July 2019 Palm Springs Housing Report. July is usually a down month due to seasonal factors. Team Michael Keller Williams DRE# 00938044

1. 2019 JULY
HOUSING MARKET OVERVIEW
*This information within is deemed reliable but is not guaranteed and should be independently verified.
Data Source: California Desert MLS , Freddie Mac

2. Team Michael Keller Williams is the Real Estate Team of Choice here in the greater Palm Springs area. As quickly as the valley
grows and changes, the team works as a whole to stay above the real estate curves. Whether it is a primary residence, second
home or an investment property, there is a member of our team to fit every niche.
A full service team which includes listing agents, buyers agents and a dynamic administrative staff which consists of a team
leader, office manager and marketing assistant. You have advocates that guide you through your transaction, anticipate problem
before they arise.
Team Michael Keller Williams serves the greater Palm Springs area which includes Palm Springs, Rancho Mirage, Cathedral
City, Palm Desert, Indian Wells, La Quinta, Indio & Coachella. You can be confident that you are making the most educated
decisions for your market, due to our hyperlocal market expertise.
We look forward to working with you on your next real estate transaction.
WHO WE ARE
MICHAEL C. HILGENBERG
WE JOINED THE NATION’S PREMIER NETWORK FOR MARKETING U.S. PROPERTIES THROUGHOUT THE WORLD

3. JULY 2018 JULY 2019 CHANGE
DETACHED 400,000 417,500 +4.4%
ATTACHED 279,653 285,000 +1.9%
HOUSING REPORT
JULY 2018 vs. JULY 2019
COACHELLA VALLEY: MEDIAN HOME PRICE

4. HOUSING REPORT
JULY 2018 vs. JULY 2019
COACHELLA VALLEY: DAYS ON MARKET
DAYS ON MARET
2018 69
2019 67
69
67
JULY 2018 vs. JULY 2019
COACHELLA VALLEY: HOUSING INVENTORY
INVENTORY
2018 2735
2019 2722
2735
2722

5. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $608,000 $650,000 +6.9%
ATTACHED MEDIAN PRICE $242,500 $261,500 +7.8%
UNITS SOLD 203 195 -4%
MONTHS OF SUPPLY 2.8 2.8 +0.0%
HOUSING REPORT
JULY 2018 vs. JULY 2019
PALM SPRINGS

6. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $329,500 $345,500 +4.6%
ATTACHED MEDIAN PRICE $210,000 $180,000 +13.5%
UNITS SOLD 80 82 +2.5%
MONTHS OF SUPPLY 2.3 2.0 -15.0%
HOUSING REPORT
JULY 2018 vs. JULY 2019
CATHEDRAL CITY

7. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $675,000 $700,000 +3.7%
ATTACHED MEDIAN PRICE $379,500 $362,500 -4.5%
UNITS SOLD 86 77 -10.4%
MONTHS OF SUPPLY 4.0 5.1 +27.5%
HOUSING REPORT
JULY 2018 vs. JULY 2019
RANCHO MIRAGE

8. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $426,500 $426,000 -0.1%
ATTACHED MEDIAN PRICE $285,000 $296,750 +4.1%
UNITS SOLD 221 207 +6.7%
MONTHS OF SUPPLY 2.9 3.1 +6.8%
HOUSING REPORT
JULY 2018 vs. JULY 2019
PALM DESERT

9. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $1,050,000 $1,113,312 +13.2%
ATTACHED MEDIAN PRICE $387,500 $434,500 +12.1%
UNITS SOLD 33 28 -15.1%
MONTHS OF SUPPLY 5.7 7.5 +31.5%
HOUSING REPORT
JULY 2018 vs. JULY 2019
INDIAN WELLS

10. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $500,000 $527,500 +5.5%
ATTACHED MEDIAN PRICE $340,000 $353,000 +3.8%
UNITS SOLD 139 128 -7.9%
MONTHS OF SUPPLY 4.3 4.3 +0%
HOUSING REPORT
JULY 2018 vs. JULY 2019
LA QUINTA

11. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $327,900 $339,000 +3.4%
ATTACHED MEDIAN PRICE $225,000 $199,500 -11.3%
UNITS SOLD 120 125 +4.2%
MONTHS OF SUPPLY 2.6 2.7 +3.8%
HOUSING REPORT
JULY 2018 vs. JULY 2019
INDIO

12. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $250,000 $278,000 +11.2%
ATTACHED MEDIAN PRICE N/A N/A N/A
UNITS SOLD 18 12 -33.3%
MONTHS OF SUPPLY 2.9 2.8 -3.4%
HOUSING REPORT
JULY 2018 vs. JULY 2019
CITY OF COACHELLA

13. JULY 2018 JULY 2019 CHANGE
DETACHED MEDIAN PRICE $215,000 $225,000 +4.7%
ATTACHED MEDIAN PRICE $188,000 $150,000 -20.2%
UNITS SOLD 57 53 -7.0%
MONTHS OF SUPPLY 3.5 4.4 +25.7%
HOUSING REPORT
JULY 2018 vs. JULY 2019
DESERT HOT SPRINGS

14. MORTGAGE RATE FORECAST FOR 2019 – 2020
JULY 30, 2019
Over the past few months, the uncertainty regarding
trade disputes has led to a lowering of long term
interest rates, including mortgage rates. We have
revised down our quarterly forecasts for the 30-year
fixed-rate mortgage for this year and next year, with
the annual average expected to be 4.1% in 2019,
before decreasing modestly to 4.0% in 2020.
Owing to possible interest rate cuts in the second half
of 2019, we expect the Federal Funds effective rate
to be 2.3% in the third and fourth quarter of 2019.
While our 2019 annual forecast for the Federal Funds
rate remains unchanged from our previous forecast at
2.4%, we expect the annual average for 2020 to be
2.3%, which assumes no further rate cuts in 2020.
The lower federal funds rate will turn investor interest
towards more lucrative stocks and away from
government bonds. We forecast the 10-year Treasury
rate to decline to 2.3% in 2019 and stay at the same
level in 2020. Also, maintaining the spread between
government bond yields, we expect the 1-year
Treasury rate to be 2.2% in both 2019 and 2020.

15. MEET OUR TEAM
TRUSTED Since 1986
MICHAEL HILGENBERG
BROKER
PETE BOESEN
REALTOR®
ALISON CONE
REALTOR®
JOHN GUTHRIE
REALTOR®
PAUL FLICK
ADMINISTRATIVE
DIRECTOR
SATOSHI NISHIMURA
MARKETING
DIRECTOR
TESTIMONIALS
“…I felt completely secure
that I was in the hands of
knowledgeable real estate
professionals who had my
best interest at heart and…”
“…and not to rush with
decisions. The whole
process has been smooth
and pleasant thanks to…”
“…that an otherwise difficult
process could be so much
easier with your knowledge
and skill, plus a sincere desire
to meet my needs…”

16. TEAM MICHAEL
760.770.1555 l ServingPalmSprings.com
70005 Mirage Cove Drive, Rancho Mirage, CA 92770
Each office is independently Owned & Operated