March 2023 brought with it some upward trends in sales in some key cities across the Morongo Basin, as well as a levelling off of dropping prices, and a still solid sales over list price ratio in the entire basin.
Joshua Tree had the most active SFR listings in March 2023 with 100, representing a 270% growth from this period in 2022. Median list price in Joshua Tree held fairly steady at $512,500, only a -5% change from this time last year. With 64 median days on market and 46% of active listings being reduced sometime during their listing period, the market in Joshua Tree is still showing historically strong numbers with regard to listing activity. 29 Palms and Yucca Valley both had 95 active SFR listings in March 2023, a +64% growth from March 2022 for 29 Palms, and +188% growth for Yucca Valley. 29 Palms held fairly steady with a median list prce of $299,000 (only -10% change) and 47 days on market, with 40% of those active listings having been reduced. Yucca Valley's median listing proce dropped to $499,000, a -14% change, with 63 median days on market, and 58% of the 95 active listings having been reduced during the contract period.
Closed SFR sales in March 2023 were led by Yucca Valley, with 32 transactions, a -41% change from March 2022, and a median sold price of $377,000 (a -18% change), with 60 days on market, and a 96% sales-to-list-price ratio. Year to date, Yucca Valley has had 131 SFR sales (-8% change) maintained a 48% Sales-Over-List-Price ratio, and a median YTD sold price of $415,000, which is a +34% growth over the same period of 2022. 29 Palms had 28 SFR sales in March 2023, a -56% change over March 2022, with a median sold price of $297,000 (a +5% increase), 49 days on market, and a sales-to-list-price ratio of 96%. Year to date, 29 Palms has had 148 closed SFR transactions, (a +38% growth from this period last year), a median sold price of $280,000, a +41% growth, with 13 median days on market, and a 38% sales-over-list-price ratio. There were 11 closed SFR sales during the current reporting period in Joshua Tree, a -57% change from March 2022, a median sale price of $325,000 (a -44% change), with 60 median days on market in March, and a 93% sales-to-list-price ratio. Year to date, Joshua Tree has had 72 closed SFR transactions, a +20% increase from the same period last year, an extremely specific median sale price of $516,667, with 16.5 median days on market and 44% sales-over-list-price ratio for the first three months of 2023.
Downloadable and shareable graphics reports for each city are below.
March 2023 Buyer's Guides:
March 2023 Seller's Guides:
Local Market Sales Reports, March 2023:
YTD Local Market Reports, as of March 2023:
San Bernardino County Listing Supply/Inventory Report for March 2023:
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