Palm Springs area median home price increases year over year

September 26th, 2013 | by Dominique Fong | Comments

A real estate sign is seen in Palm Springs in a 2011 file photo. (Michael Snyder, The Desert Sun)

A real estate sign is seen in Palm Springs in a 2011 file photo. (Michael Snyder, The Desert Sun)

The median price of homes in August rose year over year but saw a slight dip from July, according to new DataQuick reports.

DataQuick reported the median sales price for August was $250,000, down from July’s median of $257,000 but a 25 percent increase for the Coachella Valley from August 2012.

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Higher home prices translated to fewer home sales. There were 864 home sales in August, down from 894 sales in July across the Valley and down 1.4 percent from last year.

The most expensive home sold in August was a $5.2 million single family house in La Quinta. The most expensive condo sold for $1.2 million.

New construction saw 65 sales with a $367,000 median sales price, a 32.7 percent increase year-over-year. July had only 28 new construction sales.

DataQuick is a San Diego-based real estate firm that uses public records to provide a monthly overview of the Coachella Valley’s housing market.

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