Home Prices & Values in Indio - A Look at 2006, 2009, & 2014
I started my real estate career in 2003, right around the time real estate in Southern California started taking off like fireworks on the 4th of July. Back then real estate was more like taking fast food orders than anything else.
In Indio, real estate home values peaked during 2006. As with most things, what goes up must come down. We saw a gradual decline in prices before everything seemed to come to a complete halt. Then home values came crashing down. Home values dropped to their lowest level in 2009. Like everyone else in the country, I trudged along and thankfully managed to survive.
On the Rebound
Something changed in 2012. Inventory levels in Indio came to a screeching halt. With such low inventory levels home buyers were faced with multiple counter situations (by this I mean 10 - 20 offers on one home) and homes were selling for $20,000 - $30,000 over the asking price. Stats for the neighborhood of Talavera in Indio looked something like this: Active listings 5, Pending 22, Sold 26. With the low inventory levels home prices began to take leaps and bounds with 20 to 30 percent increase in sale prices in less than one year. There was a light at the end of the tunnel!
In 2014, home values in Indio have seen a huge recovery. There are few foreclosures on the market and minimal short sales. More than anything else, there are standard equity sales! One common question I'm asked is, where do home values stand now, compared to the height of the market in 2006?
Lets take a look back at the home values and actual sales in a select number of neighborhoods around Indio:
| 2006 | 2009 | 2014 |
|---|---|---|
| $383,000 | $172,000 | $263,00 |
| 2006 | 2009 | 2014 |
|---|---|---|
| $365,000 | $145,000 | $235,000 |
| 2006 | 2009 | 2014 |
|---|---|---|
| $355,000 | $128,000 | $215,00 |
We are not quite there yet but by 2016 I think many communities around the Coachella Valley could be back to where the market left off in 2006. Lets face it, home ownership has always been one of the best investments a person can count on. Real estate markets are cycles and will always go up and down but if you are investing for the long term, you should feel relatively safe. Lets hope the next down cycle won't be so dramatic. 
If you have any questions on home prices in Indio, please call/text me at 760-574-8486 for a personal consultation.
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