Coachella Valley Real Estate By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!
Coachella Valley Properties By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!

Market Reports

The summer of waiting

Summer of waiting in the Coachella Valley

The summer of waiting here in the Coachella Valley.

The summer of waiting.  I thought it was just the Coachella Valley, but now at the end of the summer, it’s clear that it is not a localized phenomena.  Buyers and sellers alike are “waiting”  For what?  I’m hearing they’re waiting for the election to be over, for I rates to come down, for more inventory to come on.  Guess what?  If all the buyers and sellers are waiting, won’t that mean there will be more buyers coming out at the same time, competing for more inventory yes, but our inventory is so low, and buyers tend to focus on the same things out here in the desert.  Hmmm..I have no idea what’s going to shake out, but it just feels strange.  Local agent/realtor, Kim Kelly 760-285-3578.

Most of my out of area buyers believe there will be a deluge of inventory here in the Coachella Valley.  That will mean they have more choices, and that the sellers will be more motivated to give them a “deal”.  I sure hope they are right.  From my point of view as a local realtor for 23 years, it means that the properties with the great locations, sun exposure, good floorplans, at the club or local area they want, will still be the ones the buyers are chasing.  Those sellers will not have to lower their prices.

Local sellers are choosing to hold back their properties until I rates go down and the elections are over, because they believe there will be more buyers competing for their properties.  They are probably correct.  We are a seasonal locale, and buyers are pretty much looking for the same product.  The good ones always sell!  I don’t know what the solution will be, but I suspect 2025 is going to come out roaring in the real estate industry.  Take a look at this home in the La Quinta cove that will be available in mid October. 

 

More

Should I list now??

Should I list now in the Coachella Valley?

Should I list my Coachella Valley home now, or wait?

Should I list now?  A good client and friend of mine has decided to sell..but when?  The Coachella Valley, like many real estate market right now, is sitting.  What I mean is buyers are waiting, and sellers aren’t that flexible on their prices.  If you are looking to buy or sell in the Coachella Valley, give local resident and agent, Kim Kelly a call at 760-285-3578.

Whether the market is a buyers market or a sellers market, the time you choose to list your property for sale depends on multiple factors.

  1.  Do you need the money now, or can you wait?
  2. There is no crystal ball pointing to what will happen in the future.  Your realtor, no matter how experienced, cannot predict what WILL happen.  There could be a natural disaster, a war could break out; many things can influence the market.
  3. Review the comps carefully.  How have homes like yours been moving in your area?
  4. In the current market, buyers are waiting.  Two factors seem to be influencing their decision.  The election and Interest rates.  Boots on the ground, meaning lots of traffic through your house, may not be happening right now.
  5. If you decide to wait to list after looking closely at the market, understand that there is no guarantee the market will go up.  It could just as easily go down.

In my local market, here in the Coachella Valley, price the property correctly, and the sellers still need to be open and flexible with offers.  Our seasonal population starts arriving about mid October, so if you can wait for season, there will definitely be more eyeballs on your property.  Price it right, be patient, and most of all don’t get insulted, but rather, respond to every offer!

 

More

Market Snapshot; Coachella Valley cities

what's changed in the Coac;hella Valley real estate market?

Indoor outdoor living in the Coachella Valley!

Market Snapshot; Coachella Valley Cities:  Time for a quick recap for each Coachella Valley city.  Information gathered from the MLS, and it’s brief.  Overall city inventory, median days on the market, and median list price.  I have never put a ton of stock in the median numbers as they mean half above and half below, median in the middle, BUT if you follow these bi monthly snapshots, they do show some general info. on each desert city.  If you are looking to buy or sell your land, house, or investment opportunity, call Kim Kelly at 760-285-3578.

 

Palm Springs:  315 homes in inventory.  Down 9%  DOM:  77, up 22%  Median List Price:  $1.29 mil, down 6%

Cat City:  114 homes, down 3%.  Median DOM:  74, up 6%  Median List Price:  $600k, down 2%

Rancho Mirage:  167 homes, down 7%.  Median DOM, 70 0% change,  Median List Price $1.25 M, 2% down

Palm Desert:  211 homes, down 17%.  70 median DOM, up 11%, Median List Price $769k, down 3%.

Indian Wells:  38 homes in inventory, median DOM is 81, up 29%, Median list price of 2M, up 5%

La Quinta:  277 homes in inventory, down 7%.  Median DOM is 70, up 25%.  Median List of $898k, no change

Indio:  306 homes, down 7%.  Median DOM 63, no change.  Median List of $624k, down 3%

Joshua Tree:  188 homes, down 5%.  Median DOM 98, no change.  Median List of $497k, no change.

