The California Desert Association Of Realtors® (CDAR) has just released their March 2016 Coachella Valley Real Estate Market Statistics.  As a brief summary:

Single Family Residences - Attached and Detached

For March 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $350,000, up slightly from $346,500 in March 2015. For March 2016, there were 593 sales of single family residences (attached and detached) in the Coachella Valley, down slightly from 610 sales in March 2015.

For March 2016, the active inventory of Single Family Attached and Detached Homes had swollen to 4,418, versus 3,057 in March 2015.  At the March 2016 sales rate for Single Family Attached and Detached Homes of 593 homes, this represents an inventory of 7.45 months (where any inventory level of around 6 months typically indicates a balanced market). These inventory numbers seem to indicate that the 11.5 months of active inventory of single family attached and detached homes in February 2016 was an aberration.

The highest median sales price by city in the Coachella Valley for Single Family Attached and Detached Residences in March 2016 was $720,000, based on 43 sales, in Rancho Mirage (versus a March 2015 Coachella Valley high median sales price of $700,000, based on 43 sales, again in Rancho Mirage).

Condominiums - Attached and Detached

For Condos Attached and Detached, the March 2016 median sales price in the Coachella Valley was $240,000, down from $258,700 in March 2015. For March 2016, there were 281 sales of condominiums, up from 236 in March 2015.

For March 2016, the active inventory of Condos Attached and Detached was 2,049, versus 1,372 in March 2015.  At the March 2016 sales rate for Condos Attached and Detached of 281 condos, this represents an inventory of 7.29 months (where any inventory level of around 6 months typically indicates a balanced market).  Again, these inventory numbers seem to indicate that the 13.4 months of active inventory of condos attached and detached in February 2016 was an aberration.

The highest median sales price by city in the Coachella Valley for Condos Attached and Detached in March 2016 was $425,000, based on 11 sales, in Indian Wells (versus a March 2015 Coachella Valley high median sales price of $399,900, based on 15 sales, in La Quinta).

For a city-by-city summary of March 2016 home and condo sales activity, please see the chart below: