According to this article from The Desert Sun, data from real estate research firm, CoreLogic DataQuick, shows Coachella Valley home sales wrapped up a strong summer in August, when 767 desert homes changed hands.  Some of the highlights:

  • More homes sold in the Coachella Valley in June, July and August 2015 compared to the same months in 2014. Year-over-year, sales have increased in four of the last five months;
  • At the same time, year-over-year Coachella Valley home prices fell. In August, the median price for a home slipped to $275,000, its lowest level all year and slightly lower than August 2014. New homes fetched a median price of $338,000, their second-lowest price this year and down 1 percent from a year ago. There is now around 5.4 months of inventory on the market, up from earlier this year when low inventory pushed prices upward;
  • Resale single-family homes sold for a median price of $297,000, on par with August 2014. Condos prices are down 2.7 percent from a year ago to a median of $219,000;
  • For Riverside County, 3,378 homes sold in August, up 8.9 percent from a year ago. Riverside County’s median price was $299,000, down 5.4 percent from a year ago;
  • For Southern California, sales numbers dropped slightly from July to August — though June and July were their strongest months since 2006. Sales have risen year-over-year every month since February, according to CoreLogic DataQuick. The median home price for a Southern California home in August was $438,000. Year-over-year median sales prices have now climbed every month for three and a half years;
  • The desert’s cheapest homes in August were in Desert Hot Springs, where they sold for a median price of $164,750, or just $106 per square foot; and
  • The most expensive purchases came in Indian Wells, where homes sold for a median price of $633,500, or $26 per square foot.

Please use the following link to read Rosalie Murphy’s article, courtesy of The Desert Sun: