Is Thermal, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Thermal was a Seller's Market.
Key Takeaway
Thermal is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Thermal, CA
How much do homes in Thermal, CA cost?
Median Sold Price
$295,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Thermal have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Thermal was $295,000 in March 2024, up 7.3% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $213K | $3.7M | +1660.6% |
| 2 Bedrooms | $243.9K | $180K | -26.2% |
| 3 Bedrooms | $255K | $295K | +15.7% |
| 4 Bedrooms | $295K | $310K | +5.1% |
| 5+ Bedrooms | $325K | $2.7M | +730.8% |
Summary: Thermal housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1660.6%, 2 bedroom homes decreased by 26.2%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 730.8%.
Median Sold Price Compared To Nearby Cities
| Thermal | $275K | $295K | +7.3% |
| Coachella | $430K | $451.6K | +5.0% |
| La Quinta | $774.5K | $787.7K | +1.7% |
| Coachella Valley | $588.1K | $567.4K | -3.5% |
Housing Supply in Thermal, CA
How many homes are available in Thermal, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 54 | 50 | -7.4% |
Summary: The Thermal real estate market had 50 homes for sale in March 2024, a 7.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 27 | 24 | -11.1% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Thermal housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Thermal, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Thermal in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Thermal, CA
How long does it take to sell a home in Thermal, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 94 Days | 33 Days | -65.2% |
Summary: Homes in Thermal had an average of 33 days on market in Mar 2024, down by 65.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Thermal are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Thermal; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% 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.