FOR MORE INFO VISIT www.CoachellaValleyInvestor.com
We can help liquidate unwanted inventory for CASH and AS-IS but also also happy to help you on the retail Market.
Talk soon!
Marius C. Olbrych
DRE 02101685
In April, the median price of detached homes in Coachella Valley reached a record $724,523, up 6.6% year-over-year, while attached homes rose to $500,000, up 4.2%. Price changes varied, with detached homes in Indian Wells increasing by 18.2% and declining by 4.2% in Desert Hot Springs. Attached home prices rose 7.6% in Indio but fell 11.4% in Indian Wells.
Sales slightly increased to 716 units per month from 704 last year, 19.8% below normal. Dollar sales were $669 million, up 11% year-over-year, with significant activity in homes over $1,000,000.
Inventory reached 2,597 units, the highest in four years but still about 1,000 units below pre-pandemic levels. The "months of sales" ratio was 4.2 months. The median "days in the market" was 44 days, with Coachella at 27 days and Bermuda Dunes at 54 days.
Average selling discounts were 2.3% for detached and 2.6% for attached homes. The lowest discount was 0.4% in Desert Hot Springs and the highest was 3.8% in Rancho Mirage and Bermuda Dunes. One out of seven homes sold for a premium.
