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

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

PRICES:
• The detached home median price in the Coachella Valley in April was $724,523 (up 6.6% from $679,900 in April 2023).
• The attached home median price in the Coachella Valley in April was $500,000 (up 4.2% from $480,000 in April 2023).
• Year-over-year price changes for detached homes in the Coachella Valley in April by city, ranged from an 18.2% increase in Indian Wells to a decrease of 4.2% in Desert Hot Springs.
• Year-over-year price changes for attached homes in the Coachella Valley in April by city, ranged from a 7.6% increase in Indio to a decrease of 11.4% in Indian Wells.

SALES:
• Coachella Valley April home sales were 19.8% below pre-pandemic normal (i.e., Average April home sales in 2016, 2017, 2018 & 2019).
• The Coachella Valley April three-month average of total home sales was 716 homes (up from 704 homes sold in April 2023).
• In April, Coachella Valley home sales averaged $669 million (up 10.8% from monthly sales of $604 million in April 2023).

INVENTORY & MONTHS OF SALES RATIOS:
• Coachella Valley home sale inventory on May 1st was 2,597 homes (up 36.6% from 1,901 homes on May 1st, 2023 and the highest in almost 4 year, but still roughly 1,000 homes below historic norms for this time of year).
• On May 1st, the highest inventory levels by city were in Palm Springs (630 homes), Palm Desert (539 homes) and La Quinta (364 homes).
• On May 1st, there were 472 homes priced between $1 million and $1.999 million for sale and 269 homes priced at or above $2 million.
• On May 1st, the Coachella Valley’s months of sales ratio was 4.2 months (up from 3 months on May 1st, 2023).
• On May 1st, months of sales ratios by city ranged from 2.2 months in Indian Wells to 4.3 months in Indio.
• On May 1st, months of sales ratios by price range ranged from 2.7 months for homes priced between $400k to 499k to 5.3 months for homes priced at or above $2 million.

DAYS IN THE MARKET:
• At the end of April, the median number of days in the market in the Coachella Valley was 44 days (up slightly from 43 days at the end of April 2023).
• In April, Coachella continued to have the shortest median selling time at 27 days, followed by Palm Springs at 40 days then Indian Wells at 41 days.
• In April, the shortest median selling time was 37 days for homes priced between $400k to $499k. Homes priced between $700k to $799k had the longest median selling time at 50 days.

PRICE DISCOUNTS/PREMIUMS:
• In April, Coachella Valley homes were selling at average discounts from list price of 2.3% for detached homes to 2.6% for attached homes.
• In April, average selling discounts by city for Coachella Valley detached homes ranged from 0.4% in Desert Hot Springs to 3.8% in both Rancho Mirage and Bermuda Dunes.
• In April, the lowest average discount from list by price range in Coachella Valley homes sold was 1.6% for homes priced between $400k and $499k. The highest average discount was 3.8% for homes priced at or above $2 million.
• In April, the percentage of homes in the Coachella Valley selling over list was 14.8% (down slightly from 15.1% in April 2023).

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