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Is it a Good Time to Buy a House in La Quinta, CA?

Nestled in the Coachella Valley between the cities of Indio and Indian Wells, La Quinta is a picturesque resort city currently home to over 41,600 residents. It is known as the "Gem of the Desert," a city that fully embraces the outdoors and the arts. La Quinta is among the most scenic desert communities in the Coachella Valley, completely surrounded by the Santa Rosa Mountains and offering easy access to a network of hiking trails highlighted by picture-perfect scenery.

Pristine natural surroundings, a vibrant arts scene, a dazzling mix of world-class attractions, and an exceptional quality of life. All these combine to make La Quinta, CA one of the best places to call home.

Every year, La Quinta attracts countless tourists with its burgeoning art scene, fantastic events, and charming Main Street lined with elegant Mexican Colonial-style buildings home to a mix of boutiques, restaurants, and entertainment venues.

Planning to invest in La Quinta real estate? One of the first questions you've likely asked yourself is whether it's the best time to buy a house. To help you, here's an overview of La Quinta's real estate market, a glimpse of the lifestyle it offers, and a few helpful tips to keep in mind to help you achieve your real estate goals in this exciting market.

La Quinta, CA at a glance

  • The Desert Cahuilla Native Americans were the first inhabitants of the La Quinta area. They were among only a few tribes who dug wells in the region.

  • La Quinta started off mostly as an agricultural community. The area's climate allowed a variety of produce such as sweet corn, exotic dates, onions, and seedless grapes to thrive.

  • As travel to the desert became increasingly easier and more convenient, many Los Angeles residents visited the La Quinta area on a consistent basis.

  • La Quinta was officially incorporated into Riverside County on May 1, 1982, and is named after the prestigious La Quinta Resort, established in 1926.

  • La Quinta encompasses a total area of approximately 35 square miles and is currently home to more than 41,600 residents.

Overview of La Quinta's real estate market

La Quinta's real estate selection is as diverse as the city itself, offering a plethora of housing options from family-friendly homes, condos with first-class amenities, to sprawling estates in golf course communities, and more.

La Quinta is a popular snowbird destination as well as an exceptional place to call home for good reason - it offers an outstanding quality of life enhanced by breathtaking surroundings and an array of incredible recreational opportunities, allowing for an engaging and relaxing desert lifestyle like no other.

For buyers searching for the finest, high-end properties, La Quinta boasts an impressive collection of luxury homes equipped with upscale features such as resort-like swimming pools, custom water features, designer fixtures, and lush, meticulously maintained landscaping. Homes for sale in La Quinta are available in elegant architectural styles such as Spanish Colonial, Santa Fe, Contemporary, Territorial, and Mid-Century Modern.

Many luxury homes in La Quinta are located in exclusive golf and country club communities, providing easy access to a wealth of first-class amenities including championship golf courses, tennis courts, gourmet restaurants, state-of-the-art fitness centers, and more. Top-rated golf communities and subdivisions in La Quinta include:

Great reasons to move to La Quinta

Old Town La Quinta during the Art UnderThe Umbrellas show and sale

Gorgeous views and amazing recreation

Located in Riverside County, La Quinta is home to a dazzling array of parks, world-class golf courses, and an extensive network of biking and hiking trails, making it a terrific choice for those looking forward to living in a scenic environment.

The city's excellent weather, unique landscape, and stunning scenery open up a myriad of year-round activities including golf, hiking, trail running, biking, wildlife viewing, and more.

Whether you're looking forward to enjoying an active lifestyle or relaxing while soaking in the gorgeous scenery and reconnecting with nature, La Quinta's array of top-quality outdoor destinations is sure to satisfy.

Top-performing schools

La Quinta is a terrific place to live for families, as the city is home to several excellent schools administered by three highly rated school districts:

Schools in La Quinta are known for fostering a supportive, engaging, and nurturing learning environment for all students, allowing them to become lifelong learners and valued members of society.

For those looking to enroll in higher education, La Quinta is conveniently located close to outstanding colleges and universities such as:

Incredible events and festivals

La Quinta's stellar lineup of events and festivals draw countless tourists and locals to the desert each year. Living in La Quinta means there's always something exciting to look forward to around the corner!

Some of the world's most anticipated music festivals like Coachella and Stagecoach take place in the La Quinta every year, providing a burst of activity in this otherwise laid back resort city.

For golf enthusiasts, many of the top pro golfers compete and perfect their game at the PGA West Stadium Course, a legendary course considered one of the best in the world. Tennis fans living in La Quinta have something to look forward to as well, with the BNP Paribas Open hosted at nearby Indian Wells every year.

Tight-knit community

La Quinta has a tight-knit community with residents who take great pride in the city. This is apparent in the overwhelming support shown during the city's local sporting events and other community-wide celebrations.

Residents of all ages get to enjoy a wide range of sports and fitness programs organized by the city, from Pilates, strength and cardio, and yoga, to a variety of sporting tournaments, providing plenty of opportunities for residents to stay fit and healthy while getting to know other members of the community.

Is now a good time to buy a house in La Quinta?

Wondering whether it's the best time to buy a house in La Quinta? If you're planning to purchase real estate in the area, it's likely to get a good deal in the current market.

In June 2022, 43% of homes in La Quinta were sold below the asking price. The most sought-after homes in the area meanwhile tend to sell for about 5% more than their list price, and typically stay on the market for about 20 days. Most homes, however, sell after 40 days on the market, compared to 33 days in the previous year.

