The Coachella Valley real estate market is in an interesting position. Yes, sales activity has been hampered by the outbreak of the coronavirus. Yes, we are coming into our summer season – traditionally a slower time for the market. So, why would NOW be the time to list a home for sale? We have a few excellent reasons to make the case that it is the perfect time to put your home on the market:

1. Demand: According to several industry sources, homebuying demand is up by 25% over pre-pandemic levels (based on loan applications). Those buyers who normally start looking around late winter/early spring have had to sit on the sidelines to wait out the virus before proceeding with their plans. With economies opening back up and people returning to the workforce, this pent-up demand for housing creates an opportunity for sellers to maximize the return on their investment. You will be able to capitalize on this trend if you can get your home on the market in the early stages of this rush.

2. Scarcity: Comparing the year-over-year numbers in June, inventory in the Coachella Valley is down by almost 17.5%. This is tracking consistently with previous months, even before our economic shutdown. In fact, it’s slightly better than the number reported at the end of Q1 2020, which was edging toward 19%. As the laws of economics indicate, low supply coupled with high demand will lead to an increase in price. If you have been on the fence about listing your home, NOW is absolutely the time to commit.

3. Affordability: As it stands, the cost of borrowing money is at an all-time low, with rates hovering around 3%. These low rates will entice more buyers into the market and stir up demand. As more buyers are able to access and fund loans at a cheaper long-term cost, the buyer pool for your home could become larger as buyers can afford more with their monthly budget. Additionally, the Coachella Valley is still one of the few areas in Southern California where homes are affordable for first-time homebuyers, unlocking another key buyer type who could potentially be in the market for a place just like yours.

4. Conditions: As the demand for more space and less congestion rises, fallout from the coronavirus pandemic, our local desert communities are as appealing as ever to people coming from more populated areas. Additionally, many large employers are becoming more flexible with telecommuting, granting greater freedom to workers around where they can live thanks to technology making it possible to conduct daily business activities. Many Bennion Deville Homes agents have already reported a surge in clients purchasing homes in the Coachella Valley from the key coastal drive markets of Los Angeles, Orange County, San Diego, and even from San Francisco and other Bay Area communities.

5. Appeal: Let’s face it, the Coachella Valley is like no other place in Southern California. The lifestyle is sublime, the natural splendor is inspiring, and the cost of living is a fraction compared to other Southern California markets. Although our area has long held appeal as a vacation destination and resort market, there has been a rise of full-time residents over the last several years as word gets out about our beautiful desert area. With world-class amenities and events, short drives to other notable destinations, and an airport that feeds to major domestic and international markets, there is always something fun to do in town, or a quick jump to other exciting places should you decide to explore beyond our desert’s borders.

If you are thinking about buying or selling a property, we would love the opportunity to be a part of your process. Please connect with your local Bennion Deville Homes agent or contact us to start exploring your options. We look forward to unlocking possibilities for you.