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OPEN HOUSE: Extraordinary Views & Style Combined In This Completely Remodeled Palm Valley Country Club Golf Course Condo | WHEN: Sat. Aug. 31st from 11am to 1pm | WHERE: 38177 Crocus Lane, Palm Desert (Palm Valley Country Club)
From the moment you walk inside, you'll be impressed by the panoramic mountain, water and golf course views from the large south facing back patio. Open concept living with a fireplace and large windows to provide an abundance of natural light. With professional-grade stainless steel appliances, quartz countertops, floating light oak shelving in the kitchen, it is an entertainer's dream. The primary suite boasts a spa-like bathroom with a custom vanity, a large walk-in shower, and a showpiece free standing soaking tub, as well as direct access to a private courtyard patio. The private back patio off the Living Room and Kitchen wows with stunning views of the expansive Challenge Course second hole fairway. Upgrades include a built-in beverage bar with a wine cooler, recessed LED lighting, an indoor laundry room, a 2-car garage, ceiling fans, and back-lit defogging vanity mirrors. Palm Valley Country Club is a private resort community offering two Ted Robinson-designed 18-hole golf courses, a beautiful clubhouse with a restaurant and bar, 16 tennis courts, pickleball courts, a Jr. Olympic-sized lap pool and 46 community pools/spas and a spectacular full gym and spa with memberships available for an additional fee. Short-term rentals are allowed.
MLS# 219113887 | Listed at $ 699,000 | For more details, photos, floor plan & a virtual tour, please visit: http://viewlisting.info/121916.
THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs – DRE 01896117 | Tim Briggs – DRE 0898254 | Coldwell Banker – DRE 00616212
JULY COACHELLA VALLEY ATTACHED HOME MEDIAN PRICE: In July, the attached home median price in the Coachella Valley was $460,000 (up $10,000 or 2.2% from $450,000 in July 2023). Market Watch pointed out that the seasonal price variation for attached homes was much larger than for detached homes. They observed that attached home prices seemed to be following the normal seasonal pattern which should result in attached home prices remaining stable for the rest of the year.
JULY COACHELLA VALLEY MONTHLY HOME SALES – THREE MONTH AVERAGE: In July, the three-month average of Coachella Valley home sales was 642 home sales per month (down 70 home sales or 9.8% from an average of 712 home sales per month in July 2023). Because of the seasonality in Coachella Valley home sales data, Market Watch noted that it was difficult to determine where home sales stood on a historical basis. However, the Sales Recovery data shows that in July Coachella Valley home sales were 27.2% lower than pre-pandemic July historic norms.
JULY COACHELLA VALLEY MONTHLY HOME SALES - TWELVE MONTH AVERAGE: In July, the twelve-month average of Coachella Valley home sales was 608 home sales per month (roughly the same as in July 2023). Market Watch noted that for 15 months, long-term home sales have been hovering between 600 and 620 home sales per month. They went on to comment that although the inflation rate had declined, the Federal Reserve Board was reluctant to lower rates. They felt that the recent increase in unemployment might result in lower rates, which in turn would stimulate home sales.
JULY COACHELLA VALLEY HOMES SALES BY CITY: In July, home sales were lower year-over-year in all Coachella Valley cities other than Desert Hot Springs (with an average of 47 monthly home sales in both July and July 2023) and Bermuda Dunes (with an average of 12 home sales compared to an average of 9 home sales in July 2023). In July, Palm Desert had the highest average number of home sales at 141 (down 9% from 155 home sales in July 2023), followed by Palm Springs at an average of 120 home sales (down 17.2% from 145 home sales in July 2023).
JULY COACHELLA VALLEY HOME SALES BY PRICE RANGE: The largest part of the overall sales decline appears to be sales of homes priced between $400K to $599K. For homes priced between $400K and $499K, home sales decreased by 22.9% from 131 home sales per month in July 2023 to 101 home sales in July 2024. For homes priced between $500K and $599K, home sales decreased by 9% from 111 home sales per month in July 2023 to 101 home sales in July 2024. In most other price ranges, Market Watch noted that home sales were comparable sales to last year.
