With more homes on the market and flexible sellers, buyers have new negotiating power. I’ll share the latest data and what the numbers mean for you.
The Coachella Valley real estate market is changing this fall. It’s not crashing, but it’s not racing ahead either. We’re entering a more balanced market, and that’s creating new opportunities for both buyers and sellers.
If you’ve been watching what’s happening in Palm Springs, La Quinta, Indio, or Rancho Mirage, you’ve likely noticed that homes are staying on the market a little longer and buyers are getting more choices. The days of bidding wars and lightning-fast sales are behind us for now. Let’s take a closer look at what’s driving this shift and how you can make the most of it.
Inventory is increasing. At the end of October, there were about 3,233 homes for sale across the valley. That’s a 14.5% increase from last year. The months of supply rose from 4.6 to 5.2, which means there are more homes available compared to the number of active buyers. This has created one of the most balanced markets we’ve seen in years, slightly favoring buyers.
Prices remain steady. As of November 1, the median single-family home price in the Coachella Valley was $625,000. That’s just 1.6% lower than last year. Even with more homes on the market, prices have held on to most of the gains made during the pandemic. The luxury segment remains strong, helping to keep overall prices stable.
Homes are taking longer to sell. Across every city from Palm Springs to La Quinta, Indio, and Rancho Mirage, the average days on market have increased. Buyers are more selective and are taking more time to make decisions. Homes that are clean, staged, and priced correctly still sell well. Overpriced homes, however, tend to sit longer, and the longer a listing stays on the market, the weaker the offers become.
What does this mean for sellers? There are still great opportunities for sellers, but pricing correctly from the start is more important than ever. Buyers have more leverage now, so showing value matters. Homes that are move-in ready and presented well continue to attract serious interest.
What does this mean for buyers? This is a good time to make a move. With more inventory and less competition, buyers can explore, compare, and negotiate terms. Many sellers are open to discussions about closing costs, rate buydowns, or repair credits to keep deals moving.
Here are three practical tips for today’s market:
- Price to today’s market, not last year’s headlines. Look at current data and local trends before setting your list price.
- Clean, stage, and market your home well. Presentation makes a huge difference in how quickly and confidently buyers act.
- For buyers, take advantage of your options. You have more time to shop and more room to negotiate, but the best homes in good locations still sell quickly.
Local trends matter. Each city in the Coachella Valley has its own rhythm. Palm Springs might be steady, while La Quinta or Indio could be shifting. Watching local data and interest rate movements can help you time your next step wisely.
The Coachella Valley market this fall is balanced, steady, and full of opportunity. Prices are holding, inventory is healthy, and both buyers and sellers can succeed with the right strategy.
If you’d like a customized breakdown for your neighborhood or want to know how these updates affect your next move, feel free to call or text me at 760-774-3066 or email me at Will@WillCookRealEstate.com. I’ll help you make informed, confident decisions in today’s Palm Springs market.
