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If you have thought about waiting to list or buy a home in the Coachella Valley after the holiday season, I am going to give you a few reasons you may not want to wait.
I’m Josh Jelmberg with the Jelmberg Team and though we sent out a market update in the last week or two, we felt it was important to inform you of a potential opportunity. If you have been following our market updates then you know we remain at record low inventory for the Valley. Over 66% lower than pre-pandemic levels. Real Estate professionals are clamoring for that normal bump in inventory we see as the season begins. Internally we have been keeping an eye on a pre-season increase in inventory prior to the holiday season. We did see inventory pick up about 14 days ago, but a frenzy of buyers swooped in and took these homes back off the market. We felt this internally as well, as we have helped 12 buyers in the last 2 weeks get a home in escrow and listed and sold 9 homes in that same time frame.
“…interest rates that have been creeping up in the last few weeks, pointing to a trend going forward into 2022 that buyers don’t want to wait for. ”-Josh Jelmberg
This flurry of activity could be tied to interest rates that have been creeping up in the last few weeks, pointing to a trend going forward into 2022 that buyers don’t want to wait for. Experts predict an upward trend through the end of 2021 and into 2022, with one of the leading indicators being the annual U.S. inflation rate hitting a 30-year high in October.
Regardless of the reason, sellers have a unique opportunity. Though Valley-wide inventory is down 66% there are many communities that are currently 90% lower than pre-pandemic levels. Now, I know, listing a home during the holiday season is not ideal, we have heard this from many clients, and I get it. But we have been informing our current and past clients exactly what I am sharing with you. There is a real opportunity to beat that inevitable inventory increase that will hit after the New Year. And there is a good chance we could drastically reduce traffic through your home as our agents are likely already working with a potential buyer for your property. One in three of our listings are sold by a Jelmberg Team agent.
So, if you planned to list your home and just didn’t want to deal with the hassle during the holidays, give your Jelmberg Team agent a call and let them fill you in on what is happening in your neighborhood right now, and how our team can sell your home for the highest price, in less time and with less hassle.