Coachella Valley Housing Report: This report is put out by the Board and the numbers are based on the median, which is a very general number in my opinion. I don’t use the median for List prices, sales prices..pretty much anything other than a very GENERAL overview because it’s just too vague. But there is value in that too. The Coachella Valley Housing Report came out in April of 2020, so the corona virus affect has not been shown as dramatically as it will be in the next quarter. If you want an honest evaluation of your Land, Farm or Residential property, call Kim Kelly, local Realtor, at 760-285-3578.
First Q saw the median Detached Home Price rise to $440,000 and the median Attached home price settle at $299,000. More specifically, over the past year, La Quinta saw it’s median fall from $560,000 – $557,000…very slight. Rancho Mirage’s median for the Q, fell 14% to $655,000 and Indian Wells saw a fall of 19.7%, while Desert Hot Springs median rose over the past year 15% to $253,000.
Another interesting graph on the attached Coachella Valley Housing Report, is Home Sales by Price Range over the first Q based on prices. Sales prices decreased in all price brackets under $500,000. Homes priced between $500,000 and 1 million, sales are slightly higher than last year for our first Q of 2020, but for first time in a long time, there is a decline in sales for homes over a million dollars. The beautiful land below is available and I bet the seller, (if they’re on top of the market), will be flexible.