The crowds are swelling in the valley as fall is in full swing. We are looking towards having another busy winter in the Coachella Valley. How are the deals and markets looking in each city in the valley? Here is a snapshot of each city in our great valley.
Indio-Up 74% from the bottom of the crisis. It has held its year over year gain of 3.7% Signs indicate a growth period is going to happen in this city.
La Quinta-One of the fastest growing cities showed a 16% loss in the median home price this last year. However sales nearly doubled the second quarter of 2015. Many of these sales came from new home sales. We do expect this market to see a slight gain this next year.
Coachella- An oversupply of homes for sale and a higher than normal distress sales rate makes this city only gain 38% from the bottom of the market during the crisis. We hope things improve slowly here.
Indian Wells- With the highest median household income and highest age of residents. The median home sale price has risen approximatly 24% over the last five years.
Palm Desert-interstingly 41% of the homes and 71% of the condos are not owner occupied. This city has lagged behind in the recovery of prices. We expect buyers to rediscover this area and pick up some of the better values available in this upscale community.
Rancho Mirage- Showing a healthy 41% gain from the lowest point of the market tin 2011. There has however been a 6% decline in values over the last 12 months.
Cathedral City- The youngest city in the valley with an average age of 35. This city has seen a whopping 88 percent gain in the price since the low in 2011.
Palm Springs- This community is showing record sales activity and an 80% gain from the bottom of the market in 2010. Palm springs is only 12% away from it high prices in 2006. Things look to continue in an upward trend in this community.
For a value on your home or to make a purchase in the Coachella Valley give me a call! Its a great time to make it your home!
Jessica Bailey
Realty Executives-Top Producer-Executive Club-100% Club
jessiebaiileyus@yahoo.com
213-926-6471