In Today’s Home Market, Patience and Preparation Can Reap Big Rewards
Average Sold Prices in Coachella Valley increased across the board in May 2019 compared to May 2018.
The Number of Homes Pended (indication of potential future sales), were also up in every price category, and homes priced under $1M, sold faster (fewer Days on Market), in May 2019 than May 2018.
Mid-Range Home Prices Increased
The downside for May 2019, was that like bookends, the Number of Homes Sold decreased at both, lower and higher-priced ends of the market, while homes priced $500k to $999,999, increased by 3%.
Cities By the Numbers
- Number of Homes Sold: May 2019 home sales increased in 3 cities: Cathedral City (+12%), Palm Desert (+9%), Indio (+1%) and, decreased in 5 major cities: Bermuda Dunes (-35%), Indian Wells (-35%), La Quinta (-25%), and Rancho Mirage (-11%).
- Pending Home Sales: Strong gains in half the Valley’s cities: Indian Wells (+32%), Palm Springs (+24%), Cathedral City (+19%), Palm Desert (+12%). Bermuda Dunes, La Quinta, Indio, decreased by double digit percentages.
- Average Home Sold Price: Home prices were up in 6 of 8 cities. Indian Wells (+47%), La Quinta (+19%) were on fire, while Indio, Palm Desert, and Cathedral City posted impressive price gains of nearly 10%.
- Number of Homes for Sale: Compared to last May, the inventory of homes is split evenly between CV’s 8 major cities. Inventory increased the most in the cities of Indio (15% ).
NEW LISTING: TRILOGY AT LA QUINTA, 81268 CAMBRIA CT, Maurea Model, 2BR, 2BA.
One-of-a-Kind Sanctuary. Serenity and tranquility are hallmarks of this bright, lovely home. Stunning views from every room. Against a backdrop of towering mountains, the home is enveloped in vibrant flowers and trees, prickly cacti, mini palms, a rock waterfall and flowing stream.
Built in 2009, it features Solar panels, He appliances, Low E windows, for cool, comfort, and low energy bills. Walking distance to the Santa Rosa Clubhouse, entertainment, and sports complex. It’s a Must See! Priced at $349,998
Click here to view listing photos, details. For a private showing call Donna 760-289-4276
MAY/JUNE 2019 Trendvision® Reports were used to calculate this report and were based on data available at the end of APRIL/MAY 2019. All reports presented are based on data supplied by the Desert Area MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association of its MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.