Is Cathedral City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$489,587
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cathedral City have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Cathedral City was $489,587 in March 2024, down 1.1% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266K | $266.8K | 0.3% |
| 2 Bedrooms | $375K | $365K | -2.7% |
| 3 Bedrooms | $519K | $500K | -3.7% |
| 4 Bedrooms | $617K | $580K | -6.0% |
| 5+ Bedrooms | $664.5K | $669.5K | +0.8% |
Summary: Cathedral City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Palm Springs | $619.8K | $635.1K | +2.5% |
| Rancho Mirage | $861.8K | $868.5K | +0.8% |
| Cathedral City-Palm Desert | $669.5K | $671.6K | 0.3% |
| Cathedral City | $494.8K | $489.5K | -1.1% |
Housing Supply in Cathedral City, CA
How many homes are available in Cathedral City, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 228 | 242 | +6.1% |
Summary: The Cathedral City real estate market had 242 homes for sale in March 2024, a 6.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 61 | 61 | 0.0% |
| 3 Bedrooms | 94 | 99 | +5.3% |
| 4 Bedrooms | 50 | 59 | +18.0% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Cathedral City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 18%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 41 | -10.9% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cathedral City, you may be able to get a good deal. 75.6% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Cathedral City in March 2024, down by 10.9% month-over-month. Of the 41 sold homes, 76% were sold under asking, 7% were sold at asking, and 17% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 54 Days | 60 Days | +12.5% |
Summary: Homes in Cathedral City had an average of 60 days on market in Mar 2024, up by 12.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cathedral City has remained consistent over time.
Summary: During March 2024, 41 homes were sold in Cathedral City; 34% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.