Coachella Valley Cities Residential Real Estate Year-End Report 2019
Luxury Homes Selling Above Average and Median Prices, while Homes under $500,000 Slip Just a Little.
I’ve been evaluating the Coachella Valley residential home market now for several years, and it is truly a very diverse and interesting market. Primarily, it is a retirement and vacation home market, thus, it is at the mercy of national and global economies more so, than many other places.
Good news is, that the U.S. stock markets are breaking records, providing middle and higher income families with the means to purchase their dream retirement and family vacation homes. Perhaps that is why prices at the higher-end of the markets almost across the board in Greater Palm Springs are on the rise. Cities like Indian Wells, Rancho Mirage, and La Quinta are leading the pack, with increases of from 6% to 11%. If the economy continues to do well, most likely there will be more homes sold and prices could continue to rise.
Don’t get left behind. If you are thinking of buying or selling your home, now is the time! Call me.
Indian Wells has an affluent population of about 5,440 that with a median age 67.8 years old, has the largest and oldest population in the Valley. That may account for the 28% increase in the number of homes on the market in 2019 compared to 2018.
Clearly, there are many people waiting in the wings to purchase these well-appointed and pedigreed homes. The sales figures for 2019 back that up. The Number of Homes for sale increased by 6% in 2019. What’s more, the Home Sold Prices for homes there increased by 11%, to an average of $1,367,321; by far the highest of any other major city in the Coachella Valley.
If you are looking for a home lived in previously by a Hollywood celebrity, Entrepreneur, or U.S. president than give me a call.
Not to be outdone, the City of La Quinta is taking home the honors of being first in total Home Sales Volume, $864,305,324, to be exact. Sounds like a nice round number to me.
La Quinta’s impressive sales volume may have something to do with what I call, and have wrote about, ‘The Celebrity Factor.’ La Quinta is located in the pocket of staggeringly beautiful mountain ranges, and desert terrain, and is only half-hour from Palm Springs, and is nearby many of the Valley’s biggest and most well-attended international events: Coachella Fest, StageCoach, BNP Paribas Tennis Open, American Express PGA Desert Classic, Eldorado and Empire Polo, to name just a few.
Average and median home prices are at the high-end of the market, but, there are communities like Trilogy at La Quinta, a 55+ gated, golf course neighborhood of 1238 beautiful homes. Nestled close to the Coral and Santa Rosa mountains, the sheer beauty and amazing amenities makes Trilogy La Quinta, one of the best values in the entire Coachella Valley. With home prices ranging from $350,000 to $745,000, there is a home available for everyone. If you are not a Kardashian, or Larry Ellison, you may want to check it out. If so, give me a call!
Gorgeous Trilogy La Quinta Golf Course and Mountain View Home – 81578 Ulrich Drive
This one at 81578 Ulrich Drive, is the perfect retreat offering nothing but the best in custom quality features and amenities. A custom, golden stone-stacked pool right out of the pages of Architectural Digest, with three cascading waterfalls, and spa is the perfect way to relax after a day on the golf course, or after winning your tennis tournament. This home offers all the bells and whistles needed to make your life in the California desert sun absolute perfection!
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