For the first time in three months, the active inventory of homes for sale in the Coachella Valley dropped. As of this morning, the current active inventory stands at 2,216 active listings. Down from 2,235 the previous week. The city of Palm Desert also saw a reduction in inventory this week to 443 active listings. Down from 450 the previous week.
Historically, we see a reduction in inventory this time of season due to the holidays. We have seen an increase of the inventory since March of this year. Higher interest rates and less demand has led to the increase.
This week in The Retreat at Desert Willow, one of the listings in now currently in escrow. There are now currently three active listings in The Retreat at Desert Willow.
Floor plan 1 – 2 bedroom plus den/office, 2.5 bath, 2,019 square feet, listed for $910,000 Floor plan 3 – 2 bedroom plus den/office, 2.5 bath, 2,533 square feet, listed for $1,195,000 Floor plan 4 – 3 bedroom, 3 bath, 2,598 square feet, listed for $1,275,000