Desert Sun Retreats 11/18/22

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Analyzing the October Coachella Valley Real Estate Market

Coachella Valley Market Snapshot

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The fourth quarter real estate market kicked off with an interesting October. Patterns we have been tracking for months remained, while others changed course. Keep reading to see how the market closed the month and what it could mean for the upcoming desert real estate sales season. Our recaps are comprehensive of the entire desert resort cities region and do not necessarily reflect what’s happening on a more granular level. If you want to learn more about the state of the market in a specific city, community, or neighborhood, connect with your local Bennion Deville Homes REALTOR®. Whether purchasing or selling a property, they can provide you with the latest data and analysis to help you make the best decision. Visit BDHomes.com, we will unlock possibilities for you.

October traditionally marks the early days of the desert sales season, and many of the hallmark seasonal patterns emerged in the trendline. New listings solidly increased month-over-month but declined slightly year-over-year. Total inventory far surpassed the total at the end of September and more than doubled annually. Additionally, the number of homes going into pending status saw a solid monthly increase, but an even more drastic decline when compared on an annual basis. Keep in mind the market was still on an unprecedented hot streak at the end of 2021, marked by extremely low inventory and fervent demand. As noted over the past several months, those two conditions have tapered off, leaving us with a more harmonious market that is balancing.

The overarching trend of a balanced market is prevalent with the October numbers. This is good news overall for buyers and sellers as we head toward the end of the year. Although increasing at a sharp rate, inventory levels are still below historic levels, creating conditions that favor sellers who wish to cash out on realized equity. On the other hand, those in the market to purchase a property have more choices

12.8%

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to consider. The listing discount also remained at a modest 2%, not as deep as we are used to seeing, but still enough to show that sellers will need to be realistic with their pricing if they are to attract the right buyer for their listing. These factors haven’t quite hit the average sale price yet, which increased monthly and annually. However, with inventory rising and activity low but steady we expect prices may see a slight correction while remaining at stable levels into 2023.

October saw 430 homes exchange hands, a 44.5% drop on an annual basis, and a 12.8% decrease month-over-month. Those home sales accounted for almost $555 million in sales volume, a 1.8% increase year-over-year, and a 9.4% leap monthover-month. The market welcomed 934 new listings in October, a 6.6% decline compared to last year, but a 5.9% increase compared to September. There were 574 homes that entered pending status, a 32.2% annual decrease, but a 16% monthly increase. The median sale price for a home in the desert region ended at $594,000, a 9% increase year-over-year and a 3.3% increase month-overmonth. Similarly, the price per square foot finished the month at $389, a 10.2% annual increase, and a modest 1.3% monthly increase. The sale pace, noted as average days on market, clocked in at 45 days, a 32.4% increase (slower) from last October, and a slight 2.3% increase from September. The listing discount, noted as sale price versus list price, ended the month at 98%, or a 2% discount off the list price on average, a 2% change from last October and the same as September. The market closed the month with 1,873 active listings, a 112.4% leap year-overyear, and a 15.5% surge month-over-month. Overall, there is a 4.4-month supply of homes to meet demand across the market, a 300% increase year-over-year, and a 33.3% increase month-over-month. A balanced market is considered at around 6 months of inventory, which the market is quickly approaching due to rising inventory and slowing sales.

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Deck the halls

Holiday cheer is here

USA TODAY NETWORK

Get into the holiday spirit with festive indoor decor that makes your space feel celebratory.

Made of magnolia, boxwood, fir and cedar, these fresh bunches of garland are made to order. $89 at potterybarn.com.

Light

A minimalist wooden snowman figure comes in 7.5-inch and 11.5-inch sizes. $39.95-$49.95 at Crate & Barrel.

This stunning Baccarat Mille Nuits fir tree, made of handcut French crystal, is an elegant addition to tabletops. $230 at scullyandscully.com.

Evoke the scents of the holidays with Through The Woods Iced Evergreen potpourri. It features pinecones, juniper and aniseed. $49.95 at williams-sonoma.com.

This marble and brass menorah will add timeless style to your Hanukkah decor. $60 at West Elm. USA TODAY NETWORK PHOTOS

up the holidays with flameless Kwanzaa candles. $34.95 for a set of seven at batteryoperatedcandles.net.

