Thursday, October 23, 2014

Indian Wells Market Trends

Looking at Indian Wells September sales we can see that listings have gone down slightly from this time last year. The number of sales are up by only one home, from 11 to 12. Average sale prices are down from last year but average sq. ft. price is up by over $100/sq ft. Homes are on the market for more days this year overall indicating sluggish sales. Hopefully buyers will be coming into town for season ready to purchase their dream home in beautiful Indian Wells. 

I have seen quite a bit of activity this year in Mountain Cove, a lovely little enclave south of Hwy 111 and nestled against the hills. The toughest part of selling in there is that it is on leased land. Leaseholders are Ryan Oil and Indian Wells Holding Company. It looks like there will be more opportunities to buy out some land leases soon, which will help sales in there tremendously. There are already a few homeowners that have exercised their option to buy. In November a meeting will be held to discuss options. I'll post an update when we know more. 

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