JULY COACHELLA VALLEY HOME SALES IN DOLLARS (ALL HOMES): Home sales in dollars in July were $519 million (down 9.6% from home sales of $574 million in July 2023). Market Watch noted that not surprisingly, home sales in dollars showed the same seasonal pattern as home sales by units.
JULY COACHELLA VALLEY HOME SALES IN DOLLARS BY CITY: In July in the Coachella Valley, the largest decrease in homes sales by dollar was in La Quinta and Palm Springs. Home sales by dollar in La Quinta decreased 20.7% from $135 million in July 2023 to $107 million in July 2024. Home sales by dollar in Palm Springs decreased 20.8% from $120 million in July 2023 to $95 million in July 2024. Market Watch felt that July home sales in dollars were comparable July 2023 in every other Coachella Valley city.
JULY COACHELLA VALLEY HOME SALES IN DOLLARS BY PRICE RANGE: July sales in the Coachella Valley for homes priced between $1 million and $1.999 million were $135 million (the same as in July 2023). July sales in the Coachella Valley for homes priced at or over $2 million were $102 million (down 16.7% from $122 million in July 2023). Market Watch noted that home sales in dollars in these two brackets now account for 50% of all home sales in dollars in the Coachella Valley.
AUGUST 1ST COACHELLA VALLEY HOME SALES INVENTORY: On August 1st, Coachella Valley home sales inventory was 2,266 homes (down 199 homes or 8.1% from 2,465 homes in June but up 496 homes or 28% from 1,770 homes on August 1st 2023). Market Watch noted that the normal seasonal pattern now suggested that inventory would continue to decline for another month, then begin the strong seasonal increase that usually starts in September. They further noted that while inventory has gradually improved, current numbers continue to be about 1,000 units below what was normal for this time of the year before the pandemic.
AUGUST 1ST COACHELLA VALLEY HOME SALES INVENTORY BY CITY: The highest home sales inventory was in Palm Springs with 548 homes for sale on August 1st (up 43% from 383 homes for sale on August 1st 2023). The lowest home sales inventory was in Coachella with 31 homes for sale on August 1st (up 6.9% from 29 homes for sale on August 1st, 2023). 
AUGUST 1ST COACHELLA VALLEY HOME SALES INVENTORY BY PRICE RANGE: The highest level of home sales inventory in July in the Coachella Valley was for homes priced between $1 million and $1.000 million were there were 396 homes for sale on August 1st (up 22.6% from 323 homes for sale on August 1st, 2023). The lowest inventory level in the Coachella Valley in July was for homes priced between $900K and $999K with 114 homes for sale on August 1s (up 62.8% from 70 homes for sale on August 1st, 2023). Market Watch noted that this data could be helpful in locating homes sales in those price ranges that might be responsible for the growth or contraction of overall home sales inventory.
AUGUST 1ST COACHELLA VALLEY OVERALL MONTHS OF SALES RATIO: On August 1st , the Coachella Valley’s overall or regional months of sales ratio was 3.7 months (up from 2.7 months on August 1st, 2023). Market Watch noted that this fundamental ratio, which measures supply and demand, is now back to pre-pandemic levels. They further noted that even though inventory is still relatively low, the low sales numbers have kept supply and demand in balance (a major reason why home prices have remained stable over the last twelve months). Market Watch felt that seasonal factors should lower this ratio even more over the next month or two.
AUGUST 1ST COACHELLA VALLEY MONTHS OF SALES RATIO BY CITY: Market Watch pointed out that months of sale ratios in July were mainly consistent between 3.0 and 4.0 months in the nine Coachella Valley cities surveyed. The highest months of sale ratio in July was in Palm Springs at 4.6 months (up from 2.6 months on August 1st, 2023). The lowest months of sale ratio in July was in Palm Desert at 3 months (up from 2 months on August 1st, 2023). Market Watch stated that since months of sales is really the supply-demand equation for housing, the July data showed that the housing market remained balanced.
