Private Pools are popular in the Coachella Valley
Coachella Valley home prices??? What’s going on here in the Coachella Valley with regards to the end of the second quarter in 2022. While our market has slowed to a more normal pace, it is still going pretty fast. Properties still receive multiple offers, but it’s not a charge. The mortgage rate increases, inflation, and the war in Ukraine are weighing heavy on economics in general, and has slowed our home selling market down.
A large percentage of our Coachella valley home buyers are cash, and our local inventory is still very low. I have seen less activity over the past few months in the 1 to 3 million dollar price point. Most of the homes sold last year were $600,000 or higher, while 35% were sold in that price point last year, the rest were lower. As prices have gone up, cash buyers have continued to pave the way for a large percentage of our valley buyers.
The economic impact on home prices is covered in this breakdown from Corelogic. Take a tour of this amazing 35 acre date farm in Coachella. Three parcels, two homes, date packing facility, great zoning, hard signalized corner location at 52/Van Buren. $8,500,000. If you are looking to buy or sell a home, equestrian property, or land, give me a call at 760-285-3578.
