Business & Tech

Valley Home Sales Dip Slightly

The average price of homes in most desert cities is more than $280,000.

The number of sales for single-family homes and condos dropped slightly last month compared to the same period last year.

Sales of existing homes in nine Coachella Valley cities and the unincorporated community of Bermuda Dunes totaled 502, down from 519 a year ago, while condominium sales totaled 128 in October, down from 147 in October 2010, according to the California Desert Association of Realtors.

The average price for a single family home in October was $281,360, a drop from $282,997 in October 2010, the agency reported.

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Condominiums, meanwhile, saw an average price of $162,936 in October, down from $192,031 in October 2010. The medium selling price of homes and condos is largely due to the number of sales in a particular price range.

“Even so, the valley wide average sales price of $281,360 is more than the average sales price only in Cathedral City, Coachella, Desert Hot Springs and Indio. All other desert cities have an average sales price greater than the valley wide of $281,360,” said Greg Berkemer, executive vice president of the California Desert Association of Realtors.

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The October statistics, including median and average sale prices, are based on the industry standard Multiple Listing Service in tracking sales for buyers and sellers. 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.


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