$10,000 Closing Credit*
$1,595,000
3,072 SqFt
3 Beds
•3 Full Baths, 1 Partial
Dana Zusman, Listing Office: Surterre Properties
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 October 2023
At the same time last year, Cathedral City-Palm Desert was a Seller's Market.
Key Takeaway
Cathedral City-Palm Desert is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cathedral City-Palm Desert, CA
How much do homes in Cathedral City-Palm Desert, CA cost?
Median Sold Price
$674,561
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,490(+2.8%)
Key Takeaway
Homes in Cathedral City-Palm Desert have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Cathedral City-Palm Desert was $674,561 in October 2024, up 2.8% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.4K | $300K | 0.2% |
| 2 Bedrooms | $478K | $489.7K | +2.4% |
| 3 Bedrooms | $706.6K | $720K | +1.9% |
| 4 Bedrooms | $1.0M | $1.1M | +4.4% |
| 5+ Bedrooms | $1.6M | $1.3M | -18.0% |
Summary: Cathedral City-Palm Desert housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 18%.
Median Sold Price Compared To Nearby Cities
| Indian Wells | $1.0M | $1.4M | +34.0% |
| Rancho Mirage | $839.5K | $900.4K | +7.3% |
| Cathedral City-Palm Desert | $656K | $674.5K | +2.8% |
| Cathedral City | $489.7K | $502.6K | +2.6% |
| Palm Desert | $567.2K | $578.9K | +2.1% |
Housing Supply in Cathedral City-Palm Desert, CA
How many homes are available in Cathedral City-Palm Desert, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,392 | 1,758 | +26.3% |
Summary: The Cathedral City-Palm Desert real estate market had 1,758 homes for sale in October 2024, a 26.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 33 | 36 | +9.1% |
| 2 Bedrooms | 389 | 495 | +27.2% |
| 3 Bedrooms | 656 | 817 | +24.5% |
| 4 Bedrooms | 251 | 330 | +31.5% |
| 5+ Bedrooms | 63 | 80 | +27.0% |
Summary: The Cathedral City-Palm Desert housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 27.2%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 31.5%, and 5+ bedroom homes increased by 27%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 166 | 223 | +34.3% |
Asking Price vs. Sold Price
147 Homes Were Sold
Under Asking
52 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cathedral City-Palm Desert, you may be able to get a good deal. 65.9% of homes here sold below asking price last month.
Summary: A total of 223 homes were sold or pending in Cathedral City-Palm Desert in October 2024, up by 34.3% month-over-month. Of the 223 sold homes, 66% were sold under asking, 23% were sold at asking, and 11% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 57 Days | -7.2% |
Summary: Homes in Cathedral City-Palm Desert had an average of 57 days on market in Oct 2024, down by 7.2% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
91 Homes Were Sold
In 30 - 90 Days
48 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cathedral City-Palm Desert has remained consistent over time.
Summary: During October 2024, 223 homes were sold in Cathedral City-Palm Desert; 37% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.