Did COVID affect coachella valley sales? The short answer is Yes! The hows and whys are a bit more involved, but it does feel to those local desert dwellers and realtors, such as myself, that it has affected our sales in a positive way. We were on the way to strong sales before it hit due to low inventory in every price point, but when the Virus hit, even more options presented themselves to buyers..thereby influencing sales. For a FREE consultation on your property value, land, equestrian or residential, call local realtor, Kim Kelly at 760-285-3578.
When the virus first hit, the phones quit ringing..for everything, and real estate was no exception. However, after the first 6 months or so, we started seeing an emerging trend..buyers were returning to look. Then they weren’t just looking, but they were buying. Year round homes for those who had always thought about it. Vacation homes for those who love it here in the Coachella Valley, and suddenly were craving more distance between their neighbors. Investment properties. Then the land and equestrian properties because land is still cheap, and again..space.
A year later, inventory has been ravaged in all price points. Residential properties sell almost as soon as they are listed, often with multiples, and this trend is not limited to any one price point..all are selling. Low inventory coupled with historic lows in mortgage rates combined to drive up sales through the Coachella Valley cities. Another factor is that even though our prices did go up, they did not sprint up. Even now with the low inventories, it is still a reasonable price/sf., and price/acre that is helping to drive continuing sales. Summer is a great time to sell your property, and our summer sale numbers traditionally beat the seasonal numbers..contrary to what many people say. Take a look at this beautiful equestrian farm that would also make a great event facility in Thermal, California. Just a couple miles from the Coachella Valley music festival grounds sits Valor Farm..