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

Single Family Residences - Attached and Detached

For May 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $359,450, up from $340,000 in May 2015. For May 2016, there were 610 sales of single family residences (attached and detached) in the Coachella Valley, up from 587 sales in May 2015.

For May 2016, the active inventory of Single Family Attached and Detached Homes stood at 3,990 properties.  There were no inventory statistics available for May 2015.  At the May 2016 sales rate for Single Family Attached and Detached Homes of 610 homes, this represents an inventory of 6.54 months (where any inventory level of around 6 months typically indicates a balanced market, and inventory levels significantly above this can indicate a trend towards a buyer’s market).

The highest median sales price by city in the Coachella Valley for Single Family Attached and Detached Residences in May 2016 was $740,000, based on 29 sales, in Indian Wells (versus a May 2015 Coachella Valley high median sales price of $700,000, based on 36 sales, in Rancho Mirage).

Condominiums - Attached and Detached

For Condos Attached and Detached, the May 2016 median sales price in the Coachella Valley was $241,000, down from $250,000 in May 2015. For May 2016, there were 276 sales of condominiums, up from 266 in May 2015.

For May 2016, the active inventory of Condos Attached and Detached was 1,866. There were no inventory statistics available for May 2015. At the May 2016 sales rate for Condos Attached and Detached of 276 condos, this represents an inventory of 6.76 months (where any inventory level of around 6 months typically indicates a balanced market, and inventory levels significantly above this can indicate a trend towards a buyer’s market). 

The highest median sales price by city in the Coachella Valley for Condos Attached and Detached in May 2016 was $360,000, based on 9 sales, in Indian Wells (versus a May 2015 Coachella Valley high median sales price of $377,500, based on 6 sales, also in Indian Wells).

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