Why Now is the Time to List your La Quinta Home
We have had a crazy year so far, and the real estate market is no different. It has been an unusually active spring and summer despite the hot temperatures and the absence of most home owners in the off season. So why would now be the best time to list your home? Here are a few reasons:
1. HIGH DEMAND: Californians are tired of staying home. They do not want to get on a plane. The desert makes perfect sense for a weekend getaway, second home, investment property, or part-time residence. LA and beach people can drive here in a few hours and have a complete change of scenery. We have mountain views, golf courses, tennis, sunny skies, and fresh air... plus a lot fewer people. Industry experts report that homebuying demand is up by 25% over pre-pandemic levels. (Based on loan applications). Considering the number of homes that are purchased with cash in the desert... the number is probably much higher.
2. LOW INVENTORY: Inventerory is incredibly low in the entire Coachella Valley, down over 17% from the same time last year. Low supply and high demand equals higher prices. I had a single-family home in La Quinta Country Club receive 5 offers in the first few days on the market, and 3 of them were over asking.
3. AFFORDABILITY: With interest rates at an all-ime low and the low price/sqare foot in our area, it is prime time for buyers to step up and purchase. Our price/square foot at La Quinta Country Club averages $250/ft. Higher end- and completeley remodeled homes and condos can fetch $300-$350/sq.ft. But these are well belowthe market prices in most neighborhoods in LA, San Diego, Beach Cities, and cities in northern California.
4. DESERT APPEAL: The Palm Springs and La Quinta lifestyle is like no other. The area has long been a place that old Hollywood, celbrities, dignitaries, and even Presidents flock to. Frank Sinatra lived here... and you know, he could live anywhere. With over 100 golf courses, world class tennis, Santa Rosa Mountains, resort style living, and warm winters it truly is living in paradise. Over the years there has been a rise in full time residents as our secret gets out about the La Quinta lifestyle. Golf in the morning, a quick swim, shopping and dining in the afternoon, and those balmy desert evenings.
If you are thinking of buying or selling in La Quinta, give me a call. I would love to assist in selling your La Quinta home- or welcome you to your new desert lifestyle!
Photos by One Point Media Group