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Real Estate Market Reports by Desert City

CHECK ON THE UPDATED MARKET REPORTS FOR THE FOLLOWING TOWNS

December 2020 Housing Report

As the charts show, prices for detached homes in the valley have been surging.
The median price in November for a detached home in the Valley was $510,000, on par with October.  All nine cities show year-over-year price gains in their median price for detached homes, avering 777 sales a month compared to 597 units this time last year.  Attached homes have been averaging 333 units a  month and are  up 67percent over a year ago.  The current ratio of 2.1 months of inventory is the lowest in the Valley in history and almost 50percent less than a year ago.  Demand currently far exceeds supply and is forecasting a continuation of higher prices  moving into 2021.
Note the growth rates in La Quinta, Palm Desert, Palm Springs and Indian Wells.  Note that the attached home market is primarily a remote owner market where the buyers do not live in the region but come in from outside.