Holiday shopping? Get these products before they’re gone

Kaleb A. Brown Reviewed.com | USA TODAY NETWORK

The holiday shopping season has begun, whether you’re ready to admit it or not. Costco has its Christmas trees front and center, early Black Friday deals are abundant and we’re already seeing popular gifts fly off the shelves. You’ll want to get shopping sooner than later to get everything you need before it’s gone. h Gifts and other holiday products can go out of stock for a variety of reasons. Supply chain issues continue to be an issue, making it hard for manufacturers to make the products and for retailers to deliver them. Some hot products are on a limited run, meaning there are fewer products made in the first place, and restocks are unlikely. Other times, a product is simply so popular that the overwhelming demand for it is greater than the available supply. h We’ve compiled a list of the products we expect to go out of stock this holiday season based on real-time shopping insights and historical trends so that you can be a more strategic shopper. If one of these items has found its way onto your gift list, make sure to buy it before it’s going, going, gone.

Holiday shopping? Start with these products first. GETTY IMAGES

Shopping

come hard to find as the shopping season goes on. $239 from Amazon $800 from Apple $399 from Apple

ping them to a nearby store for pickup.

Kohl’s Target

Advent calendars

Apple products

There are a lot of new Apple devices to wish for this year. The second generation of AirPods Pro are newly released and better than ever with amazing audio and noise cancellation. Plus, they come with on-board volume controls, a first for the line. The newly-released iPad Pro (6th gen) boasts improved performance and writing functionality, among other nifty features. There’s also a new Apple Watch, which maintains the line’s prestige title as the best smartwatch you can buy. You’ll want to buy these devices soon because, like any Apple product, they’re sure to be a hit and might be-

Matching holiday pajamas

Planning on buying a set of matching holiday pajamas to send out festive holiday greeting cards? You might want to put the pedal to the metal when it comes to buying them, as holidaythemed pajamas are some of the fastest items to go out of stock. From experience, if you’re buying these in late November, chances are the sizes you need will be out of stock.

Many stores, such as Kohl’s and Target offer pajamas specifically made for the whole family to look good and you can even save money on them by ship-

Advent calendars count down the days until Christmas with a different gift each day. Whether someone likes chocolate, wine, makeup or toys, chances are there’s an Advent calendar for them. Unfortunately, the popularity of Advent calendars means that they sell out well before December. Seeing as you’ll want the recipient (which may include yourself, too) to have their calendar before December starts, it’s good practice to buy one well in advance.

If you’re looking to buy an Advent calendar for kids, then they’ll love the popular Playmobil Dario’s Workshop calendar. It comes with different, fun

pieces of the set each day. For Disney lovers, we recommend getting the Disney: Storybook Collection Advent Calendar, which features a magical tale each day. Another Disney Advent calendar, the Disney Princess calendar, is already nearly sold out which is a testament to the brand’s popularity. If you’re interested in this one, you should get it ASAP. Shopping for someone who loves the taste of tea? Consider getting them a tea calendar from Uncommon Goods before they’re all sipped up.

$40 from Amazon $29 from Amazon $36 from Uncommon Goods

Beauty kits

Beauty aficionados, be on the lookout

These new Apple products are sure to be a hit this season. REVIEWED/APPLE If you’re planning on getting a pajama set, now’s the time to buy. REVIEWED/TARGET

for trendy beauty kits this holiday season. Currently in stock is the highly popular Pillow Talk Lip Set by Charlotte Tilbury. Reviewed beauty editor Jessica Kasparian says the set exceeded her expectations. “Of the four, I’ve tried the lip liner, matte lipstick, and lip gloss, and I love how the liner adds definition, the lipstick fills in my lips with a neutral shade that goes with everything, and the gloss makes the lips look fuller and shiny,” she says. “If you can get your hands on this kit, don’t hesitate!”

Another beauty set to be on the lookout for is the popular Beija Flor Body Cream and Perfume Set by Sol de Janei-

ro. The floral set has been a hit since its debut this summer and it may go out of stock as shopping ramps up, so you should get it now.

$50 from Charlotte Tilbury $48 from Sephora

Toys

There are a few toys you’ll want to buy before they go out of stock this year. Magic Mixies is back at it again with a toy sure to be a hit with kids this year. The Magical Misting Crystal Ball, which comes in both pink and blue, is here to make kids feel like they’re full of magic with over 80 mystical sounds and a matching wand to go along with it. Perhaps the best feature of all, it can double as a night light. This is an update on Magic Mixies’ Magic Cauldron toy from

last year, which was one of the most popular toys of the season. Naturally, by the time the holidays approached, it was out of stock far and wide. We expect this version will also be a hot commodity this year, so make sure to get it before it’s gone.

