Is Cathedral City-Palm Desert, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cathedral City-Palm Desert has remained a Seller's Market.
Housing Prices in Cathedral City-Palm Desert, CA
How much do homes in Cathedral City-Palm Desert, CA cost?
Median Sold Price
$673,033
$361/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cathedral City-Palm Desert was $673,033 in April 2024, down 0.2% from last year, and the median price per square foot was $361.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $299K | $303K | +1.3% |
2 Bedrooms | $479.7K | $495.2K | +3.2% |
3 Bedrooms | $715.4K | $725K | +1.3% |
4 Bedrooms | $1.0M | $1.1M | +5.1% |
5+ Bedrooms | $1.5M | $1.5M | -5.4% |
Summary: Cathedral City-Palm Desert housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 5.4%.
Median Sold Price Compared To Nearby Cities
Indian Wells | $1.1M | $1.2M | +9.1% |
Rancho Mirage | $860K | $863.9K | 0.5% |
Cathedral City | $490K | $490K | 0.0% |
Cathedral City-Palm Desert | $674K | $673K | -0.2% |
Palm Desert | $599.8K | $571.9K | -4.7% |
Housing Supply in Cathedral City-Palm Desert, CA
How many homes are available in Cathedral City-Palm Desert, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,769 | 1,835 | +3.7% |
Summary: The Cathedral City-Palm Desert real estate market had 1,835 homes for sale in April 2024, a 3.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 41 | 39 | -4.9% |
2 Bedrooms | 443 | 471 | +6.3% |
3 Bedrooms | 853 | 866 | +1.5% |
4 Bedrooms | 347 | 360 | +3.7% |
5+ Bedrooms | 85 | 99 | +16.5% |
Summary: The Cathedral City-Palm Desert housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.9%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 16.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
352 | 353 | 0.3% |
Asking Price vs. Sold Price
230 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Summary: A total of 353 homes were sold or pending in Cathedral City-Palm Desert in April 2024, up by 0.3% month-over-month. Of the 353 sold homes, 65% were sold under asking, 21% were sold at asking, and 14% were sold over asking.
Days on Market for Cathedral City-Palm Desert, CA
How long does it take to sell a home in Cathedral City-Palm Desert, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 53 Days | +11.4% |
Summary: Homes in Cathedral City-Palm Desert had an average of 53 days on market in Apr 2024, up by 11.4% compared to last year.
Breakdown of Home Sale Times
139 Homes Were Sold
Under 30 Days
151 Homes Were Sold
In 30 - 90 Days
63 Homes Were Sold
Over 90 Days
Summary: During April 2024, 353 homes were sold in Cathedral City-Palm Desert; 39% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.