Is Cathedral City, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cathedral City is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Cathedral City has remained a Seller's Market.

Key Takeaway

Cathedral City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cathedral City, CA

How much do homes in Cathedral City, CA cost?

Median Sold Price

$494,958

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$5,291(+1.1%)

Key Takeaway

Homes in Cathedral City have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Cathedral City was $494,958 in June 2024, up 1.1% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $270.5K$255K
-5.7%
2 $375K$375K
0.0%
3 $500K$514K
+2.8%
4 $600K$580K
-3.3%
5+ $679K$660K
-2.8%

Summary: Cathedral City housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 2.8%.

Median Sold Price Compared To Nearby Cities

Palm Springs
+5.9%
Rancho Mirage
+5.4%
Cathedral City
+1.1%
Cathedral City-Palm Desert
+0.7%

Housing Supply in Cathedral City, CA

How many homes are available in Cathedral City, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
242249+2.9%

Summary: The Cathedral City real estate market had 249 homes for sale in June 2024, a 2.9% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 109
-10.0%
2 7168
-4.2%
3 9198
+7.7%
4 5961
+3.4%
5+ 1113
+18.2%

Summary: The Cathedral City housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4445+2.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cathedral City, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in Cathedral City in June 2024, up by 2.3% month-over-month. Of the 45 sold homes, 58% were sold under asking, 20% were sold at asking, and 22% were sold over asking.

Days on Market for Cathedral City, CA

How long does it take to sell a home in Cathedral City, CA?

Average Sale Time

Jun 2023Jun 2024CHANGE
48 Days52 Days+8.1%

Summary: Homes in Cathedral City had an average of 52 days on market in Jun 2024, up by 8.1% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cathedral City are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 45 homes were sold in Cathedral City; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Cathedral City, CA

Nearby Markets to Cathedral City, CA

What housing markets are near Cathedral City, CA?