Coachella Valley real estate; is it cooling? The Coachella Valley’s white hot real estate market has cooled in recent weeks, according to the Desert Sun. That’s based on two indicators, median home price and total housing inventory. Median home price dipped by 3% to $581, 500. Total inventory rose to 836, up from a June low of 654. Local realtor, Kim Kelly, 760-285-3578.
Here in the Coachella Valley, our summer is typically lighter in inventory than during the season. So, that is nothing unusual. Homes are sitting a bit longer, although luxury properties, one million and above, are continuing to be snapped up. Land sales have slowed down, also typical of a desert summer cycle, and lower priced inventory is still incredibly low. Last year, with the COVID pandemic, Coachella Valley real estate sales boomed, driven partly by all the buyers fleeing densely populated hotspots, like LA. Inventory was pretty much wiped out, especially in the entry level price pint of $300-$400,000.
With the added influx of millennials entering the market as buyers, and the return to the office plans by many major companies being put off again, and perhaps permanently, it sure feels like we will continue to see record setting sales here in the Coachella Valley. Take a tour of this fabulous luxury estate located at 52450 Monroe St., Indio. Approx. 10 acres with 4 homes, a private lake and waterfall, a barn, orchard and a 5 hole pitch and putt golf course. Available for $9,500,000.