2018 Likely to set 5-year Sales Record
Happy New Year!!!
I’m hoping you had a healthy and prosperous 2017, and best wishes to you throughout 2018.
People often ask me, how’s the market?
In a nutshell, the market continues to improve with lower inventory levels, and more homes selling. Over the past 12-months, Coachella Valley-wide inventory is down 21.5%, home sales are up 22.7%, and pending sales are up 12.8%. This is the best we have experienced since the 2013-2014 recovery. As you review the attached spreadsheet, you will see that just about every area, and price segment experienced improvement in sales numbers, values, and less Days-on-Market, few were par. Dave Kibbey & Associates sales numbers increased by over $10 Million in 2017, plus we’re taking 2-5 listings per week, with 5 new properties in-escrow as I write this update. We are very busy showing our listings 7 days a week, and working with several buyers. I estimate we will exceed $60 Million in sales this year due to our high-level of client commitment, professionalism, and marketing, along with improved market conditions. We currently have $31 Million in Active Listings, with many more amazing condos, homes, and fine estate properties in the pipeline. The under $1M market has really tightened up, with lower levels of inventory, and more qualified buyers in the market-place. The luxury market has also heated up dramatically, though there are still lots of homes to choose from. Contemporary/Modern homes are HOT and continue to rule, claiming 8 out of 10 luxury home sales. Of course, Mediterranean and Traditional homes continue to sell, though these homes are taking longer to sell and usually do not drive the high price per square foot, Contemporary and Modern’s are demanding. Remember, you can log-on to Dave Kibbey & Associates real estate website: www.DesertEstateHomes.com, find Market-Updates, peruse your area, whether it be Rancho Mirage, Palm Desert, Indian Wells or La Quinta as well search for your area and price-segment. We have posted Sales Numbers, Average Days-On-Market, and Median Home Prices for all price segments in all the above-mentioned locations.
If you are thinking of buying or selling a home this year, I suggest a free consultation, so you can plan. Reach out to me today, I can help you make an informed decision as to when is the right time for you.
To view Year 2017 over Year 2016 sales figures, please click here.
Wishing you a wonderful 2018!
Best regards,
Dave Kibbey