Coachella Valley real estate update for April 2021. Pretty much the same patterns as the last few months emerged in April as well. Historically low inventory and extremely high demand continue to squeeze the market. Prices are going up, though certainly not sky rocketing here in the Coachella Valley, from Palm Springs proper, through the mid cities to the Eastern valley areas of Vista Santa Rosa, Thermal and Coachella. The sales pace is strong..if you price your home or equestrian estate properly, it WILL sell. Kimberley Kelly, a desert resident for 30 years and a Realtor for 20! 760-285-3578.
Sellers pretty much don’t have to discount their sales prices IF they price the property right. Buyers set the market values, and even though those values have risen, they still want to feel like they’ve gotten a fair shake on their new property..whether it’s vacant land, an equestrian estate, a golf course home, or a non-golf course home. Loans are still cheap, hovering around 3.2%. Anytime loans are that low, coupled with low inventory, buyers are going to have to pay more. I suspect we will see more listings coming on over the summer and into next fall, so if you miss one, don’t give up. Tell your Realtor to keep their eyes open and shoot you anything that fits your requirements.
April was slightly below March of 2021 as far as total closed homes, and yet there was still an increase of 17% in sales numbers from April of 2019. There are 658 active listings in the valley, down 77% from 2020. The average carrying time, days on the market is now 48 days, down 45% from 2020. There were 1228 closed sales, which is up 119% from one year ago, and we only have .5 months of inventory on the market, down 90% from 2020. If you see something you like, jump! If you want to sell and get a very good price, List!
This beautiful 5 acre farm with a custom home built in 2006 + a guest cottage and a 4 stall barn, is located about 35 minutes from Palm Springs, and is offered for $1,295,000.