Market Reports

Real Estate Cities that lead the way in high risk buying and selling

Real Estate Prices:  5 Cities being hit the hardest.  I’m always reading these articles to keep a finger on the pulse.  At this time, they are pretty much all saying the same areas are being hit the hardest with high inventories, long days on the market, and multiple price reductions to even get offers.  Real Estate Prices here in the Coachella Valley have definitely been re setting and my short sales are increasing, but there are still plenty of sales!  Local resident and agent, Kim Kelly 760-285-3578.

Real Estate Prices; 5 cities hardest hit

1.  Key West, Florida:  Florida in general currently accounts for 36 percent of all locations that are struggling to sell properties.  Homes in Key West have the highest number of days on the market at 105, and out of 1346 listings, 224 had to be reduced.

2.  Rockport, Texas:  The state of Texas always comes in equal to or very near Florida in being hardest hit.  The coastal town of Rockport has a medium list price of $425,000 and many are being reduced and still sitting.

3.  Port Lavaca, Texas is tied with Forrest City, Arkansas:  Sitting at third in median days on market at 103, Port Lavaca is losing populations and is now approx 11,000 people with a median property value of $353,000.  Forrest City has a population of approx 12,000 but a much lower median value of $139,000.

4.  Naples-Marco Island, Florida:  Yep, back to Florida!  Population of approx 376,000, an average list price of $750,000.  Tons of listings right now and 17% of them have had price reductions.

5.   Rio Grande City and Bay City, Texas:  And surprise, surprise..back in Texas for #5.  These two cities in Texas are tied at days on the market although Rio Grande City is a bit cheaper at a median list price of $230,000.  Bay City has a median list price of $325,000.

Coachella Valley city sales are helped with beautiful finishes!

Coachella Valley City Sales:  Our desert city sales varied greatly for the month of July, compared to last year.  Inventory has dropped for most of our desert cities, but that’s very normal for July/August..it’s HOT!  I always tell my sellers that if they are really serious about selling, go ahead and list.  Buyers that brave our desert heat at it’s peak are probably really serious!  Local valley resident for 40 years and coachella valley realtor for 26, call Kim Kelly if you are looking to buy, sell or short sale your property at 760-285-3578.

The open spaces and large lots often seen in the Coachella Valley are remarkable.

Coachella Valley Market update:  If you didn’t already know it, the local market has slowed down.  Residential properties are still selling, land is still selling and commercial properties are still selling, but it’s really slow.  Much slower than the normal summer lull.  We here in the Coachella Valley are not unique.  After reading about the general slowing down in the entire Riverside County, it seems buyers are slow to write and sellers are stubbornly optimistic about their properties selling!  If you are looking to buy or sell in the Coachella Valley, give Kim Kelly a call at 760-285-3578.

The past two weeks have seen the inventory of homes in the Coachella Valley fall by 81 homes (3%) to 2,997 homes.  This is the lowest level of listed homes since last October.  Coachella Valley demand has also decreased.  By 22 pending sales (4%) from 524 to 502 pending sales.  That’s the lowest since the start of 2026.  Demand is falling at a faster pace than supply!  The expected market time for Coachella Valley rose from 176 to 179 days, slowing by 3 days over the past couple of weeks.

Year over year, the Coachella valley inventory is down by 154 homes which is 5%.  Demand is down 68 pending sales which is 12%.  The expected market time last year was 166 days, almost 2 weeks less than right now.

The median sales price in June of this year was $577,000, down 2% from May.  median price in June of 2025, just one year ago was $610,000, about 6% more than today!  The word median means half above that number and half below that number, so locally for us agents showing daily, the median doesn’t mean all that much.  I personally like to only compare sales prices to come up with an offer number from WITHIN the actual community or communities very similar to the actual property.

I think the point of these stats is that buyers have MORE power and sellers have LESS, for the most part..there are always exceptions!  Take a tour of this amazing 35 acre farm in Coachella. 

Coachella valley market update

Coachella valley real estate market:  Buyers are still active, and the inventory is low, so both buyers and sellers can get their property IF they are reasonable and the price is right!  Local agent and resident, Kim Kelly 760-285-3578.

Through our Coachella Valley, a total of 570 single family homes have been sold since this time last year, that’s an increase over last year.  Homes take longer to sell, averaging 75 days on the market, which is a bit slower than last year.

