were selling at an average discount of 2.6% (compared to an average discount of 2.0% in June 2024). In June, attached homes were selling at an average discount of 3.2% (compared to an average discount of 2.7% in June 2024).
JUNE COACHELLA VALLEY AVERAGE SELLING PREMIUM/DISCOUNT BY CITY: In June, Coachella had the lowest average discount from list price at 0.0% (the same as in June 2024), while Palm Springs had the highest discount of -4.1% (compared to an average discount of 3.1% in June 2024).
JUNE COACHELLA VALLEY AVERAGE SELLING PREMIUM/DISCOUNT BY PRICE RANGE: In June in the Coachella Valley, the highest average discount from list price was 4.5% for homes priced under $300K (compared to an average discount of 3.4% in June 2024). In June, the lowest average discount from list price was 1.9% in both the $400K to $499K price range (compared to an average discount of 1.3% in June 2024) and for homes priced between $500K and $599K (compared to an average discount of 1.6% in June 2024). Market Watch noted that as a rule, price discounts increase with higher priced homes, and here in the Coachella Valley the lowest discounts seemed to be occurring in the mid-range price ranges.
JUNE COACHELLA VALLEY PERCENTAGE OF HOMES SELLING ABOVE LIST PRICE: In June in the Coachella Valley, the percentage of homes selling over list price was 11.0% (compared to 15% in June 2024). Market Watch noted that the percentage of homes selling above list price is now back to pre-pandemic levels.
THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Coldwell Banker Realty - DRE# 00616212