La Quinta’s recovery from the market collapse has been dismal, to say the least. Over $200,000 has been lost in value averages, and that value isn’t in a hurry to return. Growth has been painstakingly slow, and there have been a few minor setbacks along the way. While the market is still recovering, it isn’t doing so at a rate that inspires hope among area homeowners. Growth is happening at a rate of about 3% of year, so it may take decades for things to get back to the way they used to be.
La Quinta’s real estate market is very cold, and very unhealthy. This is a disastrous combination for anyone in the area looking to sell. Over 10% of listings undergo price cuts, and many of them won’t even sell before their listings run out. Cold markets always favor buyers. Desperate homeowners let their properties go for unreasonably low prices when they’ve had enough of the inevitable frustration that comes with the market.
Things are hard in La Quinta, to say the very least. If you’re having trouble trying to get out of the area, you’re one of many in the same position. Things aren’t going to let up any time soon with such a marginal growth rate, and no one is looking to move into an area with such a rough real estate market. Your best bet is to sell outside the market, and doing so is easier than you may think.