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August 2019 The Cachella Valley Real Estate Snapshot
The Coachella valley real estate market is finishing out the summer with a BANG!
In reviewing the current market statistics for the Coachella Valley, August of 2019 varied from August of 2018. Closed Sales are up 2.8 percent, Pending Sales are up 18.9 percent and Active Listings are down 2.1 percent. The median price was up 8.2 percent compared to this same month last year. Historically, August ushers in the highest temps of the summer and, as a result, inventory drops along the sales. While, August of 2019 does bring in a slight decrease in a available homes, the demand is certainly outpacing the supply. With the pending sales up nearly 19 percent, it would indicate strong closed sales in September and October.
The "Month Supply of Inventory" has now dipped below 3, indicating an extreme Seller's market. Don't let the heat fool you, the real estate market is not slowing down one bit in the Coachella Valley.
Michael has over 40 years in the Real Estate industry. He developed one of the top producing Teams in the Palm Springs area, ranking in the top 25 Teams in Keller Williams International. Michael is cu....