Coachella California Homes for Sale
In 2006, the housing market cooled in Coachella, California. Homes for sale in the area increased in number and in the days they stayed on the market. As people seek Coachella, California homes for sale, overnight gives way to liberal incentives for buyers indicating a downturn. However, a surge in sales and renewed interest from buyers in Coachella California homes for sale in December 2006 and January 2007 could be a signal for an upturn in the market.
New year-end statistics show that Coachella, California homes for sale priced mid-range in the $600,000s were slow to move, while higher end priced homes at $1 million or more continued to sell. Cathedral City and Indio are among the top cities in Coachella, California for homes for sale in terms of what the national Multiple Listing Services defines as entry-level homes. Entry level Coachella California homes for sale are considerably priced at $ $500,000 or lower.
In terms of homes receiving their asking price, Coachella California homes for sale also ranked high. Again, Cathedral City and Indio were in the top, while Desert Hot Springs was first. Sellers in Cathedral City got an average of 97.5 percent of their asking price, Indio received 97.7 percent and Desert Hot Springs received 98.2 percent according to statistics compiled by Real Data Strategies and the California Desert Association of Realtors.
The popularity of Coachella, California homes for sale comes as no surprise to realtors who speculate that because it is a premier resort destination, Coachella Valley will continue to stimulate home sales as baby boomers begin to retire. With only a two-hour drive from Los Angeles, San Diego and Orange County, the area has a large number of second homes, specifically in Palm Springs.
Source: The Desert Sun, “Rebounding Home Sales, Experts say 2007 Forecast’s brighter for mid-priced homes” (February 11, 2007)
The Desert Sun, “City Home Sales in Top Tier: Trails DHS for best entry-level price” (February 16, 2007)
City of Palm Springs – City Profile
Interested in buying or selling a home in the Coachella Valley area? Contact Patrick Stewart Properties.