Price is still the driving force in the Coachella Valley market. Fantasy pricing doesn’t cut it with market-savvy buyers. The properties that are selling are the ones that are priced correctly, using current, accurate comparables. In fact, on right-priced homes, we’re even seeing some multiple offers – a great indicator of market health.
We’re also seeing an uptick in the luxury market – homes priced at $1 million and over. Last year, this segment accounted for about 2.5% of sales; today we’re up to about 3.5%. In “normal” market conditions (raise your hand if you remember normal), about 4.5 to 5% of sales come from the upper end. So we’re headed in the right direction!
If you’re considering a move, now is the time to put your property on the market. I would be happy to provide you with comps and to talk with you about getting your home sold. If you are looking to buy a home now is a great time before interest rates go up!!!! Lets make it a great 2011 Season!!!