Is Cathedral City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Cathedral City was a Seller's Market.
Key Takeaway
Cathedral City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cathedral City, CA
How much do homes in Cathedral City, CA cost?
Median Sold Price
$490,000
$297/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Key Takeaway
The sold price of homes in Cathedral City has remained the same since last year.
Summary: The median home sold price in Cathedral City was $490,000 in April 2024, the same as last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270.5K | $265.3K | -1.9% |
| 2 Bedrooms | $375K | $370K | -1.3% |
| 3 Bedrooms | $509.9K | $502.1K | -1.5% |
| 4 Bedrooms | $621.9K | $575K | -7.5% |
| 5+ Bedrooms | $714K | $660K | -7.6% |
Summary: Cathedral City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Palm Springs | $618.6K | $649.9K | +5.1% |
| Rancho Mirage | $860K | $863.9K | 0.5% |
| Cathedral City | $490K | $490K | 0.0% |
| Cathedral City-Palm Desert | $674K | $673K | -0.2% |
Housing Supply in Cathedral City, CA
How many homes are available in Cathedral City, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 231 | 255 | +10.4% |
Summary: The Cathedral City real estate market had 255 homes for sale in April 2024, a 10.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 12 | -7.7% |
| 2 Bedrooms | 65 | 74 | +13.8% |
| 3 Bedrooms | 88 | 97 | +10.2% |
| 4 Bedrooms | 56 | 60 | +7.1% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Cathedral City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 39 | -7.1% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cathedral City, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in Cathedral City in April 2024, down by 7.1% month-over-month. Of the 39 sold homes, 54% were sold under asking, 28% were sold at asking, and 18% were sold over asking.
Days on Market for Cathedral City, CA
How long does it take to sell a home in Cathedral City, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 46 Days | +5.6% |
Summary: Homes in Cathedral City had an average of 46 days on market in Apr 2024, up by 5.6% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cathedral City are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 39 homes were sold in Cathedral City; 49% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 18% 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.