The Desert Sun’s Amy DiPierro writes that the September Coachella Valley median home price (single family residences and condos) was $320,000 (up 6.7% year-over-year), according to real estate research firm CoreLogic DataQuick. A total of 755 homes were sold in September (down 9.9% from a year ago).

On a price-per-square foot basis, the Coachella Valley median price was $181 per square foot, with median prices as low as $127 per square foot in Desert Hot Springs 92240 ZIP code and as high as $240 per square foot in Indian Wells.

In September, the California Desert Association of Realtors® (CDAR) counted 2,795 houses and 1,151 condos on the market in the Coachella Valley, slightly lower than September 2016. Amy notes that the number of homes on the market so far has declined every month in 2017.

For comparison purposes, after hitting its highest level in a decade in August, the California statewide median home price slipped to $555,410 in September. The number of home sales increased by 1.7% from September 2016. The California Associations of Realtors® predicts that the statewide median home prices will rise 4.2% to $561,000 next year and statewide home sales will increase by up to 1%.

 September 2017 Desert Home Sales At A Glance:

  • Total sales: 755 (down 9.9% from September 2016)
  • New construction sales: 25 (down 45.7% year-over-year)
  • Resale single-family homes: 516 (down 8.7% year-over-year)
  • Resale condos: 214 (up 5.7% year-over-year)
  • Median sale price: $320,000 (up 6.7% year-over-year)
  • Median price per square foot: $181 (up 7.3% year-over-year)

Source: CoreLogic DataQuick

To read Amy DiPierro’s original article, courtesy of The Desert Sun, please visit: No September slump here. Desert home prices rose again last month