Just another beautiful day in the Coachella Valley!
Coachella Valley market shift. My sellers are SO frustrated! Why isn’t my property selling? My neighbor sold his property for more money! That may be true, but since last year, the Coachella Valley real estate market is shifting from a sellers market to a buyers market. Inventory is on the rise, properties are sitting on the market longer, and buyers simply are not motivated. Buyers are golden right now, so if a written offer comes in, accept or counter it. Don’t get insulted as a seller and just not respond. Local resident and long time agent, Kim Kelly, will give you a realistic expectation when you list. 760-285-3578.
June 2025, there were 3608 homes listed for sale. That’s up from the 2598 homes that were listed at this same time last year. Those numbers represent a 38%+ increase in inventory. When the inventory goes up, sellers have to compete with more homes comparable to their own. This often reflects a loosening up of the real estate market, and buyers have more power.
A balanced market here in the Coachella Valley, is signaled by an absorption rate of 6 months. We are now past that at 7.2 months, so properties are sitting longer. When buyers see this, they are obviously going to interpret this as, “I need to be careful as the market is changing.”, and “I’m NOT going to rush into buying. I’ll just hang out and wait, or maybe I’ll throw a lowball offer at the seller and see what they say.” There is about an 18% difference between what sellers are asking and what buyers are paying.
My advice to sellers is to be patient, price your property where it will attract eyeballs and foot traffic, then be patient. It’s just taking longer for buyers to put pen to paper! Then when you do get an offer, be realistic in your counter offer. Remember..buyers are golden right now, and more than likely will have a top number in their minds, and they WILL walk if it doesn’t come to fruition.
Take a tour of this gorgeous, custom home in the La Quinta Cove. Only listed for 30 days, asking $874,500, and generating some serious activity, 77440 Calle Ensenada, a santa fe style home on an over sized corner parcel, call me for your tour today. 760-285-3578.