AUGUST 1ST COACHELLA VALLEY MONTHS OF SALES RATIO BY PRICE RANGE: Market Watch felt that the year-over-year increases in months of sales ratios were similar across all price ranges. On August 1st, the highest months of sales ratio in the Coachella Valley was for homes priced over $2 million at 5.6 months (up from 4.3 months on August 1st, 2023). The lowest months of sales ratio was for homes priced from $300K to $399K and from $400K to $499K at 2.7 months (up from 1.5 months for the $300K-$399K price range on August 1st, 2023 and 1.8 months for homes priced from $400K to $499K on August 1st, 2023). Again, Market Watch felt that since months of sales is really the supply-demand equation for housing, these increases showed the supply side of the market is increasing in equal amounts in all price brackets.
JULY COACHELLA VALLEY OVERALL DAYS IN THE MARKET: Market Watch noted that the median selling time in the Coachella Valley had been stable for the last three months at around 47 days (compared to 39 days in July 2023). Market Watch continued to believe that the median selling time in the Coachella Valley would remain around current levels continuing into the fall.
JULY COACHELLA VALLEY DAYS IN THE MARKET BY CITY: In July, Coachella continued to have the lowest average selling time at 18 days (down from 32 days in July 2023), followed by Cathedral City at 37 days (up from 17 days in July 2023) and Desert Hot Springs at 39 days (up from 36 days in July 2023). In July, Indian Wells had the highest average selling time at 57 days (up from 38 days in July 2023).
JULY COACHELLA VALLEY DAYS IN THE MARKET BY PRICE RANGE: In July, the lowest average selling time was for homes priced between $400K and $499K at 41 days (up from 38 days in July 2023). In July, the highest average selling time was for homes priced at or above $2 million at 53 days (up from 37 days in July 2023).
JULY COACHELLA VALLEY OVERALL SALES PRICE PREMIUM/DISCOUNT: At the end of July in the Coachella Valley, detached homes were selling at an average discount of 2.0% (the same as last month but up slightly from 1.9% at the end of July 2023). At the end of July, attached homes were selling at an average discount of 2.7% (up from 2.2% at the end of July 2023). Market Watch noted that sale price premiums/discounts were now back in line with pre-covid levels.
JULY COACHELLA VALLEY PRICE PREMIUM/DISCOUNT BY CITY: In July, Coachella was the only Coachella Valley city with homes selling at a premium (with an average premium of 0.4%). Bermuda Dunes had the largest average discount of 4.2%.
JULY COACHELLA VALLEY PRICE PREMIUM/DISCOUNT BY PRICE RANGE: In July in the Coachella Valley, the largest average price discount at 4.7% was for homes priced at or above $2 million (up from 3.3% in July 2023). The lowest average price discount at 1.3% was for homes priced between $400K and $499K. Market Watch noted that as a rule, price discounts increase with higher priced homes.
JULY COACHELLA VALLEY PERCENTAGE OF HOMES SELLING ABOVE LIST PRICE: In July in the Coachella Valley, the percentage of homes selling over list price was 14.8% (down from 17.7% in July 2023). Market Watch continued to expect the number of homes selling above list price to remain about one out of seven or 14.3%.
COACHELLA VALLEY JUNE SALES RECOVERY: This data shows where current Coachella Valley home sales were in June, relative to historic norms (where historic norms are calculated from Coachella Valley home sales over the 4 years from 2016 through 2019). Coachella Valley home sales in June were 23.6% below historic normal June home sales (up from homes sales 34.8% below historic norms in June 2023). Market Watch pointed out that Coachella Valley home sales have been declining over the last three months. They noted that they had hoped that Coachella Valley home sales would be in recovery by now, but they appear to be in decline. They were hopeful that the Federal Reserve would engineer an interest rate cut soon, which would stimulate buyers.
COACHELLA VALLEY JUNE MEDIAN DETACHED HOME PRICE: The median price of a detached home in the Coachella Valley in June was $695,000, after reaching an all-time high $724,523 in April of this year. On a year-over-year basis, the median detached home price was up 0.7% from $690,000 in June 2023. Market Watch commented that Coachella Valley home prices usually peak in May or June due to seasonal patterns and it appeared that this pattern was repeating itself this year. They further noted that with inventory rising and sales beginning to contract, they thought that supply and demand was starting to favor buyers.
