Indio housing market stable compared to last year

The median price of an average-sized detached home in the Coachella Valley last month was $660,000 a decrease of less than one percent from the year before but a $15,000 increase from November. Attached homes decreased 3% year-over-year to $460,000.

• Two valley cities, Indian Wells and La Quinta, saw an increase in detached home prices compared to the year before. In Bermuda Dunes home prices were also up almost 9% compared to last year.

Zoom in: In Indio, detached home prices fell 4% to $615,000 in December. Indio was the only valley city that saw an increase in attached home prices. In December, the average price for attached homes was about $294,000, an increase of 7% compared to last year.

In context: The median price in the city had been on a decline for at least eight months, but prices valley-wide and in Indio started trending upward last month. Home prices tend to hit their seasonal lows now and highs in spring.

By the numbers: Indio recorded 69 sales during the three-month period ending in December, exactly equal to the number of sales the year before, but down slightly compared to November.

Inventory: At the end of December, Indio had 371 homes listed for sale, also exactly equal to last year.

What else: Homes in Indio are taking longer to sell. Last month, homes took an average of 59 days to sell, compared to 43 days the year before. 

• That’s one of the longest selling times in the valley, behind Coachella at 64 days and Bermuda Dunes at 92 days. 

Bottom line: December saw slight increases in prices and homes were selling slightly faster compared to November. Inventory and sales numbers have remained steady.

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