Summary June 2024 
PRICES: The median price of a detached home in the Coachella Valley, after reaching an all-time high two months ago,
declined in June to $695,000. It’s up only .7% year over year. The median attached price in the Valley ended June at
$475,000, unchanged year over year. Year over year price changes range from a 19.6% gain in Coachella to a decline of
11.5% in Bermuda Dunes. Gains of average size attached homes range from a 19.4% gain in Bermuda Dunes to -7.0% in
Desert Hot Springs.
SALES: Three-month sales are running behind last year’s numbers by 59 units. The number this month was 739 units per
month, compared to 798 units a year ago. Palm Desert has the highest unit sales per month at 163, followed by Palm
Springs, with 151. The 12-month average of sales, which takes out seasonality, was 617 units a month. This long-term
average is effectively the same as last year. For 15 months, long-term sales have been hovering between 600 and 620 units
a month.
INVENTORY & “MONTHS OF SALES” RATIOS: On July 1st, Valley inventory was 2,464 units, which is lower by 146 units
from last month. The seasonal pattern now suggests that inventory will continue to decline as we enter the summer
months. On July 1st, the Valley’s “months of sales” ratio was 4.0 months, which is 1.1 months more than last year. We
continue to see ratios between 2.5 and 4.0 months in the ten cities. This is the general sign of a balanced market.
DIM: At the end of June, the median number of “days in the market” in the Coachella Valley was 45 days, which is the same
as last month, but seven days more than last year. The city of Coachella continues to have the lowest, average selling time
at 18 days. This is followed by Cathedral City at 30 days and Desert Hot Springs at 43 days. At the other end, La Quinta has
the highest average selling time at 53 days.
PRICE DISCOUNTS/PREMIUMS: In June, detached homes were selling at an average discount of 2.0% while attached were
selling at a discount of 2.6%. Coachella is the only city selling homes at an average premium of .1%. Bermuda Dunes is
selling homes with the largest average discount of 4.2%. In June, the percent of homes selling over list price was 14.8%. This is
3% less than last year.