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Real Estate Market Reports by Desert City

CHECK ON THE UPDATED MARKET REPORTS FOR THE FOLLOWING TOWNS

February 2021 Housing Report

As we close out 2020 and reflect on the real estate market, the Housing Market continues to expand into 2021, 1 out of every 4 homes sold over their asking price in 2020.  The median priced detached home in the Valley was $520,000 for 2020 and the median priced home for an attached property was $329,000 for 2020.  Check out the growth in Palm Desert and La Quinta in 2020, with all Nine Desert Cities showing year-over-year price gains  This is happening while our inventory has dropped to 50% less than a year ago or approximately a 3 month supply.
 

The Market and Housing reports for December 2020 are attached below for the Palm Springs area and surrounding Cities. They provide an excellent guide as to the growth the Valley is currently experiencing, even with the election. 

The December median price for a single family home in the Coachella Valley is 520,000, up 28% from this time last year.  The median price for an attached home is $329, 000,  up 13% from this time last year.  Note the growth in the Palm Springs, Palm Desert, Rancho Mirage and La Quinta areas, with all nine desert cities experiencing a year-over-year growth.  

The inventory is 50% less than this time last year across the Valley, before the pandemic.  Also attached is the COVID Market Report showing how the cities have changed with the restriction and both buyers and sellers have had to adjust accordingly.