The median price is $675,000 which is down about 7%, which gives buyers more negotiating power, but also slowing the pace of appreciation.   Remember that the median price means the number that half of the homes sell above and half sell below.

Sellers who priced correctly received 95% of their list price, but only 28% of homes sold over ask.  Price/sf dipped to $347/sf, about a 2% drop.

Inventory dropped alot..about 22% to approx 2,697 homes actively listed for sale.

There are approx. 6 months of housing supply which is down approx 25% which indicates a more stable market.

What this means for SELLERS is that if priced right, you will sell your property.  Condos are still selling well and demand is strong.  Priced right, your condo will sell.  For BUYERS, you have breathing room in single family homes, while condos are selling quicker so don’t mess around too much with the price! The house below is in La Cantera, La Quinta.  I listed and sold this in just over 30 days.  There are several homes available in this community today, so if you’re looking to buy or sell in the Coachella Valley, give me a call at 760-285-3578. 

Land, ranches and residential in the Coachella Valley

Coachella Valley Housing Update:  Today I am going to borrow information from Lawyers Title Co., Kevin Wahlstrom.  Fantastic customer service by the way, and I use Lawyers often.  The Coachella Valley local housing update is just part of this very comprehensive Riverside Co., housing update.  Great information.  If you are looking to buy or sell here in the Coachella Valley, give local resident and realtor, Kim Kelly a call at 760-285-3578.

The second half of 2025 started with mortgage rates above 7%, and didn’t drop into the 6’s until mid February.  The affordability crisis has persisted and demand has remained pretty much unchanged over the past 2 years.  Days on the market has increased, buyer demand is muted and homeowners continue to “hunker down” in their homes, unwilling to move due to their under market, locked in rates.  The only change in the trajectory of buyer demand that is being predicted is if the mortgage rates fall to 6% or below.

Coachella Valley snapshot

Over the past 2 weeks, inventory decreased by 219 homes, a 6% decline.  Demand in the past 2 weeks decreased from 610 to 579 pending sales, down 5%.  Year over year, the Coachella Valley inventory is up by 857 homes, or 35%.  Demand is down by 36 pending sales or 6%.  The expected market time last year was 121 days, considerably faster than today.  The median sales price in June was $602,895 decreasing by $7,105 from May.  The median price in June 2024 was $590,000 which is 2% less than today.  (Information is courtesy of Lawyers Title Co.)

Take a look at this amazing 9.8 acre organic date farm being offered for just $795,000.

The Hideaway Golf Club in La Quinta, CA.

Foreclosures in Coachella Valley  I’m just talking about the Eastern Coachella Valley today.  The local desert cities of Palm Springs, Cat City, Palm Desert, Rancho Mirage, La Quinta, Indio, Indian Wells, Thermal, and Coachella.  I am not seeing many foreclosures as I show the Coachella Valley cities.  I handled many Short Sales during the last crash, and am always keeping my ears and eyes open for any trends that may be pointing to another Foreclosure crisis.  If you are looking to buy or sell, give local resident/agent, Kim Kelly a call at 760-285-3578.

According to Zillow and Redfin, there are zero foreclosures in all but two of the Coachella Valley cities.  There are currently 2 foreclosures in La Quinta, and 6 in Indio.

La Quinta:  There is currently 1 foreclosure in the La Quinta Cove.  $399,900.  1989 build of approx 1700 sf and on a single lot.  Has a pool and looks to be in pretty decent condition.

The Hideaway:  There is 1 foreclosure at the gorgeous Hideaway Golf  Club in La Quinta.  This gorgeous contemporary style home built in 2023 is approx 4370 sf, includes a casita and is listed for $4,250,000, sits on a 16.000 sf lot, and is gorgeous.  Hideaway has a monthly HOA of approx. $800/month.

The city of Indio has 6 foreclosed properties ranging in price from a mobile for $158,000 to $709,000.

A foreclosed 10 acre farm in Thermal with date trees just closed recently at approx $650,000.

So, no, I am not seeing alot of foreclosures released for sale in the Coachella Valley BUT throughout the US, foreclosures have climbed 9% from last year.

The property tour below is NOT for a foreclosed property, but it IS a gem.  4 acre fenced, private estate with a custom home built in 1981, pool/spa/outdoor cook station, 4 irrigated pastures and although it feels like a rural estate in the country, the entry is right off of a small street with direct access to Washington.  42605 Byron Pl., Bermuda Dunes.  List Price:  $2,799,000.

