Is Thermal, 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, Thermal was a Neutral Market.
Key Takeaway
Thermal is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Thermal, CA
How much do homes in Thermal, CA cost?
Median Sold Price
$295,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Thermal have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Thermal was $295,000 in May 2024, up 1.7% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $213K | $3.7M | +1660.6% |
| 2 Bedrooms | $247.5K | $208.1K | -15.9% |
| 3 Bedrooms | $254.7K | $295K | +15.8% |
| 4 Bedrooms | $295K | $301.5K | +2.2% |
| 5+ Bedrooms | $325K | $3.7M | +1053.8% |
Summary: Thermal housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1660.6%, 2 bedroom homes decreased by 15.9%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 1053.8%.
Median Sold Price Compared To Nearby Cities
| Coachella | $426.2K | $447.5K | +5.0% |
| La Quinta | $773.9K | $791.9K | +2.3% |
| Thermal | $290K | $295K | +1.7% |
| Coachella Valley | $580.2K | $569.1K | -1.9% |
Housing Supply in Thermal, CA
How many homes are available in Thermal, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 52 | -5.5% |
Summary: The Thermal real estate market had 52 homes for sale in May 2024, a 5.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 26 | 26 | 0.0% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Thermal 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 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 3 | -76.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Thermal, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Thermal in May 2024, down by 76.9% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Thermal, CA
How long does it take to sell a home in Thermal, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 56 Days | 212 Days | +273.0% |
Summary: Homes in Thermal had an average of 212 days on market in May 2024, up by 273% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Thermal are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 3 homes were sold in Thermal; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% 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.