The median price of a detached home in the Coachella Valley ended September at $660,404, unchanged for the month but down 1.4% year over year. The median attached price in the Valley declined $4,000 in September to $435,000 and is now down 6.5%. The rapid rise in long term mortgage rates continues to impact monthly sales. The three-month average of sales declined in September to 532 units a month, which is 49 units less than last year. On October 1st, Valley inventory was 1,601 units, which is 161 units more
than last month. At the end of September, the median number of “days in the market” in the Coachella Valley was 38 days, which is the same as last month and six days more than last year. In September, 17.1% of sales sold above list price, compared to 28.8% a year ago.