Donna’s Trilogy La Quinta Market Report: Jan-March 26, 2020

Trilogy La Quinta and City of La Quinta Real Estate Market Report

Jan.1 – Mar. 23, 2020 vs. Same Period 2019

Year-Over-Year, January 1, through March 23, 2020, the real estate market in Trilogy La Quinta experienced a (+37% ) increase in the Number of Homes for Sale, similar to the increases of inventory seen throughout the eight major cities of the Coachella Valley.

The Number of Homes Sold in Trilogy began the year with very strong sold and pended numbers closely mirroring the sales boom that was taking place throughout the Coachella Valley, pre-Covid. It wasn’t until March that Trilogy began to see the number of homes sold begin to slip as a result of buyers nervous about stock market losses and the unpredictability of future financial and health concerns.

Fundamentals of a Booming Retirement Market

Certainly, there are many factors at play that impact our residential home market, such as a strong national economy, high employment, and consumer confidence. But, dig deeper…there is more to it.

For example, market data in major employment centers like Seattle, reveal that Gen X and Millennial generations are snapping-up family homes, just as thousands of Baby Boomers are finally ready to retire. Thousands of Boomers had to postpone retirement due to the financial impacts of the 2007-2011, recession that added to an already low inventory of homes, in an area of high employment. This shortage of inventory continues to push housing prices higher, making it a financially lucrative time for Boomers to cash out their homes and invest those healthy gains in our Coachella Valley market. 

Therefore, it is my prediction, that the existing pent up demand by Boomers to retire, sell and move, will be made even more so due to the Covid-19 pandemic. Once passed, there could be an even greater desire and urgency by Boomers to move to popular retirement destinations, like the Coachella Valley.

Prepare Now to Catch the Wave of Buyers 

Being stuck at home, this is the perfect time to plan and prepare your home for sale.  In Trilogy especially, home buyers are picky, and look for homes first that are clean and well maintained. It’s a good time to do those things that tend to be put off until the last minute. For example:

 

• Make an inventory of needed repairs and cosmetic fixes. Fix what you can now. Be ready with your list when it becomes safe to do the rest. Get contact information for needed repair persons. 
• Clean out and organize closets. Bag unwanted clothes, shoes, etc.
• Shred unnecessary papers and documents.
• Make sure landscaping and outdoor patios, front doors are attractive.
• Sit back and relax, knowing that you can be one of the first to sell your home when the buyers start jumping back into the market.

For more information visit HGTV’s Ultimate Guide on Setting the Stage for a Perfect Sale and my blog, 5 HOME SELLER STRATEGIES FOR STAGING YOUR HOME PERFECTLY

Everything You Want…All You Need to Live Your Best Life, Now!

• XL premium golf lot;
• Large, professionally designed pool of desert gold stacked-stone with 2 cascading waterfalls and soothing spa;
• Custom Granite Fire pit table;
• Customize your outdoor ambiance by changing pool light colors, yard lighting;
• Bose sound system inside and outside;
• Extensive custom patio decking designed from the pages of, ”Architectural Digest;” 
• Distinctive interiors offer comfort and luxury. 10 ft. ceilings;
• 6” custom baseboard, and walls of windows capture spectacular views;
• Electric window sun shades in living room, master BR; imported flooring;
• Built-in custom wine refrigerator.