Coachella Valley Real Estate Snapshot
According to the California Desert Association of Realtors (CDAR), “the Coachella Valley real estate market is moving!” The August 2017 market statistics for the entire nine desert communities including the small numbers for the outlying areas Thermal and Mecca, for example, are up from last year during the same month. Closed sales were up by 14% as well as awaiting closing. Active home listings are down by 15% meaning that there was less inventory to sell. However, what is on the market is selling. The median house range is up by 6% compared to the same month. It’s important to note that what the summer was very busy for sales, countering the nothing that it’s a “summer slump.” Less competition in the real estate says it’s a great time to sell with a myriad of price points available.
· Coachella Valley’s median price range: $325,000
· Average days on market: 96 days
· Average price per square foot $223
· Month supply of housing inventory: 3.6
· Current number of homes on market: 3,387