As we edge our way into the fall the temperatures have eased a bit. The crowds will soon return in droves to the valley for the first of many concerts featuring world renowned artists! The valley has so much to offer and continues to be the city of festivals adding new ones each year. This all makes the valley a fantastic real estate investment. The eastern end of the valley is still a deal for buyers and has just slowly been creeping up. We are seeing builders putting up new homes, land and ranches have been selling. While the prices are still decent they won’t be forever so now is the time!
Here are the latest sales stats:
Coachella Valley overall price increases from August 2015 -Up 4.4% for single family homes and 4.8% increase for attached homes.
8 of our desert citifies saw positive price changes from one year ago. Only Rancho Mirage had a negative gain.
The combination of rising sales and declining inventory has driven the ratio of months of inventory down from 5.7 months to 5.3 months.
The average days on the market for attached and detached homes is now 87 days which is 9 less days than the same month last year.
Difference of prices from the 2006 high and todays selling price:
Palm Springs -10% under the high sales prices
La Quinta-37.3% under the high sales prices
Indian Wells–28.6% under the high sales prices
Indio-23.8% under the high sales prices
Coachella-32.9% under the high sale price
Palm Desert-30.9% under the high
So as you can see it is still a good time to get in to the market more particularity in our eastern valley. Call me today if you are interested in making a purchase or for a value on your home if you are interested in selling!
Jessica Bailey-Realty Executives Top Producer 213-926-6471