PROPERTY EVALUATION (RESTRICTED REPORT)
In addition, Cathedral City has border on both sides of the Interstate 10. There are several Amtrak and bus stations within or in close proximity to the city. The typical American commute has been getting longer each year since 2010. The average one-way commute in Cathedral City takes 20.8 minutes. That's shorter than the US average of 26.4 minutes. 80.4% of commuters drive their own car alone to work, while 10.0% carpool with others, 2.6% take mass transit, 0.4% bicycle, 1.3% walk, and 3.3% work from home. Cathedral City Website, Sperling’s Best Places, Wikipedia, Trulia, Google Maps, & Zillow
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Market Analysis:
We have searched for all residential land under one acre that has sold within the last ten years within a ten-mile radius of the subject. Our survey has yielded the following information:
As one can see in the graph above, there have been few smaller residential sales within the subject’s market over the past ten years. However, there was a large increase in residential sales in 2018 with total sales volume surpassing that of the previous nine years combined. Even so, sales totaled only $3,500,000. As seen in the graph below, all sales of residential land was purchased by private users. The majority of lots listed for sale are utilized for single family homes rather than multi- family residential buildings or mixed-use projects.
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