PGA West in La Quinta; huge demand!
Coachella Valley real estate update for April 2021. Pretty much the same patterns as the last few months emerged in April as well. Historically low inventory and extremely high demand continue to squeeze the market. Prices are going up, though certainly not sky rocketing here in the Coachella Valley, from Palm Springs proper, through the mid cities to the Eastern valley areas of Vista Santa Rosa, Thermal and Coachella. The sales pace is strong..if you price your home or equestrian estate properly, it WILL sell. Kimberley Kelly, a desert resident for 30 years and a Realtor for 20! 760-285-3578.
Sellers pretty much don’t have to discount their sales prices IF they price the property right. Buyers set the market values, and even though those values have risen, they still want to feel like they’ve gotten a fair shake on their new property..whether it’s vacant land, an equestrian estate, a golf course home, or a non-golf course home. Loans are still cheap, hovering around 3.2%. Anytime loans are that low, coupled with low inventory, buyers are going to have to pay more. I suspect we will see more listings coming on over the summer and into next fall, so if you miss one, don’t give up. Tell your Realtor to keep their eyes open and shoot you anything that fits your requirements.
April was slightly below March of 2021 as far as total closed homes, and yet there was still an increase of 17% in sales numbers from April of 2019. There are 658 active listings in the valley, down 77% from 2020. The average carrying time, days on the market is now 48 days, down 45% from 2020. There were 1228 closed sales, which is up 119% from one year ago, and we only have .5 months of inventory on the market, down 90% from 2020. If you see something you like, jump! If you want to sell and get a very good price, List!
This beautiful 5 acre farm with a custom home built in 2006 + a guest cottage and a 4 stall barn, is located about 35 minutes from Palm Springs, and is offered for $1,295,000.
Stalking a local Desert City Agent in the summer, sneak up on the local Market.
Coachella Valley First Quarter round up. So, here we are starting into the second quarter of 2021, and it’s time to look back at what happened in the first quarter here in the desert’s 9 Coachella Valley cities. What trends are we seeing? Is the Inventory really that low? Is it a good time to sell..to buy?? What’s happening with the loan rates? To be sure you are getting your best representation, be sure to contact a local realtor. For your own property consultation, or to schedule a tour specific to what you are looking for, give Kim Kelly a call at 760-285-3578.
It is currently a pretty frenetic housing market in our desert. The first Q of 2021 shows a market that is experiencing extreme conditions. Inventory is so low at all price points that homes are selling at or above List price. Average Days on the market is approx. 59 days. Remember that average means half sell before and half sell after. My experience in the market is that homes with desirable locations (sun/view orientation), are selling quickly, and there is MAYBE 1-2% closed price vs. List price. The average closed sales price is approx. $673,000, which is a 25% year over year increase from last year at this time. The Coachella Valley first quarter of 2021 ended with only 714 homes for sale in all 9 desert cities! That’s an 81% drop from the same time last year. A normal market has about a 6 month inventory, but we are at approx. .7 months of available inventory.
Good time to sell? Yes, if you want to get a good sales price. Good time to buy? Yes, if you want to get a good mortgage rate, and you know EXACTLY what you want to buy. Loan Rates have climbed a bit..now above 3%. but good grief, that’s still incredibly low! Take a tour of this incredible offering near the Coachella Music Festival grounds. 9.4 acre estate listed at $9,500,000
View from the arena at 10834 Union St., Cherry Valley, CA.
Coachella Valley real estate update: First Quarter, 2021 is over, and the market is still on fire here in the Coachella Valley. It feels quite different to me than the last cycle of real estate here in the Coachella Valley..because it is! I was selling new homes in 2001-2005. Screamed up, then the devastating crash that was felt pretty much everywhere, with our Coachella Valley being no different. What are the differences between then and now? For local real estate information or a free property consultation, give Kim Kelly a call at 760-285-3578.
The Coachella Valley market continues to outperform the same period 12 months earlier. Sales picked up while inventory cratered. Huge difference now than last cycle. In 2005-2007, the peak of the last cycle, sales were mostly driven by people buying home with little to no credit, on loans with little to no down! EEK! Now, fewer home son the market coupled with higher demand has created more competition for what homes are available.
Recent news about life getting closer to normal offers a glimmer of hope as far as inventory numbers. It is anticipated that alot of sellers will be putting their homes up for sale in the coming months. It is pretty much a sellers market right now, BUT, as more homes come on the market, it is going to become even more important to present your home in peak condition to guarantee that it will garner the highest price/sf. amongst it’s competition. Local information is critical!
Take the tour below of this incredible 5 acre equestrian estate in Cherry Valley, CA. Offered at $1,300,000, and with two homes, a barn, RV parking, huge arena and spectacular views..
Coachella Valley Housing Report 2020. The awesome views in The Desert.
