Coachella Valley real estate update update
Coachella Valley real estate update: In the past two weeks, the inventory of homes in the Coachella Valley decreased by 184 homes, another 6% decline. Coachella Valley demand in the past couple weeks decreased from 579 to 570 pending sales, down 9, which is 2%. Year over year, the Coachella Valley inventory is up by 768 homes or 32%. Demand is up by 27 pending sales or 5%. DOM last year was 132 days, much faster than today. The median sales price in June was $602,895 vs last year when the median price in June was $590,000. (Courtesy of Kevin Wahlstrom of Lawyers Title Co.) For information on your personal property, give local agent, Kim Kelly a call at 760-285-3578.
Whenever I meet with a potential seller, I immediately help them understand what the market looks like for THEIR particular property, whether it’s residential, land or an equestrian farm. Each property is unique. A good agent has to assess the property type, the area of the valley it’s located in, the community it’s in, any other comparable communities, and the most important part, your agent MUST be honest with you. I do not take a listing if a seller is not cognizant of the current market. Remember that an agent makes more money, the higher the sales price, so we WANT to sell your property for it’s highest and best price. However, a good agent will help you use all the information and price the property where it will drive traffic, and produce an offer.
Listen, ask questions, and do not list your property if you do not want to sell! Can you afford to keep it? Would it be smarter to lease it? What are your tax consequences if you sell now vs. selling later, or perhaps even carrying a note back for the buyer? Take a tour of this incredible 4 acre custom estate in Bermuda Dunes offered at just $2,799,000.
