Do you want content like this delivered to your inbox?

Coachella Valley Housing Market Update: Prices Up, Sales Steady, Inventory Rising


Coachella Valley Market Report April 2024

Paul Kaplan

I've made it a professional goal to be known as a leader in the Real Estate industry in the Palm Springs market for the past 20+ years...

I've made it a professional goal to be known as a leader in the Real Estate industry in the Palm Springs market for the past 20+ years...

May 9 3 minutes read

Looking to buy or sell a home in the Coachella Valley? Here's a quick breakdown of the latest housing market report, courtesy of The Paul Kaplan Group, your trusted Palm Springs real estate experts. 

Here's a quick breakdown of the latest Coachella Valley housing market report:

  • Prices: Hit a record high! Median price for detached homes reached $724,523 (up 6.6% year-over-year). Attached homes also saw a price increase of 4.2% to $500,000.
  • Sales: Holding steady, with three-month sales slightly exceeding last year (716 vs 704 units). However, sales are still below usual levels. High-end homes (over $1 million) are seeing the biggest sales increase.
  • Inventory:  Increasing, but still below pre-pandemic levels. Currently, there are 2,597 units available, which is higher than the past few years but still around 1,000 units less than normal.
  • Time on Market:  Slightly longer than last year at 44 days (average for both detached and attached homes). Coachella remains the fastest-selling city (27 days), while Bermuda Dunes has the longest average selling time (54 days).
  • Negotiations:  Slight buyer advantage.  Detached and attached homes are selling at an average discount of 2.3% and 2.6% respectively. However, there's a growing trend of homes selling above asking price (around 1 in 7).

Overall, the Coachella Valley housing market remains strong with rising prices, stable sales, and increasing inventory. While there's a slight buyer advantage in negotiations, the market is well-balanced across most price ranges.

The Paul Kaplan Group: Your Coachella Valley Real Estate Partner

The Coachella Valley housing market is dynamic and ever-changing. Whether you're a seasoned investor or a first-time homebuyer, navigating this market requires a skilled and knowledgeable real estate partner. The Paul Kaplan Group, a leading real estate team in Palm Springs, offers unparalleled expertise and local market insights to help you achieve your real estate goals.

Contact The Paul Kaplan Group today for a free consultation! We'll guide you through the current market trends, advise you on pricing strategies, and help you find your dream home in the heart of the Coachella Valley.

Search for Palm Springs Homes

#PalmSpringsRealEstate #CoachellaValleyMarket #RealEstateInsights #ThePaulKaplanGroup

Produced for Valley agents through the sponsorship and cooperation of GPSR and CDAR by Market Watch LLC ©2022 CDAR & GPSR. All rights reserved. Use and distribution by members only.

Selling Your Home? 

Get your home's value - our custom reports include accurate and up to date information.

Get Home Value
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info