Coachella Valley Housing Report: This report is put out by the Board and the numbers are based on the median, which is a very general number in my opinion. I don’t use the median for List prices, sales prices..pretty much anything other than a very GENERAL overview because it’s just too vague. But there is value in that too. The Coachella Valley Housing Report came out in April of 2020, so the corona virus affect has not been shown as dramatically as it will be in the next quarter. If you want an honest evaluation of your Land, Farm or Residential property, call Kim Kelly, local Realtor, at 760-285-3578.
First Q saw the median Detached Home Price rise to $440,000 and the median Attached home price settle at $299,000. More specifically, over the past year, La Quinta saw it’s median fall from $560,000 – $557,000…very slight. Rancho Mirage’s median for the Q, fell 14% to $655,000 and Indian Wells saw a fall of 19.7%, while Desert Hot Springs median rose over the past year 15% to $253,000.
Another interesting graph on the attached Coachella Valley Housing Report, is Home Sales by Price Range over the first Q based on prices. Sales prices decreased in all price brackets under $500,000. Homes priced between $500,000 and 1 million, sales are slightly higher than last year for our first Q of 2020, but for first time in a long time, there is a decline in sales for homes over a million dollars. The beautiful land below is available and I bet the seller, (if they’re on top of the market), will be flexible.
Coachella Valley real estate is slow, but not dead!
Coachella Valley Real Estate Update: April 2020. Real Estate life has changed dramatically for those of us used to fielding calls and showings all day every day. Every person in every profession I know is dealing with the same things, but each area of the state is a little different, and here in the Coachella Valley is no exception. Weather wise it’s been very mild and I’m looking forward to the summer heat! Rumor is that the virus isn’t going to like the heat..
Are people still looking??
20 acre horse business for sale in Desert Hot Springs, CA.
If you’re interested in buying a home, vacation home, piece of land, or an equestrian property, this may be the time to jump in! We do not have as many showings, as many calls, and we are having to encourage buyers and sellers to be flexible with their current contracts. Everyone is trying to figure out what’s coming, so buyers and sellers need to step back, hear the options and be reasonable! We can show property, but there are now restrictions and also disclosures for buyers and sellers.
Why buy Coachella Valley now?
Because everyone is afraid, and if a seller has a property listed, they WANT to sell. Now is the time to present a creative offer. Lower price, perhaps, but maybe it’s terms, that you structure to your taste. I’m seeing longer escrows, I’m seeing some earnest money released to accomplish that. Maybe the seller WILL agree to carry that land parcel that originally they would not consider at all. It’s always the brave ones that take the risks and reap the rewards! Take a look at this gorgeous working ranch in Thermal, 20 acres, and the seller is ready to make a deal..$1,500,000 list price.
Your Location MUST capture you..and your next buyer.
Location is just as important as ever! When I began my real estate career almost 19 years ago, I heard over and over again, “Location, Location, Location.” But, it took me years of actually working the biz, selling new homes for builders, pounding the pavements and hundreds of home and land sales to fully appreciate and understand just how important the physical location and orientation of the property is…both to the purchase of the property and to the resale value in the future. For your free property valuation, call Local Coachella Valley Realtor, Kim Kelly at 760-285-3578.
Buying OR selling, use professionals in ALL aspects of the transaction.
New Listings for 2020 Season: Is it a good time to List your Residential property? What about Land..or your Equestrian Farm? Of course it is! Here in the desert, the season is still seasonal, although the season lasts longer than it used to, it definitely lightens up during the summer. Locals such as myself love it because it’s quieter, easier to drive around, find parking and hit the local happy hours. When it comes to listing your property, the prime time is mid-October through to mid July. Heavy traffic really hits our Coachella Valley around Thanksgiving and then it’s steady through end of April. So..good time to List?? You bet!!
Buyers & Sellers of Coachella Valley real estate need to THINK!
What to do in this Market? Seems everyone is bashing the current real estate market. Media, print and TV, and streaming seems to be predicting a recession. The stock market is incredibly volatile-has been for the entire 2019. Let’s add to that the possibility of a war, and the existence of a trade war, and buyers and sellers are rightfully leery. So be careful, and be educated, and prepared…and get those deals! Call local realtor, Kim Kelly at 760-285-3578 for a REAL local real estate analysis.
Indian Wells has many beautiful communities and amazing Resident perks!
Indian Wells Update; Summer 2019. When it comes to City perks for residents, Indian Wells is hard to beat. This spotless coachella valley city of approx. 5600 residents is famous for it’s resident amenities. Ranked the fourth most financially sound California City and much of their balanced budget is focused on maximizing their residents experience. To tour Indian Wells real estate, give local Realtor, Kim Kelly a call at 760-285-3578.
Coachella Valley Land & Equestrian Properties
Land & Equestrian Property Activity. Coachella Valley land and Equestrian properties are seeing continual activity. Of course, the growing zones north of I-10 are selling, but there have been other recent movements in the Valley. If you’re looking to buy or sell your Farm, land, Ranch property, give local Realtor and Equestrian, Kim Kelly, a call at 760-285-3578.