COACHELLA VALLEY JUNE MEDIAN ATTACHED HOME PRICE: The median price of an attached home in the Coachella Valley in June was $475,000 (the same as in June 2023). Market Watch pointed out that the seasonal variance in prices for attached homes was much larger than for detached homes and that attached home prices seemed to be following the normal seasonal pattern.
JUNE YEAR-OVER-YEAR CHANGE IN THE PRICE OF THE AVERAGE SIZE COACHELLA VALLEY HOME BY CITY: In June, year-over-year price changes for the average size Coachella Valley detached home by city ranged from an increase of 19.6% for the 1,700 sq ft average size detached home in Coachella to a decrease of 11.5% for the 2,200 sq ft average size detached home in Bermuda Dunes. Year-over-year price changes for the average size Coachella Valley attached home by city ranged from an increase of 19.4% for the 1,450 sq ft average size attached home in Bermuda Dunes to a decrease of 7.0% for the 750 sq ft average size attached home in Desert Hot Springs.
COACHELLA VALLEY JUNE MONTHLY HOME SALES - THREE MONTH AVERAGE: In June, Coachella Valley home sales averaged 739 sales per month (down 7.4% from monthly home sales of 798 in June 2023). Market Watch noted that because of seasonality in Coachella Valley home sales, it's difficult to determine where home sales stand on a historical basis. The Sales Recovery data above was designed to help distinguish seasonal home sales changes from real ones. In June, it showed that Coachella Valley home sales had been decreasing against past norms and were now 23.6% below pre-pandemic norms.
COACHELLA VALLEY JUNE MONTHLY HOME SALES – TWELVE MONTH AVEAGE: In June, the 12-month average of Coachella Valley home sales, which removes seasonality from the data, was 617 sales per month (effectively the same as in June 2023). Market Watch noted that for 15 months, long-term Coachella Valley home sales have been hovering between 600 and 620 home sales per month. They went on to state that although the inflation rate has declined, the Federal Reserve Board seemed reluctant to lower interest rates until the evidence is stronger that inflation would remain low. They hope that will be soon be the case since lower interest rates should stimulate home sales.
COACHELLA VALLEY JUNE HOME SALES IN DOLLARS: In June, Coachella Valley monthly home sales in dollars averaged $634 million (down 9.6% from average monthly home sales of $701 million in June 2023).
COACHELLA VALLEY JUNE HOME SALES IN DOLLARS BY CITY: In June, Palm Springs had the highest average monthly home sales in dollars at $134 million (the same as in June 2023), followed by La Quinta with average monthly home sales by dollar of $131 million (down 25.1% from $175 million in June 2023). In June, three Coachella Valley cities (Indian Wells, Indio and Bermuda Dunes) had higher home sales in dollars than in June 2023. Average monthly home sales in dollars in most of the other Coachella Valley cities were comparable to average monthly home sales in dollars in June 2023
COACHELLA VALLEY JUNE HOME SALES IN DOLLARS BY PRICE RANGE: In June, home sales in dollars increased year-over-year in the $500K-$599K, $600K-$699K, $800K-$899K and $1M-$1.999M price ranges. Market Watch pointed out that average monthly home sales in the $1M-$1.999M and at or above $2M prices ranges accounted for roughly 50% of all dollar sales in the Coachella Valley.
COACHELLA VALLEY JULY 1ST TOTAL HOME SALES INVENTORY: On July 1st, the Coachella Valley home sales inventory was 2,464 homes (down 5.6% from 2,610 homes on June 1st but up 39.2% from 1,770 homes on July 1st, 2023). Market Watch stated that the usual seasonal pattern now suggested that inventory would continue to decline entering the summer months. They further noted that while inventory had gradually improved, the current level continued to be about 1,000 units below pre-pandemic norms for this time of year.