According to Redfin, 36.1% of homes in La Quinta dropped in price, which shows a 24.3 point increase compared to the previous year. Prices of homes in La Quinta are currently up by 17.4% compared to 2021 prices and are selling for a median price of $760K.

Buyers in La Quinta should expect some competition, as there are many homes that get multiple offers. In June 2022, 205 homes were added to the market for sale, resulting in a cumulative monthly total of 240 homes for sale. This shows an increase of 7% compared to May. There was a total of 102 sold homes in June, which is down by 24% from May.

Over the past 12 months, the most active months for sold properties in La Quinta were June 2021, February 2022, and March 2022. These three months had 162, 132, and 173 homes sold respectively, which is a drastic increase compared to the average of 97 compared to other months in the last year.

This past one-year period for La Quinta's real estate market shows the three months when homes sold fastest were during March, May, and June, all in 2022. During these months, homes stayed on the market for about 22 days, compared to the average of 38 during other months in the previous year.

Key factors to consider for La Quinta real estate investors

A businessman using his laptop for property sales

When figuring out the best time to buy a house, one of the most important steps in the initial stages is to establish your real estate goals.

In this section, we take a closer look at some of the most important factors to help guide your investment decisions. This will give you a broader view of the current market and form the right strategy for fulfilling your goals.

Buying to hold long-term

This strategy is for investors who plan to purchase a property and hold on to it for the foreseeable future. During this period, the property is used to generate income to increase profit.

Here are some of the key factors to consider:

  • Job diversity - An area with a diverse employment industry is always a great sign for long-term real estate investors. La Quinta has three dominant employment sectors bolstering its economy: retail commercial, resort hotels, and golf. The growth of these three main sectors alone has generated a diverse mixture of employment opportunities in the city, creating a stable employment base. Because of this, any disruptions from a single business category that could impact the housing market negatively are minimized. For long-term investors, this means potential tenants are spread out across varied businesses and companies, reducing vacancy exposure.

  • Property taxes - Your profits can decrease due to real property taxes. You want to look for property that has a manageable cost. In general, most local governments won't lower real property taxes. Otherwise, buying property located in a municipality that increases taxes frequently is something you want to avoid.

  • Property appreciation rate - This is a key factor to consider when determining a location for your real estate investment. You want to look for a reliable annual increase in home prices, as this is the core of your entire strategy. Stagnant or decreasing property values will be counterintuitive to your plans to buy and hold long-term.

Short-term rentals

Short-term rentals are an excellent option for La Quinta real estate investors due to the city's reputation as a snowbird destination and a tourist draw. Full-time homeowners can consider renting out their properties through well-known online platforms like AirBnB and VRBO. This is one of the easiest paths to getting into real estate investing.

Some key factors to consider for short-term investors are:

  • Quality of local attractions - Tenants of short-term rentals are often people who visit and stay in an area to partake in recurring recreational activities, attend popular events, or visit unique, well-known attractions - something La Quinta has in spades. The quality and popularity of a city's local attractions draw visitors on a frequent basis.

  • Median prices - The median property price in a city is a great indication of its investment potential. Investors can fine-tune their search for ideal short-term investment properties by taking a look at the median market worth in the most desirable neighborhoods.

  • Price per square foot - The price per square foot provides an overall idea of home prices when comparing similar properties. It can be used as a quick method for analyzing sub-markets and properties. However, keep in mind that in markets where properties significantly differ in styles, the price per square foot may not always be a reliable factor when comparing properties.

  • Short-term rental occupancy rate - The short-term rental occupancy level reflects the necessity of more rental units in a specific region. Cities requiring additional rental properties have a high occupancy rate. Finding renters for your investment property can be challenging if existing investors in the market find difficulty renting their properties.

Buying to fix and flip

Buying a home to fix and flip generates more value by renovating and enhancing an existing property, and then reselling it for a higher market price. For this to be successful, an investor needs to search for homes priced below market value, and then determine how much they'll need to spend to make the property more appealing to potential buyers.

Important factors to consider in this type of strategy are:

  • Population growth - A city's population growth is a good indication of the strength of its housing market. Whenever there's a larger pool of potential buyers for your renovated property, statistics will reflect strong population growth.

  • Property appreciation rate - Property price activity in a particular area is one of the most important trends to look for. A fixed increase in median prices is an indication of a solid investment market. Unreliable shifts in market worth, on the other hand, are not a good sign, even if it shows a sudden increase over a short period. Investing during unstable market conditions could be challenging for investors.

  • Average renovation costs - You'll need to take a look at construction expenses in an area to determine whether it's worth investing in that area. Local governments may affect your investment too, as vary with regard to how they process applications. If officially stamped blueprints and plans are required, you'll need to account for architect's changes in your budget.

Work with the top real estate team in La Quinta, CA today!

The best time to buy a house in La Quinta is when you know you have an experienced, reliable, and hardworking team at your side to help you achieve your real estate goals.

With Brandi Pratt and her expert team of real estate agents from The Pratt Group, you can expect only the finest results as you navigate the market. The team specializes in La Quinta, Indian Wells, and the Palm Springs area and has built a stellar reputation for their proven track record and propensity for success for home buyers and sellers throughout the Coachella Valley.

If you're still wondering whether it's the best time to buy a house in La Quinta, let the experienced team from The Pratt Group lead the way! Get in touch with the team today by calling 760.9600.381 or sending an email to brandi(at)theprattgroup(dotted)com

Brandi Pratt - realtor in La Quinta, CA
Brandi Pratt
Southern California Native
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