Take a look at this gorgeous 9.8 acre date farm in Coachella near to the new Travertine development:  $795,000

 

 

More

Housing update; Coachella Valley

Housing Update;  Coachella Valley:  In just the past 2 weeks, the Coachella Valley home inventory fell by 29 homes or 1%.  Demand decreased by 12%.  With demand falling faster than supply, the Days on the Market for Coachella Valley increased fto 150 days, slowest level since Dec. 2022.  If you’re looking to buy or sell in the Coachella Valley, local resident and agent, Kim Kelly can help!  760-285-3578.

(Courtesy of Steven Thomas, Riverside County Housing Report.)

More

Mortgage Updates

coachella valley realtor

Coachella Valley mortgage updates.

Mortgage Updates:    Here’s to hoping for an Interest rate cut in September, but mortgage rates have come down so that’s good news!  From everything I’m reading and what I’m seeing here on the streets in the Coachella Valley, inventory is still low and prices are hanging firm.  We always have less numbers of listings in the summers, but we should have new listings hitting about mid October.  If you are looking to buy or sell in the Coachella Valley, give local resident and agent, Kim Kelly a call at 760-285-3578.

Home Price Gains are still strong:  Core logic and other major indexes such as Case-Shiller and the Federal Housing Finance Agency are seeing home price gains.  These reports still show that housing is a good investment for wealth creation.

Rising Housing Inventory vs. the Media:  Listings are up 37% from a year ago.  These increases are from very low levels as active listings are still down approx. 30% from pre pandemic levels.  This build up is very concentrated as there are only 4 states, Texas, Idaho, Florida and Tennessee, with higher inventory levels than 5 years ago.  In some parts of the Northeast, listings are down 65-75% since 2019.  Here in the desert, inventory is still tight, and demand will probably rise as I rates come down further, meaning home prices probably will not drop.

Unemployment Claims remain elevated:  Both Initial and Continuing Claims have trended higher this summer when compared to the start of the year, with Continuing Claims topping 1.8 million each week since the start of June. This shows that the pace of layoffs over the last two months has picked up at the same time employers have slowed down hiring. This weakening labor market suggests the I rate may very well be lowered.  (courtesy of Walter Neil of Franklin Loan Center, Palm Desert, CA.)

More

Coachella Valley Sold and Pending Homes

Coachella  Valley real estate market

The Coachella Valley housing market

Coachella Valley Sold and Pending Homes:  This is from the MLS data.  It is very interesting and also educational.  It’s definitely slower than it was in 2023.  Buyers are waiting and sellers are holding.  That combination does not a strong real estate market make!  But I still encourage my buyers to continue to Look and keep a tab on the market.  Then when they are ready to step into the market, they are more educated.  If you are looking to buy or sell in the Coachella Valley, give Kim Kelly a call at 760-285-3578.