COACHELLA VALLEY JULY 1ST HOME SALES INVENTORY BY CITY: On July 1st, the largest home sales inventory was 625 homes in Palm Springs (up 47.1% from 425 homes on July 1st, 2023) followed by Palm Desert at 480 homes (up 56.4% from 307 homes on July 1st, 2023). Market Watch noted that this data helps agents know what cities have homeowners with the greatest selling interest compared to last year.
COACHELLA VALLEY JULY 1ST HOME SALES INVENTORY BY PRICE RANGE: On July 1st, Coachella Valley home inventory was up in every price range. Market Watch noted that this data helps locate what price brackets might be responsible for the growth or contraction of inventory.
COACHELLA VALLEY JULY 1ST REGIONAL MONTHS OF SALES RATIO: On July 1st, the Coachella Valley’s months of sales ratio was 4.0 months (up 1.1 months from 2.9 months on July 1st, 2023). Market Watch noted that this fundamental ratio, which measures supply and demand, is now back to pre-pandemic levels. They added that even though inventory was still relatively low, the low sales numbers have kept supply and demand in balance, which was one major reason that home prices had remained stable over the last twelve months. Lastly, they felt that seasonal factors should help lower this ratio over the next few months.
COACHELLA VALLEY JULY 1ST MONTHS OF SALES RATIO BY CITY: On July 1st, months of sales ratios by city varied from a low of 2.5 months in Indian Wells to a high of 4.1 months in Palm Springs. Market Watch stated that since months of sales is really the supply-demand equation for housing, it showed the Coachella Valley housing market remained balanced.
COACHELLA VALLEY JULY 1ST MONTHS OF SALES RATIO BY PRICE RANGE: On July 1st, months of sales ratios by price range varied from a low of 2.5 months for homes priced in the $400K-$499K range to a high of 5 months for homes price at or above $2M. Market Watch noted that they continued to see similar increases in year over year months of sales ratios in all price ranges. Once again they added that since months of sales is really the supply-demand equation for housing, this increase shows the supply side of the market is broadly increasing but is not yet are worrisome levels.
COACHELLA VALLEY JUNE REGIONAL DAYS IN THE MARKET: At the end of June, the median number of days in the market in the Coachella Valley was 45 days (the same as last month but 7 days more than the 38 days in June 2023). Market Watch stated that they continued to believe the median selling time would remain around current levels continuing into the second half of the year.
COACHELLA VALLEY JUNE DAYS IN THE MARKET BY CITY: In June, Coachella continued to have the lowest average selling time at 18 days (down from 33 days in June 2023), followed by Cathedral City at 30 days (up from 27 days in June 2023) and Desert Hot Springs at 43 days (up from 34 days in June 2023). In June, La Quinta had the highest, average selling time at 53 days (up from 38 days in June 2023).
COACHELLA VALLEY JUNE REGIONAL PRICE PREMIUM/DISCOUNT: In June, detached homes in the Coachella Valley were selling at an average discount of 2.0% while attached homes were selling at an average discount of 2.6%. Market Watch stated that these current discounts remain in line with the pre-covid averages.
COACHELLA VALLEY JUNE PRICE DISCOUNT BY CITY: In June, Coachella was the only Coachella Valley city where homes were selling at an average premium (0.1% compared to a discount of 0.1% in June 2023). Bermuda Dunes had the largest average selling price discount at 4.2% (compared to an average discount of 1.7% in June 2023).
COACHELLA VALLEY JUNE PRICE DISCOUNT BY PRICE RANGE: In June, the average price discount by price range ranged from a low of 1.3% for homes priced between $400K-$499K to a high of 4% for homes priced at or above $2M. Market Watch noted that as a rule, the average price discount increases with higher priced homes.
COACHELLA VALLEY JUNE PERCENTAGE OF HOME SELLING ABOVE LIST PRICE: In June, the percentage of homes sold in the Coachella Valley above list price was 14.8% (compared to 17.9% in June 2023). Market Watch stated that they continued to expect the number of homes in the Coachella Valley selling above list price to remain at approximately one out of seven (or 14.3%).