If you’ve been thinking about selling your short term vacation home in Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, La Quinta, Indio… putting it on the market now while demand is high might be your best move.
Here are two reasons why.
1. Vacation Homes Are Selling Quickly
These homes are not staying in the market for very long. NAR also notes:
“In September, 68% of vacation homes sold in less than a month. Historically, about 30% sell that quickly…It’s a pretty amazing uptick compared to past years.”
2. Home Prices Are Rising
With an increase in demand, prices go up. NAR continues:
“In the third quarter, prices in vacation-home counties rose by about 32% year over year. Seventy-nine percent of these counties experienced year-over-year price gains. NAR defines a vacation-home county as one in which seasonal housing accounts for at least 20% of stock.”
If your vacation home is sitting idle, maybe not attracting as many renters as you usually see, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the time. Your decision to sell your short-term rental could have more to do with your current lifestyle than any financial shortcomings you may be experiencing. Many homeowners use their short-term rental properties as vacation homes for themselves and rent them out when they are not in residence. But if you’ve noticed that you’re using your property less and less, then selling when demand is high could be a positive move. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today.
Demand is on the rise, so let’s discuss your next steps when it comes to selling your vacation home. You can sell your Short Term Vacation Home completely virtually with us. Call or Text 760-766-6093 today!