Just because the weather heats up doesn’t mean the market cools down. In fact, according to data from the Multiple Listing Service (MLS), the number of sold listings in the Coachella Valley has risen year-over-year for the last three years when comparing June 1 through September 30th each year. Homes sales increased 8.1% between 2016 and 2017, 13.4% from 2015 and 2016, and 4.7% from 2014 to 2015. Comparing the same stretch of months from 2017 to when the rise began three years ago, home sales were up 28.3% (3,856 sales last year versus 3,005 in 2014). Beyond the market data, there are many excellent reasons to list your home for sale in the summer.
- Lower Inventory Means Less Competition
Yes, the summer is a hot opportunity to list, but not everyone gets the memo. There are traditionally fewer homes for sale on the market, which means that your listing will stand out.
- Online Searches Go Way Up
The heat isn’t the only thing that rises in the desert during the summer. Online web searches for homes go up as well. With Coachella Valley residents, who own about 50% of the homes in the market, staying inside to enjoy the frosty conditions offered by air conditioning, their search for homes heads online. Home searchers from out of area will also browse online listings in the summer to get a head start on their home search.
- Buyers Want to Close In Time For Fall
Homebuyers want to have the ink dry on the paperwork before the fall arrives. For locals, kids go back to school so being settled into a new place is critical. For second home owners from out of the area, having the transaction signed, sealed, and delivered means they can start focusing on setting up their vacation home and enjoying it during the peak of the season.
- Tax Season Is OVER!
Taxes have been paid (hopefully!), so some people may be breathing a sigh of relief and looking forward, while others who were lucky enough to get a refund have money to spend and may be looking to invest or upgrade their lifestyle.
- Buyers Have More Down Time In The Summer
Full time Coachella Valley residents have a bit of a lull in the summer months because of the seasonality of the market. Business is a little slower for local industries, teachers (and students) are off, and out of area buyers cash in their vacation hours to take time off in the summer to visit the Greater Palm Springs area. More down time turns into more time spent researching the market and looking for homes.
- Only SERIOUS Buyers Are Out In The Summer
If someone is looking in the middle of the summer and enduring the dry heat of the Coachella Valley, they are serious about their home hunt and are looking to move.
- Homes Feel Like Vacation!
With the sun shining, the window coverings open, and your pool sparkling and fresh, your home looks like an inviting staycation getaway that will even entice fulltime residents to act.
- Photos Are Better In The Summer
For the same reasons as listed above: Perfect sunny skies, an inviting pool, pristine landscaping, and more, your home looks its best in the summer. Now is the perfect time to take photos capturing the ultimate Southern California desert lifestyle your abode affords.
- No Holiday Decorations!
The summer months are free of the heavy decorating holidays that land in the fall and winter, making the staging process a simple transition. Your home already looks its best and you don’t have to do much to enhance its appeal, a win-win!
Low inventory, small viewing windows, and minimal time to accomplish a sale mean that buyers have more urgency to their actions. If your home isn’t listed for sale, it cannot be bought.
Our coastal markets of San Diego and Orange County are experiencing their prime real estate season this time of year, and for many of the same reasons as listed above. With the kids out of school for the summer, and working professionals taking time off to enjoy a summer holiday, the summer months are some of the busiest in Southern California. In addition, with diminished inventory and rising prices along the coast, many buyers are looking to move inland where their dollar goes farther. The stunning landscape and high quality of life the Coachella Valley offers its residents makes it the perfect place for these coastal migrants to settle. If you are considering whether now is the time to list or buy a home, contact one of our real estate professionals to help you evaluate your options.