Existing House Prices Rise $140,000 in Coachella Valley

Price tags of single-family homes are $481,000 compared to $341,000 last year



An existing home in the Coachella Valley is worth $140,000 more than it was a year ago for June, according to the California Desert Association of Realtors.

Kathy Schowe, California Lifestyle Realty, SchoweProperties.com

The value of homes in the Coachella Valley continues to rise over the same period of a year ago

As of June, an existing home in the Coachella Valley is worth $140,000 more than it was a year ago in the same month, according to the California Desert Association of Realtors (CDAR).

Price tags of single-family homes are $481,000 for June. Last year, those same homes sold for $341,000. Condos also made an incremental jump from $207,000 last year to $232,000 in June 2013. The number of condo units sold in June has also risen from 285 in 2013 from 242 in June 2012, according to CDAR.

The June statistics are based on the industry standard Multiple Listing Service in tracking sales for buyers and sellers, according to CDAR. This report reflects sales in Bermuda Dunes, Cathedral City, Coachella, Desert Hot Springs, Indio, Indian Wells, La Quinta, Palm Desert, Palm Springs and Rancho Mirage.

The inventory of available single-family homes continues to dwindle in June over May. In June, there were 2,046 single-family homes and 923 condos for sale compared to 2,181 single-family homes and 1,029 condos in May.

In terms of sales, 711 homes sold in June 2012 compared to 624 homes sold last month, according to CDAR.

“We continue to see the shortage of homes on the market pushing prices up,” said Ann Ritchie, executive vice president of CDAR. “What we need is an increase in the number of homes on the market to help stabilize prices.”

The number of short sales and foreclosures is also declining, representing 14 percent of June sales this year compared to 37 percent in June 2012, according to CDAR. Same is true for condos. Distressed sales fell to 13 percent for June compared to 27 percent in June 2012.

Add your comment:
Edit Module
Desert Guide
Edit ModuleShow Tags

Related Articles

James Beard Gourmet Luncheon Matches Stellar Chef Lineup with 4-Star Menu

Girl-Power met Chef-Power in a deliciously empowering afternoon to kick off the gustatory and oenophilic delights of Food & Wine Festival Palm Desert 2015.

Indian Wells Arts Festival Features Student Art Inspirations

At the entrance to this weekend's Indian Wells Arts Festival, be prepared to see more than 600 butterflies in a display from a workshop created by La Quinta artist Gideon Cohn.

Marie Osmond Brings "Intimate Evening" Show to Fantasy Springs

Marie Osmond has recently embarked on a new journey sharing her personal stories through music through a one-woman show, An Intimate Evening With Marie Osmond, My Life Through Music.

Dakota Home Community Nestles Up Against Palm Springs Mountains

Dakota, a six-acre gated community, is set right up against the mountains in Palm Springs and will have 39 single-family, two-story detached homes that each come with their own private pool and spa.

Dame Edna's Farewell Tour Comes to McCallum Theatre

With vibrant purple hair, pink and purple high heels, and delightfully blinged out cat eye glasses, Dame Edna Everage’s no holds barred approach to life has kept audiences in stitches for almost 50 years.
Edit ModuleShow Tags

Promotions + Contests

2014/15 Best of the Best

2014/15 Best of the Best

Palm Springs Life’s annual Best of the Best. Readers tell us who their choice is for the “Best of the Best” of the Coachella Valley in over 40 categories.
GuestLife Magical Monterey Bay Experience

GuestLife Magical Monterey Bay Experience

Pets on Parade 2015 Photo Contest

Pets on Parade 2015 Photo Contest

Enter your “Cutest Pet” photo in the Pets on Parade 2015 Photo Contest. Online users will be able to like the Cutest Pet photos from six (6) categories.
Cartoon Caption Contest

Cartoon Caption Contest

Each month, we provide a vintage 1950’s cartoon illustrated by Alice Rovinsky. You are invited to submit a caption or vote for your favorite caption.
Edit ModuleShow Tags