The California Desert Association Of Realtors® (CDAR) recently released their October 2016 Coachella Valley Real Estate Market Statistics. Some of the highlights include:

Single Family Residences - Attached and Detached

  •         For October 2016, the median sales price for Single Family Attached and Detached residences in the Coachella Valley was $335,000, an increase from the median sales price of $320,000 recorded in October 2015. For October 2016, there were 479 sales of single family residences (attached and detached) in the Coachella Valley, up from 462 sales in October 2015.
  •         For October 2016, the active inventory of Single Family Attached and Detached Homes stood at 3,614, up from the inventory of Single Family Attached and Detached Homes of 2,854 properties in September 2016 and up from the inventory of 1,080 homes reported by CDAR in October 2015. At the October 2016 monthly sales rate for Single Family Attached and Detached Homes of 479 homes, this represents an inventory of roughly 7.5 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 October 2016 was $750,000, based on 18 sales, in Indian Wells (versus an October 2015 Coachella Valley high median sales price of $660,000, based on 11 sales, again in Indian Wells). The lowest median sale price for Single Family Attached and Detached Residences in October 2016 of $187,000 was recorded in Desert Hot Springs, based on 52 sales (versus a low median sale price of October 2015 of $164,850 again in Desert Hot Springs, based on 40 sales).

 B.  Condominiums - Attached and Detached

  •         For Condos Attached and Detached, the October 2016 median sales price in the Coachella Valley was $218,500, down slightly from the $224,750 recorded in October 2015. For October 2016, there were 190 sales of condominiums, up from 178 sales in October 2015.
  •        For October 2016, the active inventory of Condos Attached and Detached stood at 1,729, up from the inventory of Condo Attached and Detached of 1,149 condos in September 2016 and up from the 443 condo inventory reported by CDAR in October 2015. At the October 2016 monthly sales rate for Condos Attached and Detached of 190 condos, this represents an inventory of roughly 9.1 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 October 2016 was $423,500, based on 4 sales, in Indian Wells (versus an October 2015 Coachella Valley high median sales price of $320,000, based on 5 sales, in Indian Wells). The lowest median sale price for Condos Attached and Detached in October 2016 of $38,000 was recorded in Desert Hot Springs, based on 5 sales (versus a low median Condo sale price in October 2015 of $35,000, again in Desert Hot Springs and based on 1 sale).

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