Is Cathedral City, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cathedral City was a Seller's Market.
Housing Prices in Cathedral City, CA
How much do homes in Cathedral City, CA cost?
Median Sold Price
$493,450
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cathedral City was $493,450 in May 2024, up 0.9% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $271K | $255K | -5.9% |
2 Bedrooms | $370K | $370K | 0.0% |
3 Bedrooms | $505K | $504.2K | -0.1% |
4 Bedrooms | $610K | $577.5K | -5.3% |
5+ Bedrooms | $664.5K | $677K | +1.9% |
Summary: Cathedral City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.9%, 2 bedroom homes did not change, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 1.9%.
Median Sold Price Compared To Nearby Cities
Palm Springs | $608.1K | $647.8K | +6.5% |
Rancho Mirage | $856.5K | $886.2K | +3.5% |
Cathedral City | $489K | $493.4K | +0.9% |
Cathedral City-Palm Desert | $668.2K | $674.1K | +0.9% |
Housing Supply in Cathedral City, CA
How many homes are available in Cathedral City, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
240 | 257 | +7.1% |
Summary: The Cathedral City real estate market had 257 homes for sale in May 2024, a 7.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 10 | 0.0% |
2 Bedrooms | 68 | 75 | +10.3% |
3 Bedrooms | 94 | 100 | +6.4% |
4 Bedrooms | 55 | 59 | +7.3% |
5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The Cathedral City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
42 | 43 | +2.4% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Cathedral City in May 2024, up by 2.4% month-over-month. Of the 43 sold homes, 49% were sold under asking, 30% were sold at asking, and 21% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 46 Days | -27.1% |
Summary: Homes in Cathedral City had an average of 46 days on market in May 2024, down by 27.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 43 homes were sold in Cathedral City; 47% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.