With the kids back in school and the weather cooling, snowbirds, their money and their golf clubs are back to the Greater Palm Springs area. However, Housing inventory continues to remain historically very low. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. Mark Kunce https://www.openhousespalmsprings.com/ kunce@kw.com DRE# 01458113 Keller Williams Realty Cell: 760-766-6093

1. 2019 SEPTEMBER
THE GREATER PALM SRPINGS AREA
REAL ESTATE MARKET OVERVIEW
*This information within is deemed reliable but is not guaranteed and should be independently verified.
Data Source: California Desert MLS , Freddie Mac

2. With the kids back in school and the weather cooling, snowbirds, their money and their golf
clubs are back to the Greater Palm Springs area. However, Housing inventory continues to
remain historically very low. Nationally, buyer and seller activity remained strong, buoyed by
low mortgage rates and a strong economy.
The real estate market this fall looking healthy in Coachella Valley. With a strong economy and
great mortgage rates, there is a lot to remain optimistic about.
On a city by city basis we continue to see strong price gains, especially in detached homes.
Seven of the 11 cities show positive 12-month gains in their median prices while two cities are
slightly lower. Palm Springs, with the median price of $642,500, is up 10.3% for the year and
7.1% above its all-time high made in 2006 and 2007. Only La Quinta and Rancho Mirage show
marginally lower prices. When you look at sales on a city by city basis, eight major cities show
higher sales, while only two cities – Thousand Palms and Rancho Mirage – are lower.
In Washington there are discussions around a broad overhaul of the housing finance system,
including the re-privatization of Fannie Mae and Freddie Mac and reforms to federal agencies
involved with financing substantial portions of the mortgages made every year. Many of these
policy conversations and eventual changes will take months or years to be implemented and
their impact is not yet clear.
While Halloween decorations are beginning to adorn homes around the country, the real
estate market this fall is looking far from scary.
Mark Kunce
MARKET OUTLOOK: FAR FROM SCARY
Mark Kunce
www.markkunce.com
kunce@kw.com
DRE# 01458113
Keller Williams Realty
Cell: 760-766-6093

3. SEPTEMBER
2018
SEPTEMBER
2019
CHANGE
DETACHED 389,000 405,000 +4.1%
ATTACHED 260,000 271,000 +4.2%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
COACHELLA VALLEY: MEDIAN HOME PRICE

4. HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
COACHELLA VALLEY: DAYS ON MARKET
DAYS ON MARET
2018 66
2019 65
66
65
SEPTEMBER 2018 vs. SEPTEMBER 2019
COACHELLA VALLEY: HOUSING INVENTORY
INVENTORY
2018 2780
2019 2736
2780
2736

5. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $582,500 $642,500 +10.3%
ATTACHED MEDIAN PRICE $250,000 $249,000 -0.4%
UNITS SOLD 166 174 +4.8%
MONTHS OF SUPPLY 2.6 2.6 +0.0%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
PALM SPRINGS

6. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $330,000 $345,000 +4.5%
ATTACHED MEDIAN PRICE $157,250 $190,000 +20.8%
UNITS SOLD 68 72 +5.9%
MONTHS OF SUPPLY 2.1 2.6 +23.8%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
CATHEDRAL CITY

7. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $668,000 $665,000 -0.4%
ATTACHED MEDIAN PRICE $349,950 $360,000 +2.9%
UNITS SOLD 70 68 -2.9%
MONTHS OF SUPPLY 3.7 5.0 +35.1%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
RANCHO MIRAGE

8. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $405,250 $422,500 +4.3%
ATTACHED MEDIAN PRICE $270,000 $285,000 +5.6%
UNITS SOLD 160 160 +0.0%
MONTHS OF SUPPLY 2.9 3.0 +34.4%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
PALM DESERT

9. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $1,050,000 $1,100,000 +4.8%
ATTACHED MEDIAN PRICE $395,000 $430,000 +8.9%
UNITS SOLD 18 24 +33.3%
MONTHS OF SUPPLY 3.2 2.8 -12.5%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
INDIAN WELLS

10. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $468,500 $467,000 -0.3%
ATTACHED MEDIAN PRICE $360,000 $337,000 -6.4%
UNITS SOLD 111 115 +3.6%
MONTHS OF SUPPLY 4.5 4.1 -8.9%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
LA QUINTA

11. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $330,000 $339,000 +2.7%
ATTACHED MEDIAN PRICE $215,000 $200,000 -7.0%
UNITS SOLD 104 115 +10.6%
MONTHS OF SUPPLY 3.2 2.8 -12.5%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
INDIO

12. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $252,500 $275,500 +9.1%
ATTACHED MEDIAN PRICE N/A N/A N/A
UNITS SOLD 16 17 +6.3%
MONTHS OF SUPPLY 3.7 3.1 -16.2%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
CITY OF COACHELLA

13. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE $220,000 $239,500 +9.1%
ATTACHED MEDIAN PRICE $175,500 $137,000 -21.9%
UNITS SOLD 51 52 +2.0%
MONTHS OF SUPPLY 3.5 4.0 +14.3%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
DESERT HOT SPRINGS

14. SEPTEMBER 2018 SEPTEMBER 2019 CHANGE
DETACHED MEDIAN PRICE - - -
ATTACHED MEDIAN PRICE - - -
UNITS SOLD 3 5 +66.7%
MONTHS OF SUPPLY 3.2 4.4 +37.5%
HOUSING REPORT
SEPTEMBER 2018 vs. SEPTEMBER 2019
THOUSAND PALMS

15. MORTGAGE RATE FORECAST FOR 2019 – 2020
October 18, 2019
Forecasts for 2019 put rates
somewhere around 3.85% by
the end of the year. That’s
down from predictions earlier
in the year that called for
rates in the 5s.
Rates steadily dropped from
late-2018 to September 2019,
when they rose slightly. Rates
are still running well below the
4% mark according to Freddie
Mac.
Been looking for a good
rate on a refinance or home
purchase? Now might be
the time to lock.

16. MARK KUNCE
760.766.6093 l markkunce.com
47100 Washington St #101
La Quinta, CA 92253
435 N. Palm Canyon Dr
Palm Springs, CA 92262
70005 Mirage Cove Dr
Rancho Mirage, CA 92270
Each office is independently Owned & Operated