Desert Hot Springs Housing Market Compared To CV

By Desert Star Staff

Although home sales have decreased in the Coachella Valley, the ratio of available homes to buyers is still low. This means sellers still have the upper hand in the market, leading to multiple offers and homes selling for more than the asking price. Additionally, the market is experiencing a typical spring rebound. In April 2023, the median price for a home in Desert Hot Springs was $385K, showing a decrease of 6.7% from the previous year. On average, homes in Desert Hot Springs sold after 34 days on the market compared to 38 days the last year. As a result, the number of homes sold in April 2023 was 34, lower than the 77 sold in the same month of the previous year.

Home sales prices may have decreased from their peak in the previous year, but they are still significantly higher than the lows of 2021. According to projections from Zillow, home prices will continue to rise in the spring and peak in the summer. However, it is essential to note that they are expected to slow down in 2023 due to increased mortgage rates.

As a result, the number of homes available for sale has decreased, causing an increase in selling prices. In addition, according to recent data, the average duration for a home to stay on the market fell to 66 days in March 2023, compared to 77 days in February.

If you want to buy a new home, now is a great time to negotiate a good deal. The

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