Tuesday, August 4, 2015

New Market Stats

Windermere Real Estate has just made the 2nd Quarter home sales statistics available for Palm Springs, San Diego and Orange County areas. You can find them on their site under Our Blog/Magazines. The information can be quite useful if you are planning on buying or selling a home. 

In general the Coachella Valley is currently a Buyer's Market both in the Luxury Market and the Overall Market. With inventory still up from last year, and prices down in some areas, now is a great time to find a bargain. The report is broken down by city. In Indian Wells for example prices are down 14% from last quarter and down over 30% from last year and La Quinta is down 17% from last quarter and but down only 9.4% from last year. Compare that to Palm Springs whose average sale price rose 10.5% over last quarter and is up 13.7% from last year. 

So when one asks how the market is here in the Coachella Valley it is not such a cut-and-dried answer. 

The good news for sellers is that all indications point toward an uptick in prices in the fall of 2015 and for buyers now is the best time to buy before interest rates inch up further and home prices rise for the new season.

If you would like a full market analysis of your home feel free to contact me directly at meg@windermeresocal.com. Visit my website to learn more about me or do a fresh home search. 

Monday, August 3, 2015

Palm Springs area summer sales

With temperatures topping 109ยบ this last week we are definitely feeling the summer heat in Coachella Valley. Dramatic thunder, lightning and wind storms make it all the more exciting. Visitors reluctant to come in July and August don't always realize that early mornings and evenings here are gorgeous. The hottest part of the day is between 3:00 and 5:00 p.m. but the temperatures are in the 80s and 90s in the morning and evenings, pleasant enough to golf, walk, hike and do any number of outdoor activities, including house hunting!

This is the time when serious buyers come into town to purchase a home that can be made ready for the upcoming season. I have seen increased activity this year compared to last year and I am seeing more vacationers realizing the great summer deals not only in hotel and golf rates, but in home prices. With interest rates due to increase, now is the perfect time to buy your desert dream home.

For questions regarding the current market, contact me directly at meg@windermeresocal.com. Visit my website to see my listings or do a home search directly from the site.