We are in mid-June in the desert, today’s temperature will be 109 degrees, and summer is here. It will probably remain above 100 until mid-September, which means that most of the seasonal residents have left town, or will very shortly. And, while we still see potential buyers this time of year, there are not many of them and they are usually looking for an extremely good buy.

Question of the Month:
What is the outlook for the desert real estate market?

For the high-end and luxury market, this summer will have normal summer activity. There will be homes that sell, but not the numbers we see in the season. As we get into next season (November) or possibly after the 1st of the year, I expect to see better sales activity than we saw this past season. There is still too much inventory, which needs to be absorbed.

Since it takes 18-24 months to build a custom home from start to finish, there are still many completed homes for sale that started when the market was better, and haven’t sold yet. Once this part of the inventory is worked thru, the market should be more stabilized.

The good news is that my business is actually ahead of last year at this time, and looks like it could easily finish the year more than 10% higher than 2006. And, regarding the article on the 10 most expensive desert homes sold in May, I actually represented 3 of the Seller’s and 1 of the Buyer’s out of those 10!

This month I have included the following articles for you:

If you have any questions regarding the real estate market in the Coachella Valley, please feel free to give me a call. Thank You for your continued support.

Best Regards,
Bruce