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Total Market Overview Q1 2019 - Coachella Valley Real Estate

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This report on the Coachella Valley's housing market explores what's happening, highlights key statistics and trends in the housing Market in the Greater Palm Springs area. Team Michael Keller Williams Realty (CalBRE#00938044) Trusted Since 1986

https://www.servingpalmsprings.com

Published in: Real Estate
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Total Market Overview Q1 2019 - Coachella Valley Real Estate

  1. 1. 2019 Q1 TOTAL MARKET OVERVIEW *This information within is deemed reliable but is not guaranteed and should be independently verified. Data Source: California Desert MLS , BrokerMetrics
  2. 2. MEET OUR TEAM TRUSTED Since 1986 MICHAEL HILGENBERG BROKER PETE BOESEN REALTOR® ALISON CONE REALTOR® BLAIRE WAGNER REALTOR® EVE ZIMMERLE REALTOR® DINANA HOPKINS REALTOR® JOHN GUTHRIE REALTOR® PAUL FLICK ADMINISTRATIVE DIRECTOR SATOSHI NISHIMURA MARKETING DIRECTOR
  3. 3. 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
  4. 4. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 4,077 (average) 3,980 (average) -2% UNDER CONTRACT 2,991 2,709 -10% UNITS SOLD 2,753 2,463 -11% MEDIAN PRICE $346,333 $365,000 +5% TOTAL MARKET OVERVIEW Here’s a glance at the Coachella Valley in Q1 2019. COACHELLA VALLEY
  5. 5. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 656 (average) 589 (average) -10% UNDER CONTRACT 546 526 -7% UNITS SOLD 478 464 -3% MEDIAN PRICE $347,333 $427,000 +14% TOTAL MARKET OVERVIEW Here’s a glance at the Palm Springs in Q1 2019. PALM SPRINGS
  6. 6. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 199 (average) 215 (average) +8% UNDER CONTRACT 177 163 -8% UNITS SOLD 154 142 -8% MEDIAN PRICE $216,667 $219,333 +1% TOTAL MARKET OVERVIEW Here’s a glance at the Desert Hot Springs in Q1 2019. DESERT HOT SPRINGS
  7. 7. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 202 (average) 201 (average) +/-0% UNDER CONTRACT 238 211 -11% UNITS SOLD 211 160 -24% MEDIAN PRICE $277,333 $314,667 +12% TOTAL MARKET OVERVIEW Here’s a glance at the Cathedral City in Q1 2019. CATHEDRAL CITY
  8. 8. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 480 (average) 486 (average) +1% UNDER CONTRACT 235 195 -17% UNITS SOLD 241 198 -18% MEDIAN PRICE $495,667 $550,333 +10% TOTAL MARKET OVERVIEW Here’s a glance at the Rancho Mirage in Q1 2019. RANCHO MIRAGE
  9. 9. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 790 (average) 787 (average) +/-0% UNDER CONTRACT 619 552 -11% UNITS SOLD 568 503 -12% MEDIAN PRICE $342,667 $345,667 +1% TOTAL MARKET OVERVIEW Here’s a glance at the Palm Desert in Q1 2019. PALM DESERT
  10. 10. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 240 (average) 218 (average) -9% UNDER CONTRACT 70 64 -9% UNITS SOLD 88 83 -6% MEDIAN PRICE $672,667 $746,667 +10% TOTAL MARKET OVERVIEW Here’s a glance at the Indian Wells in Q1 2019. INDIAN WELLS
  11. 11. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 822 (average) 749 (average) -9% UNDER CONTRACT 364 351 -4% UNITS SOLD 394 342 -13% MEDIAN PRICE $445,333 $466,000 +4% TOTAL MARKET OVERVIEW Here’s a glance at the La Quinta in Q1 2019. LA QUINTA
  12. 12. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 378 (average) 427 (average) +12% UNDER CONTRACT 362 329 -9% UNITS SOLD 326 291 -11% MEDIAN PRICE $299,667 $324,667 +8% TOTAL MARKET OVERVIEW Here’s a glance at the Indio in Q1 2019. INDIO
  13. 13. Q1 2018 Q1 2019 CHANGE ACTIVE LISTINGS 54 (average) 42 (average) -22% UNDER CONTRACT 57 52 -9% UNITS SOLD 47 47 +/-0% MEDIAN PRICE $254,667 $261,333 +8% TOTAL MARKET OVERVIEW Here’s a glance at the Coachella in Q1 2019. COACHELLA
  14. 14. TOTAL MARKET OVERVIEW “EFFECTS OF PRICING Pricing your property competitively will generate the most activity from agents and buyers. Pricing your property too high may make it necessary to drop the price below market value to compete with new, well-priced listings. SOLD UNIT Q1 2018 SOLD UNIT Q1 2019 SP/OP Q1 2018 SP/OP Q1 2019 DOM Q1 2018 DOM Q1 2019 NO PRICE CHANGES 1,515 1,327 96% 96% 60 57 1+ PRICE CHANGES 813 751 88% 90% 143 135
  15. 15. MORTGAGE RATE FORECAST FOR 2019 – 2020 MARCH 1, 2019 A recently issued mortgage rate forecast for 2019 and 2020 suggests that average rates could hover below 5% for the foreseeable future. That forecast was issued by the economic research team at Freddie Mac, the same organization that publishes a widely cited mortgage industry survey. The group predicted that 30-year loan rates could end up averaging 4.6% in 2019, and 4.9% in 2020.
  16. 16. TEAM MICHAEL 760.770.1555 l ServingPalmSprings.com 70005 Mirage Cove Drive, Rancho Mirage, CA 92770 Each office is independently Owned & Operated

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