Скачать или смотреть January 2024 Coachella Valley Residential Real Estate Market Update

Our local real estate market experts, Market Watch LLC, have just released their January 2024 Desert Housing Report. Some of the highlights:

PRICES:
• The median price of a detached home in the Coachella Valley in January was $660,000 (down 1.8% from $672,450 in January 2023).
• The median price of an attached home in the Coachella Valley in January was $475,000 (up 9.2% from $435,000 in January 2023).
• Year-over-year price changes for detached homes in the Coachella Valley in January ranged from a 9.0% increase in Indian Wells to a decrease of 11% in Bermuda Dunes.
• Year-over-year price changes for attached homes in the Coachella Valley in January ranged from a 16.6% increase in Indian Wells to a decrease of 7.3% in Bermuda Dunes.

SALES:
• Home sales in the Coachella Valley in January were 28.6% below normal (calculated from January home sales in 2016, 2017, 2018 & 2019).
• The three-month average of home sales in the Coachella Valley in January was 510 homes sold (up 17% from 436 homes sold in January 2023
• The Coachella Valley city with the largest year-over-year percentage increase in home sales in January was Rancho Mirage (up 37%), followed by Coachella (up 33%) and then La Quinta (up 28%).

INVENTORY & MONTHS OF SALES RATIOS:
• Coachella Valley home sale inventory on February 1st was 2,309 homes (up 14% from 2,025 homes on February 1st, 2023 but still roughly 1,000 homes under what’s considered normal for this time of year).
• On February 1st , the Coachella Valley’s months of sales ratio was 3.7 months (up 0.8 months from February 1st, 2023).

DAYS IN THE MARKET:
• At the end of January, the median number of days in the market in the Coachella Valley was 40 days (same as in January 2023).
• Coachella continued to have the lowest median selling time for detached homes at 26 days, followed
• by Desert Hot Springs at 30 days, then Indian Wells at 36 days.
• Indio had the shortest average selling time for attached homes at 23 days, followed by Desert Hot Springs at 35 days and Palm Springs at 39 days.

PRICE DISCOUNTS/PREMIUMS:
• In January, the percentage of homes in the Coachella Valley selling over list was 14.0% (compared to 13.5% in January 2023).
• In January, every Coachella Valley city had an average selling discount for detached homes, ranging from 1.4% in the City of Coachella to 4.8% in Bermuda Dunes.
• January selling discounts for attached homes ranged from 1.1% in Cathedral City to 5.3% in Bermuda Dunes.

For more details, please read our blog post at: https://www.desert-dreamhomes.com/blo...

THE BRIGGS GROUP | COLDWELL BANKER REALTY
Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Amy Baxa – DRE 02059963 | Coldwell Banker Realty - DRE# 00616212