LEGO recently released Lloyd’s Golden Ultra Dragon, a whopping 989-piece behemoth that’s LEGO’s largest dragon to date, as part of its NINJAGO line. LEGO is always popular and the novelty of being the biggest and baddest dragon around is sure to make the Golden Ultra Dragon a must-have.

Another toy that’s popular among kids and adults alike is the highly popular Squishmallow. Coming in a variety of colors and sizes, their uniform shape makes them desirable as a collectible item. Plus, they’re adorable and quite

comfortable to snuggle. Due to their popularity, individual Squishmallows can go out of stock quickly. Have your sights set on a certain one? We recommend ordering it sooner than later. $76 from Amazon $150 from Amazon Starting at $15 from Amazon

Video game consoles

Thanks to the global chip shortage and the popularity of certain gaming consoles, it can be hard to snag the popular PlayStation 5 by Sony, as well as Microsoft’s Xbox Series S.

For the PlayStation 5, it’s been consistently hard for consumers to get their hands on the console since its 2020

Get these cool and cute toys before it’s too late. REVIEWED/MAGIC MIXIES/LEGO/ SQUISHMALLOWS

If you’re gifting a video game console this holiday season, you should buy them sooner rather than later. REVIEWED/SONY/MICROSOFT/NINTENDO

Shopping

$700 from Walmart $500 from Best Buy $300 from Target

Laptops

release. If you look through various storefronts, you’ll find that they’re already sold out in many places. What’s more, consoles that are available may be marked up at $200 or more. You can join a waiting list on Amazon but there’s no guarantee that you’ll be invited to purchase the console in time for Christmas.

Microsoft’s Xbox Series X, while easier to find in stock, generally picks up in popularity around the holidays and may be harder to come by later in the season. If the person you’re buying an Xbox for isn’t a stickler when it comes to graphics, you can always get them an Xbox Series S, which is $200 cheaper and supports the same games.

Nintendo’s Switch is by far the easiest to get out of these gaming devices, with the most consistent stock. However, anything goes during the holiday season so supply could wane as the season carries on.

Laptops are another unfortunate victim of the great chip storage, with the supply of gaming laptops particularly hurt. If you’re looking for a Macbook, we recommend getting the 2020 Apple MacBook Air, which is our pick for the best laptop overall thanks to its amazing performance, battery and quality build.

If you’re more of a Windows person, we recommend picking up the HP Spectre x360 2-in-1 14. Its trackpad and keyboard are both comfortable and it comes with a responsive touchscreen. For a gaming laptop specifically, you need the Asus ROG Zephyrus G14, which is our pick for the best gaming laptop. It excels in every area, with excellent performance, great battery life and a surprisingly sleek design for a gaming laptop. Thanks to their quality, each of these laptops is quite popular, so you’ll want to make sure to get them now while they’re still available.

$799 from Amazon $1550 from HP $1650 from Best Buy

Footwear

Even during the off-season, popular shoes like those from Nike can go out of stock quickly. This is, in part, due to people buying them in bulk to re-sell at a higher price. While Nike has revealed measures to curb the resale market, various shoes may still go out of stock due to high demand. After all, these are genuinely cool shoes, and everyone wants their hands (er, feet) on some. Check out the online Nike store to see what’s in stock. If you decide to brave the resale market, you should still utilize the Nike store in order to find the Manufacturer Suggested Retail Price (MSRP). That way, you won’t overpay by buying a pair way over the normal price.

Cariuma may be another shoe brand that sells out quickly for the holidays. Cariuma sneakers are a viral sensation due to their chic design, comfort level and sustainability. Their newly-

launched winter boots are already flying off the shelves and it won’t be long until they’re completely out of stock. If you have your eyes on a pair, buy them now before the shopping season really ramps up.

If you’re looking for Birkenstocks, you best get them soon, as certain pairs are already out of stock at various storefronts. Fortunately, an unlikely hero comes in the form of HSN, which still has the brand’s popular Boston Clogs in stock – for now.

Shop Nike

Shop Cariuma $170 from HSN

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Prices were accurate at the time this article was published but may change over time.