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Saturday, November 23, 2024

What happened to the median home price in Cathedral City during the second quarter of 2021?

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The median sale price of a home sold in the second quarter of 2021 in Cathedral City rose by $51,000 while total sales increased by 213.8%, according to BlockShopper.com.

From April through June of 2021, there were 182 homes sold, with a median sale price of $400,500 - a 14.6% increase over the $349,500 median sale price for the same period of the previous year. There were 58 homes sold in Cathedral City in the second quarter of 2020.

The median sales tax in Cathedral City for the most recent year with available data, 2019, was $3,387, approximately 0.8% of the median home sale price for the second quarter of 2021.

The following table compares Cathedral City to other Riverside County cities with similar median sale prices in the second quarter of 2021:

CityApr. - June 2021 Home SalesApr. - June 2020 Home Sales% change (Total Home Sales)Apr. - June 2021 Median Sales PriceApr. - June 2020 Median Sales Price% change (Median Sales Price)
Moreno Valley405200102.5%$430,000$350,00022.9%
Indio33987289.7%$427,000$318,00034.3%
Aguanga 132550%$425,000$360,00018.1%
Perris18385115.3%$410,000$340,00020.6%
Lakeland Village143366.7%$407,500$290,00040.5%
Cathedral City18258213.8%$400,500$349,50014.6%
San Jacinto1457690.8%$400,000$302,00032.5%
Hemet453195132.3%$357,000$280,00027.5%
Thousand Palms9728.6%$335,000$289,00015.9%
Coachella372548%$318,000$265,00020%
Desert Hot Springs18377137.7%$310,000$236,00031.4%

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