Monday, October 13, 2014

Market Trends 2014

Greetings friends. This post marks the beginning of a new series of blogs. I will be blogging about sales trends, upcoming events, my sales activity, and real estate news for Coachella Valley. 

I often am asked, "how is the market" in your area, and I have to answer it depends upon whether you are a buyer or seller. Compared to 2013, sales are down somewhat. The good news for buyers is that interest rates are holding at very low rates. For sellers, prices are steady or going up in most areas of the Coachella Valley. See chart below. 

Price changes from 2013 to 2014 are the most interesting to me because in some areas prices have gone up quite a bit from last year, such as Indian Wells and Palm Springs, while others are almost the same or down. In La Quinta and Palm Desert, the Average and Median Sales prices are down while in all other areas they are up. La Quinta consistently has the most number of Single Family Home sales and Palm Springs has the most number of Condo sales. 

What does all of this mean? I believe it is a good time to both buy and sell here. Many of my clients are getting ready to list their homes and trade up for the upcoming season. All indications are that inventory will be on the rise and sales will be brisk through at least May of next year. I'm looking forward to a busy time and participating in many of the great events in the 2014/2015 season!


No comments:

Post a Comment