Pending and Sold Coachella Valley Properties for past year

Sold Listings
This Month Year to Date
2023 2022 % Chg 2023 2022 % Chg
0-99,999 34 36 -5.6 144 181 -20.4
100,000-149,999 53 58 -8.6 225 242 -7.0
150,000-199,999 91 85 7.1 446 524 -14.9
200,000-249,999 148 148 0.0 715 885 -19.2
250,000-299,999 269 282 -4.6 1232 1549 -20.5
300,000-349,999 424 443 -4.3 1876 2361 -20.5
350,000-399,999 653 660 -1.1 2766 3475 -20.4
400,000-449,999 787 812 -3.1 3257 4337 -24.9
450,000-499,999 817 859 -4.9 3537 4399 -19.6
500,000-549,999 861 1006 -14.4 3559 4801 -25.9
550,000-599,999 866 922 -6.1 3530 4631 -23.8
600,000-649,999 937 998 -6.1 3785 4674 -19.0
650,000-699,999 793 946 -16.2 3519 4508 -21.9
700,000-749,999 783 876 -10.6 3268 4158 -21.4
750,000-799,999 797 865 -7.9 3097 3973 -22.0
800,000-849,999 639 795 -19.6 2517 3589 -29.9
850,000-899,999 616 735 -16.2 2342 3311 -29.3
900,000-949,999 463 575 -19.5 1784 2572 -30.6
950,000-999,999 383 500 -23.4 1538 2322 -33.8
1,000,000-1,099,999 530 637 -16.8 2073 2865 -27.6
1,100,000-1,199,999 504 570 -11.6 1933 2514 -23.1
1,200,000-1,299,999 497 559 -11.1 1834 2406 -23.8
1,300,000-1,399,999 403 430 -6.3 1454 1944 -25.2
1,400,000-1,499,999 293 367 -20.2 1050 1585 -33.8
1,500,000-1,599,999 289 273 5.9 946 1220 -22.5
1,600,000-1,699,999 227 240 -5.4 772 1063 -27.4
1,700,000-1,799,999 196 209 -6.2 669 838 -20.2
1,800,000-1,899,999 146 199 -26.6 522 757 -31.0
1,900,000-1,999,999 130 148 -12.2 446 578 -22.8
2,000,000-2,249,999 225 261 -13.8 849 1139 -25.5
2,250,000-2,499,999 194 195 -0.5 640 869 -26.4
2,500,000-2,749,999 135 166 -18.7 511 711 -28.1
2,750,000-2,999,999 105 96 9.4 363 471 -22.9
3,000,000-3,249,999 73 100 -27.0 274 435 -37.0
3,250,000-3,499,999 52 71 -26.8 202 298 -32.2
3,500,000-3,749,999 43 66 -34.8 164 279 -41.2
3,750,000-3,999,999 33 49 -32.7 140 246 -43.1
4,000,000-4,249,999 30 45 -33.3 101 180 -43.9
4,250,000-4,499,999 23 36 -36.1 79 167 -52.7
4,500,000-4,749,999 19 38 -50.0 80 121 -33.9
4,750,000-4,999,999 27 22 22.7 76 90 -15.6
5,000,000+ 114 195 -41.5 597 891 -33.0
Totals 14702 16573 -11.3 58912 78159 -24.6
Pending Listings
This Month Year to Date
2023 2022 % Chg 2023 2022 % Chg
0-99,999 28 41 -31.7 143 183 -21.9
100,000-149,999 39 42 -7.1 194 254 -23.6
150,000-199,999 90 100 -10.0 501 598 -16.2
200,000-249,999 151 164 -7.9 743 896 -17.1
250,000-299,999 314 319 -1.6 1453 1839 -21.0
300,000-349,999 446 466 -4.3 2029 2484 -18.3
350,000-399,999 674 819 -17.7 3392 4268 -20.5
400,000-449,999 718 825 -13.0 3304 4257 -22.4
450,000-499,999 909 1085 -16.2 4416 5393 -18.1
500,000-549,999 750 866 -13.4 3610 4523 -20.2
550,000-599,999 924 1101 -16.1 4439 5575 -20.4
600,000-649,999 821 845 -2.8 3745 4403 -14.9
650,000-699,999 871 1035 -15.8 4340 5395 -19.6
700,000-749,999 693 765 -9.4 3159 3816 -17.2
750,000-799,999 860 1039 -17.2 3832 4842 -20.9
800,000-849,999 507 633 -19.9 2291 2919 -21.5
850,000-899,999 714 836 -14.6 3045 3990 -23.7
900,000-949,999 340 405 -16.0 1486 1939 -23.4
950,000-999,999 526 644 -18.3 2282 3151 -27.6
1,000,000-1,099,999 402 458 -12.2 1787 2148 -16.8
1,100,000-1,199,999 531 559 -5.0 2264 2646 -14.4
1,200,000-1,299,999 479 488 -1.8 2004 2378 -15.7
1,300,000-1,399,999 363 368 -1.4 1495 1817 -17.7
1,400,000-1,499,999 303 339 -10.6 1189 1504 -20.9
1,500,000-1,599,999 272 243 11.9 983 1109 -11.4
1,600,000-1,699,999 213 225 -5.3 863 1002 -13.9
1,700,000-1,799,999 175 182 -3.8 717 817 -12.2
1,800,000-1,899,999 145 139 4.3 590 701 -15.8
1,900,000-1,999,999 163 153 6.5 595 756 -21.3
2,000,000-2,249,999 174 163 6.7 726 785 -7.5
2,250,000-2,499,999 188 194 -3.1 808 935 -13.6
2,500,000-2,749,999 99 113 -12.4 440 526 -16.3
2,750,000-2,999,999 129 154 -16.2 552 664 -16.9
3,000,000-3,249,999 51 51 0.0 194 253 -23.3
3,250,000-3,499,999 71 68 4.4 303 357 -15.1
3,500,000-3,749,999 36 48 -25.0 136 231 -41.1
3,750,000-3,999,999 49 75 -34.7 239 360 -33.6
4,000,000-4,249,999 10 25 -60.0 60 100 -40.0
4,250,000-4,499,999 40 31 29.0 138 165 -16.4
4,500,000-4,749,999 14 16 -12.5 67 96 -30.2
4,750,000-4,999,999 26 28 -7.1 118 139 -15.1
5,000,000+ 145 169 -14.2 665 895 -25.7
Totals 14453 16319 -11.4 65337 81109 -19.4

