The December 2022 local market reports and statistics are now available for Yucca Valley, Joshua Tree and 29 Palms.
The trend continues toward a market correction after the highs of the past two years, with prices levelling out and days on market expanding, and an average of 50% of listings experiencing a price reduction before going pending.
December 2022 sales in the Morongo Basin were modest, with 43 closed SFR transactions (Yucca Valley: 12, Joshua Tree: 16, 29 Palms: 15), which is a change of more than -60% below December 2021. Yucca Valley had a median sales price in December of $338,000, a median of 65 days on market, and a sales-to-list-price ratio of 98%. Joshua Tree had a median sales price of $385,000 with a median of 28 days on market, and a sales-to-list-price ratio of 99%. 29 Palms had a median sales price of $265,000 and a median of 41 days on market, and 95% sales-to-list-price ratio.
Listings continued to grow as we move into a more buyer-centric market, with Yucca Valley ending the year with 110 active SFR listings, an 86% growth, with a median list price of $467,250 (down 7%) wth 54% of those listings being reduced at some point during their list period, and a median 79 days on market. 29 Palms finished 2022 with 10 active SFR listings, a 33% growth with a $312,000 median list price (up 13%), with 54% of those listings being reduced and a median 75 days on market before going pending or off market. Joshua Tree had 87 active SFR listings in December, a 181% growth, with a median listing price of $480,000 (-23% down), 66 days on market and 43% of those listings being reduced during the listing period.
For year over year comparisons, there were 426 SFR transactions closed in Yucca Valley in 2022 (-30% from 2021), with a median price of $410,000 (a 15% increase from 2021); and a median of 15 days on market. Joshua Tree saw 203 closed SFR sales in 2022 (-25% from 2021) at a median price of $485,000 (up 14% from 2021), and a median of 12 dqys on market. 29 Palms had 422 closed SFR transactions in 2022 (-21% from 2021), a median proce of $295,000 and a median of 15 days on market.
Below you'll find the buyer's guides, YTD and December Market reports as well as the seller's guides and County Inventory report for you to download and share.
December 2022 Local Market Reports:
YTD 2022 December Local Market Reports:
San Bernardino County Inventory Report, December 2022: