The weather is great and the snow birds are returning! Real estate sales were steady all summer and continue to be into the fall. Several of our local cities are showing nice property value gains over last year at this time. La Quinta tops the chart with a 35% gain over last year, followed by Indio at 31%, Desert Hot Springs at 23%, Cathedral City at 18% and Rancho Mirage at 7%.
La Quinta and Palm Desert have constantly been showing the highest number of homes sold with dips in sold homes in Indio and a relatively flatter sales market in Coachella.
Foreclosures and Short Sales accounted for 60% of the house selling market 3 years ago and account for only 15% today. With few distressed property sales around it has bolstered the standard sale market and created a relative shortage of resale homes for perspective buyers.
We are also seeing virtually no seasonal rentals left for the winter. All signs that 2014 is going to be a good year to sell your home. If you are still wanting to buy, do not not fear as the prices are still pretty good, but don’t wait to much longer!