 

 

More

Market Update; May 2024

Triangular 2 acre property with extreme privacy, but close to Fwy!

Market Update; May 2024  The heat is on here in the Coachella Valley!  These market updates give you a snapshot for each of our desert cities, remember that the word “median” means half above and half below that number came up with this median number.  So, better to focus on the community and price point you are interested for a true read on that micro market. Pineapple Hill Ranch is a 2 acre property in our Eastern Coachella Valley, offered at $1,245,000.

 

La Quinta:  324 homes in inventory, which is up 10%.  Median days on market is 56 which is up 14%.  Median list price is $899,000

Indio:  Inventory of 350 homes, which is up 1%.  Median days on the market is 53, up 8%, and median list price is $639,000, which is down 1%.

Indian Wells:  Inventory of 57 homes for sale, up 6%.  Median days on market is 56, which is down 11%.  Median List price is $1.9 mil, which is down 5%.

Palm Desert:  Inventory of 290 homes, down 4%.  Median days on market of 70, which is up 25%, and median list price is $822,000 up 1%.

Rancho Mirage:  187 homes in inventory, down 5%.  Median days on market of 70, up 25%, median list price of $1.29 mil, down 1%.

Cathedral City:  Inventory of 122 homes, no change.  Median days on market is 56, which is up 14%.  Median list price is $624,000, which is no change.

Palm Springs:  Inventory of 328 homes, down 4%.  Median days on market of 68, down 3%.  Median list price is $1.3 mil, which is no change.

Joshua Tree:  Inventory of 205 homes, up 7%.  Median days on market of 91, up 8%.  Median list price of $499,000, down 5%.

Take the tour of 59105 Lincoln St., which is in Thermal, California.  Asking $1,245,000.  This property is gorgeous.  2 acre property with a 1960’s ranch style pool home and a 6400 sf warehouse, that is permitted and useful for so many things! 

 

 

 

 

 

 

 

More

Eastern Coachella Valley; Market Update

Eastern Coachella Valley homes, land & equestrian properties

Eastern Coachella Valley; Market Update:  Homes, land, Equestrian properties, investment properties in our Eastern Coachella Valley cities of Indio, Coachella and Thermal are all moving.  Not as quickly as in 2023, but every month, there are more buyers.  Election years are always a bit slower as we wait to see which way the election will go, and 2024 is no exception.  If you are looking to buy or sell in the Coachella Valley, give local resident and agent, Kim Kelly a call at 760-285-3578.

Indio, Coachella & Thermal market update

JUST LISTED:  81871 Sandy Ct., Indio   11 beds/8 baths on 1.3 acres   $3,950,000

AVAILABLE:  52500 Van Buren St., Coachella  5/3 ba on 19 acre date farm    $3,600,000

AVAILABLE:  14.6 acres vacant land on Jackson St./Ave. 60, Coachella     $649,000

AVAILABLE:  Organic date farm on Monroe/62nd st., Thermal     $795,000

AVAILABLE:  59105 Lincoln St., Thermal  4/3 ba pool home on 2 acres w/6400 sf warehouse $1,245,000

IN ESCROW:  1.3 acre lot on Braley Ct., Indio   $550,000

IN ESCROW:  50751 Los Palos Rd., Indio   6bed/5 ba on almost 1 acre w/pool  $2,895,000

IN ESCROW:  51185 Calhoun St., Coachella  7+ acre parcel with 3 structures  $1,500,000

IN ESCROW:  157 acres on Lincoln/60th st., Thermal   List:  $3,863,405  ($24,000/acre)

