Coachella Valley real estate update
Things are hopping here in the Coachella Valley to end 2021 and begin 2022. Not exactly news since real estate is selling pretty much everywhere right now. Residential listings do not sit on the market unless they’re so extremely over priced for their community that it just doesn’t make any sense for a buyer. The most interesting thing from my perspective is all the NEW money and buyers coming into our Coachella Valley..in particular the Eastern Coachella Valley.
Our beautiful Eastern Coachella Valley cities of Vista Santa Rosa, (which is unincorporated), Indio, Thermal, Coachella and even further East are drawing a lot of investment. The land is still relatively inexpensive, it just isn’t that “far out”, as people once thought, and the development and activities moving Easterly continue to expand.
My vacant land listings are generating interest, showings, and sales. The price/acre hasn’t changed much, except that any land listings that are more Westerly..meaning closer to La Quinta amenities and nearer Coachella Festival grounds, have risen. There isn’t a lot to choose from; certainly not if the location is close to the famed Coachella Music Festival grounds and polo fields.
Some recent changes in our Eastern Coachella Valley are the following..
- Empire Polo Club no longer will host actual polo games. Goldenvoice has leased the Empire Polo Club grounds through 2050. They will be having events year round!
- Eldorado Polo Club right next door to Empire is already owned by Goldenvoice, but there are currently no plans to end the seasonal polo tournaments.
- There are several water parks planned. Not sure what stage they are in with them.
- There is a private golf course currently under development in Thermal.
- The Jacqueline Cochran airport has had extensive additions and renovations over the past several years.
- Multi acre properties in the county are generating strong sales. This is mostly due to local city ordinances limiting short term rentals and events, pushing buyers to the County.
Take the tour of this incredible listing at 54250 Monroe St., Indio. It’s 9.4 fenced, secure and gated acres a walk or bike ride away from the Coachella Valley festival grounds. Listed at 9.5 million and generating a strong short term lease return, this property is a great investment!