Real estate thoughts for 2025

Real Estate maybe’s for 2025?  Despite what some realtors think, none of us have crystal balls, and there is no way to be totally accurate.  The following are four interesting takes on the 2025 upcoming market from Zillow Premier Agent blog.  Anything that makes us think, and consider possible options is valuable!  If you are looking to buy or sell in the Coachella Valley, give local realtor, Kim Kelly a call at 760-285-3578.

1.  Mortgage Rates:  There was a short lived dip over the past 2 years, before the October rise, created some optimism and sales.  2024 was pretty tight on inventory, and Zillow predicts a more active housing market in 2025, with buyers having more of an upper hand.  Some signs point to rates easing in 2025, but as we saw in 2024, rates rarely do what’s expected!
2. Housing market Activity:  Predictions are that it will pick up.  There will be modest home value growth, the same as 2024.  Zillow predicts 4.3 million in coming sales for 2025, up slightly from 4.1 mil in 2023, and a projected 4 mil in 2024.
3. Buyers Market Predictions:  According to Zillow’s market heat index, most buyers markets right now are in the Southeast.  Predicted buyers markets will spread to the Southwest in 2025 as inventory continues to rise.  However, if I rates fall amore than expected, that will dim the prospects of a Southwest spread.
4. Housing types:  Americans are really embracing small home living.  The pandemic era need for more and more space is over.  Home buyers will increasingly lean into smaller homes as a more sustainable, affordable and desirable way to live.

Predictions are just that..predictions!  Zillow does fabulous market research, and research helps us understand what is happening, or may happen.  Gather your information, but ultimately, buy a property if and when you are ready, and find that ONE!

Just another beautiful day in the Coachella Valley!

Coachella Valley real estate update:  Inventory is up, days on market are up, medium sales price is also up in our Coachella Valley cities.  Total sales are however, down about 32% over last year.  (This info courtesy of the CDAR, which is the California Department of Real Estate).  Call local agent, Kim Kelly for info on your home value, 760-285-3578.

The Coachella Valley Real Estate Summary

PRICES: Prices have begun their seasonal rise. The median price of a detached home in the Valley increased for the first time in six months. It ended November at $634,990, which is $15,000 above last year. The median attached price ended November at $447,000, which is $8,000 less than last year. Year over year price changes in detached homes range from a gain of 11% in Indian Wells to a decline of 7.6% in La Quinta. Gains of the average size attached home range from 15.4% in Desert Hot Springs to minus 3.4% in Indio.

SALES: When you take out seasonality, sales are running 32.1% below normal. The three-month average in November was 472 units compared to 477 units a year ago. In most cities, sales are comparable to year ago levels. Only the cities of Rancho Mirage, Coachella and Indian Wells have sales measurably less than last year. Dollar sales in November were $365 million, which is 3.4% below last year.

INVENTORY & “MONTHS OF SALES” RATIOS: Inventory is back to normal. On November 1st, Valley inventory was 3,187 units, which is 869 units higher than last year. We haven’t had inventory over 3,000 since 2020. The Valley’s “months of sales” ratio was 5.3 months, which is 1.5 months more than last year. We see consistent ratios between 5.5 and 7.0 months in most of the nine cities. The ratio in Indian Wells is now the highest at 15.3 months.

DIM: Selling times are coming down as the median selling time dropped for the second time in nine months. At the end of November, the median number of “days in the market” in the Coachella Valley was 43 days, which is only seven days more than last year. The city of Desert Hot Springs has the lowest average selling time at just 34 days. This is followed by Indian Wells at 35 days and Indio at 41 days. Rancho Mirage has the highest median selling time at 53 days.

PRICE DISCOUNTS/PREMIUMS: Price discounts are back to normal. Currently, detached homes are selling at an average discount of 2.1% compared to 2.1% a year ago. Attached homes are selling at a 2.6% discount. Coachella, Indio and Cathedral City have the smallest selling discount at 1.4% while Rancho Mirage is selling homes with the highest average discount of 3.4%. The percent of homes selling over list price is 15.0%. This is 1/2% less than last year.  Take a tour of this gorgeous 9.8 acre date farm in Coachella, CA.