Changes continue in the Morongo Basin market as inventory increases level out price growth and median days on market begin to rise as well as the percentage of listings that have reduced prices.
Yucca Valley has experienced a 71% growth in Single-Family Residential (SFR) listing inventory in 2022, with 130 SFR listings active in July 2022. A year-to-date median price of $475,000 holds fairly steady with only -1% price growth, with 52% of active listings experiencing a price reduction. Joshua Tree shows a 123% overall increase in SFR inventory in 2022, with 89 SFR listings active in July 2022 and a median price of $499,000, which represents a -15% growth in price year-to-date, with 52% of those listings having had a price reduction since being listed, and a median days on market statistic of 52 days.
Twentynine Palms is the only major area city whose market shows an opposite trend, continuing to show a positive price growth for 2022, with 31% growth in listing price year-to-date. With 124 SFR listings in July 2022, representing a -97% growth in 2022, 29 Palms SFR listing inventory has experienced a substantial decrease, with 39 median days on market and 56% of existing active listings having been reduced in price since being listed for sale.
Shareable graphics for each major city area discussed above are available below, including Buyer's Guides, Seller's Guides, Monthly Market Statistics and YTD Market Statistics.
Seller's Guides:
Buyer's Guides:
Monthly Market Statistics:
YTD Market Statistics: