The median price for Coachella Valley home sales rose 31 percent in April compared to the same time last year, Palm Springs Regional Association of Realtors data show. It rose to $197,040 from the $150,140 median in April 2009. Overall, sales dropped 4.5 percent last month compared to last year.
President of the Palm Springs Regional Association of Realtors, Scott Newton, said the April numbers show a market that is moving out of high-season and that inventory is getting low. "That creates higher demand," Newton said. "Higher demand creates slightly higher prices."
Out of the valley's 5,179 active listings for homes and condos, Newton said the Multiple Listing Service showed 2,058 priced at or below $300,000.
"This is a market that is starting to change," Newton said. "It is trending toward recovery."
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