The California Desert Association Of Realtors® (CDAR) recently released their November 2016 Coachella Valley Real Estate Market Statistics. Here are some of the highlights:

Single Family Residences - Attached and Detached

  •         For November 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $335,000, a decrease from the median sales price of $350,000 recorded in November 2015. For November 2016, there were 460 sales of single family residences (attached and detached) in the Coachella Valley, up significantly from 359 sales in November 2015.
  •         For November 2016, the active inventory of Single Family Attached and Detached Homes stood at 3,654, up from the inventory of Single Family Attached and Detached Homes of 3,614 properties in October 2016 and up from the inventory of 986 homes reported by CDAR in November 2015. At the November 2016 monthly sales rate for Single Family Attached and Detached Homes of 460 homes, this represents an inventory of roughly 7.9 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 November 2016 was $732,500, based on 11 sales, in Indian Wells (versus a November 2015 Coachella Valley high median sales price of $765,000, based on 11 sales, again in Indian Wells). The lowest median sale price for Single Family Attached and Detached Residences in November 2016 of $185,000 was recorded in Desert Hot Springs, based on 45 sales (versus a low median sale price of November 2015 of $167,000 again in Desert Hot Springs, based on 32 sales).

Condominiums - Attached and Detached

  •         For Condos Attached and Detached, the November 2016 median sales price in the Coachella Valley was $210,000, down from the $231,250 recorded in November 2015. For November 2016, there were 178 sales of condominiums, down slightly from 188 sales in November 2015.
  •        For November 2016, the active inventory of Condos Attached and Detached stood at 1,786, up slightly from the inventory of Condo Attached and Detached of 1,729 condos in October 2016 and up from the 481 condo inventory reported by CDAR in November 2015. At the November 2016 monthly sales rate for Condos Attached and Detached of 178 condos, this represents an inventory of roughly 10 months (again, 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 November 2016 was $384,000, based on 10 sales, in Indian Wells (versus a November 2015 Coachella Valley high median sales price of $420,000, based on 11 sales, in Indian Wells). The lowest median sale price for Condos Attached and Detached in November 2016 of $41,000 was recorded in Desert Hot Springs, based on 2 sales (versus a low median Condo sale price in November 2015 of $41,700, again in Desert Hot Springs and based on 4 sales).

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