The Desert Housing Report January 2021

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Real Estate

The median detached home price in January was $525,000 and as the chart clearly shows, it's in the same price range it's been for the last three months. That said, it's still up 22% year-over-year. The median price for attached homes in the nine city Valley region in January was $335,500, up 19.8%. Total sales, at 1045 units a month, are currently running 46% above last year's numbers.

When we measure sales in different price brackets, we continue to find the largest sales increases are in the middle to higher price brackets. The largest increases are in the $400,000 to $600,000 price brackets, and in the million-dollar plus price bracket.

Inventory continues to decline and on February 1st stood at 1,283 units. Last year it was 3,202 units, which represents a 60% decline.

This degree of inventory decline is abnormal and it’s happening in many other California regions. We believe it is simply the natural result of the reluctance of homeowners to list their homes during a pandemic and does not represent a true reduction in the number of people wanting to sell their homes.

Now is a good time to put your house on the market despite lockdown. We’re here to help you sell faster and for more money.