Indian Wells Real Estate
Homes and Real Estate in Indian Wells, California
Indian Wells is a city located in Riverside County, California, and within the Coachella Valley. The city was incorporated in 1967 and it lies distinctly between Palm Springs and La Quinta in the Coachella Valley. In the United States census that was conducted in 2013, the population of Indian Wells stood at 5,165.
History of Indian Wells
According to W.P. Blade, the area, which is now known as Indian Wells, was originally occupied by native Indians. It was the site of an Indian village as early as 1853 and they were reported to have thrived in this land. A decade later, William D. Bradshaw decided to build a trail that ran from Los Angeles all through the desert. This was when gold was first discovered in the Colorado River. The plan was that the trail would run through the desert and directly to the gold mines. The Alexander and Company Stage Line used the trail line in order to mobilize prospectors and over the years, Indian Wells became a vital part of that journey. When competition came from the Southern Pacific Railroad, the route was briefly abandoned in 1875, although the Wells Fargo reactivated it the following year and it was functional again.
Over the course of the next few decades, there was the emergence of settlers who began arriving in the area. From there, real estate around the area became quite profitable. The Eldorado Country Club and the Indian Wells Country Club were opened in the 1950s and they attracted tourists in their droves. Among the most notable visitors was President D. Eisenhower, who was a regular visitor and an eventual Eldorado homeowner.
Over the years, Indian Wells has evolved into something of a tennis haven. Currently, the city hosts the fifth-largest tennis tournament on the planet; the Indian Wells Masters tennis tournament (although presently, it is officially known as the BNP Paribas Open). The Indian Wells Masters is currently one of the nine ATP World Tour Masters 1000 events, all of which are owned, run, and operated by the Association of Tennis Professionals. It is also one of the WTA Premier Mandatory tournaments of the Womens’ Tennis Association (currently, there are four of them). It is an annual event, which is held at the Indian Wells Tennis Garden; a location that boasts the second-largest stadium in the world that is dedicated to tennis alone.
Real Estate Trends and Home Ownership
The median home value in Indian Wells has been reported to be about $675,900. Over the past year, the values of homes in Indian Wells have gone up 1.3% and majority of real estate platforms have predicted that they will reach a level of about 4.2% within the next year. The median list price per square foot in the Indian Wells region is $268, and the median price of homes that are currently listed in Indian Wells is $799,000. Home prices vary due to differences in specifications, so there can’t be a true peg on the average value of homes. However, Indian Wells as been known to be advantageous to buyers when it comes to real estate ownership.