Coachella valley bidding wars. Are we really such an incredible valley that people are moving here in such numbers so as to create bidding wars on our real estate inventory? Record high prices and record low inventory are setting the stage as buyers flow into our desert cities to buy property. Call local realtor, Kim Kelly, to help you in your search..or in listing your property at 760-285-3578.
Normally, when the economy tanks, the housing market sinks also. COVID changed this pattern by creating different work models. Remote working, wanting larger homes with more room to create safety zones, hybrid work and living spaces have allowed buyers to be more flexible in what and where they can buy. Buyers that have come to the desert in the past for vacation are buying homes here and moving here. The price point seeing the most sales is $1 mil to 2 million dollar properties. The city with the most dramatic spike was La Quinta, which was up 27.5% in it’s median sale price to $650,000.
Land and equestrian farms, multi acre potential event sites and large homes with large bedroom counts also saw dramatic increases in sales. Check out this farm, offered for $1,500,000 located a short distance from the famed HITS showgrounds. 20 acres..