SOLD:  6 acres on the corner of Jackson St. and Airport, Thermal  $510,000

SOLD:  222 acres Ave. 44/Polk  Date farm on the north side of Hwy 10  $3,025,000

SOLD:  88055 57th St., Thermal  5 bed/5 bath on 1+ acres  $938,000

SOLD:  83743 Avenue 58, Thermal  19+ acres  $830,000

Take a tour of 59105 Lincoln St., Thermal  Beautiful ranch home with a pool and a 6400 sf permitted warehouse on 2 acres, surrounded by gorgeous farm land!  $1,245,000

 

 

More

Coachella Real Estate; report from the desert

9.7 acres on the corner of Monroe/Avenue 62

Coachella Real Estate; report from the desert.  It has been an interesting season so far here in the Coachella Valley.  Everyone says it’s “slow’.  Well that’s true in that the inventory is still low, so the buyers that are looking often just don’t have a bunch of properties to view.  However, there’s another thing that’s happening.  If you are interested in buying or selling your property in the Coachella Valley, East Valley, central, or West Valley, give local resident and realtor, Kim Kelly a call at 760-285-3578.

I just listed a beautiful property for a long time client of mine.  I was speaking to him about the hesitation of both buyers and sellers that I’m seeing this season.  He suggested to me that sellers are thinking like he is on this property.  “If I get full price, yes I’ll sell.  But if they make me an offer that is near, but below, or if the terms aren’t clean, I may just decide to keep it!”  As he says, yes, I have lots of equity and it doesn’t make sense not to take a GREAT offer.  On the other hand if I sell, I’m out of the Coachella Valley market because I can’t find anything to replace it.  Rates are high, prices are steady, so as he says, not like there are alot of “deals around.”

Coachella Valley real estate, homes, farms or land.

I do think this is part of it.  I’ve taken offers that the seller says they’ll accept, but when they get it, they change their minds.  I have buyers doing the same thing..writing a good offer, then rescinding it the next day.  People are very up and down this year.  Will this change any time soon?  I do believe that even one reduction in I rates will drive more buyers to commit, but then they will hit the same issue as buyers have now, which is low inventory.

If you are thinking of buying, and you find a home or property you like, and the purchase price is within your range, I would really think about committing.  You will be competing against more buyers when the I rate does go down.  If you are a seller, and an offer comes in at or very near your ask, take it.

 

 

More

Top 5 things consumers want in a new property

5 things for local realtors to keep in mind

Top 5 things consumers want in a new property:  Full disclosure..these 5 things came from a survey taken by Coldwell Banker.  I’m not a huge believer in surveys because let’s face it; most of us don’t even answer our phones!  But..I do like reading them and I figure there is always something interesting and pertinent to my real estate business.  Keeping up on various data, reports, surveys, and of course social media helps realtors keep up on changing ideas.  Can’t hurt!  If you are looking to buy or sell real estate in the Coachella Valley, give local resident and realtor, Kim Kelly a call at 760-285-3578.

Top 5 Things 

  1.  Price over location:  Well, this would be a switch, but also very understandable.  56% of respondents in this survey prioritize price over location.  This priority is particularly notable among women, with 60% valuing price first compared to 48% of men.  Feels like this is a direct reflection of our high prices and low inventory!
  2. Relocation:  Sellers who plan to sell their homes in the future are considering relocation, with 66% saying they plan to relocate to a different city, state or country.  I work with buyers who are thinking of re locating often.  Generally, we start with exchanging information about the area, country clubs, gathering general information on what they are looking for.
  3. Social Media influence:  This stat was startling to me..43% of consumers report being influenced or highly influenced by social media in home buying decisions.  That number is even higher among luxury consumers , with 73% saying the same.  PUt it on Instagram or Tik Tok I guess is the motto here!
  4. What is your dream property?  There is no one size fits all, other than 49% say their dream home is “mid size” with 3-4 bedrooms and 2-3 bathrooms.  Nearly a third of consumers prefer homes in the South, and a quarter favor the Northeast.  When it comes to style, the younger (18-24) is the least likely to favor “ranch” (8%) while the 55+ group is most like to favor ranch (21%).  There was a 16% response from buyers that indicated they had no style preference.
  5. Would you use a Realtor:  This one wasn’t actually a part of the survey, but I strongly believe we still have a very important role in the buying and selling of properties.   I’m working with a Calif. licensed agent right now.  She doesn’t work the Coachella Valley, and chose to work with a professional who DOES work the Coachella Valley.  I KNOW the area, and I know the comps.  We listed her property at a fair market value, and we got a full priced offer in 26 days.  We agents DO have an important role to play in the buying or selling process!

Take a tour of this lovely 9.7 acre organic date farm..just $795,000

More