Category

New

Are prices rising? Check the $/sq.ft. by club..

By | New, Sales by Club
2012 2013 YTD
Country Club Condo Single Family Condo Single Family
$/sq.ft. $/sq.ft. $/sq.ft. $/sq.ft.
Andalusia na 325 na 313
Bighorn na 602 na 635
Hideaway na 430 na 454
Indian Ridge 194 256 211 265
Indian Wells 186 293 200 268
Mountain View 168 257 na 267
Palm Valley 175 na 189 na
PGA West 156 233 167 245
Rancho La Quinta 207 273 211 257
Reserve na 433 na 612
Toscana na 416 na 442
Tradition na 503 na 453
Vintage 273 390 na 475

What’s Happening With Prices?

By | New, Real Estate News

We keep seeing news articles that the prices are rising.  Is this true?  Well in the desert, the “rising prices” are more a reflection of the fact that we have less bank owned and short sale inventory available so the sales that are happening are with the higher priced “regular” inventory.  Look below by Price Range:

In the 500,000 to 999,999 range:  Sales units are way up over last year…Prices are slightly down..Inventory is only slightly down from last year.

500,000-999,999 Sales

500,000-999,999 Prices

In the 1,000,000 + Range:  Inventory is up 10%, Sales are off from last year by 31%. Prices show up..What’s up?

Sales for 1,000,000 +

1,000,000 + Prices

1,000,000-1,500,000 Prices

When one looks at the prices of the 1,000,000-1,500,000, it is noted that Prices are slightly down. The prices of 1,000,000+ are skewed somewhat as there were 12 sales over 1.5M in this month of which 2 were over 5M and one was $11.1 M!

What does it all mean? Sales over $1M have been more challenging than last year. In the 500,000-999,999 sales are strong, but the prices reflect a drop of 1.2% from last year.

Which of the 9 Clubs are selling the fastest this season?

By | New, Sales by Club
    02/28/13  
  Total units Total units sold
  Sold 2012 and In escrow of LY sold
       
Andalusia 18 14 77.8%
Indian Wells CC 73 26 35.6%
Palm Valley 72 25 34.7%
Toscana 29 10 34.5%
PGA West 216 74 34.3%
Indian Ridge 74 23 31.1%
Mountain View 29 9 31.0%
Hideaway 26 7 26.9%
Rancho La Quinta 70 16 22.9%
       
  607 204 33.6%

And the Beat goes on…sales up 28%, Inv down 12%

By | New
02/16/13-02/27/13                  
  New Price  New Closed Total in   Total    
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS    
                   
Andalusia 0 0 1 1 13   14    
Hideaway 3 3 2 0 6   47    
Indian Ridge 5 4 3 3 13   70    
Indian Wells CC 4 9 2 2 16   64    
Mountain View 4 3 1 0 6   35    
Palm Valley 3 3 1 5 9   40    
PGA West 9 11 18 11 44   147    
Rancho La Quinta 3 4 3 1 8   67    
Toscana 1 1 1 1 8   27    
            LY   LY 2011
Week Total 32 38 32 24 123 96 511 582 643
          % Inc/Dec 28%   -12% -21%

WOW! Sales up 24%…Inventory off 11%

By | New, Sales by Club
02/09/13-02/15/13                  
  New Price  New Closed Total in   Total    
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS    
                   
Andalusia 2 1 4 0 13   15    
Hideaway 0 1 1 1 4   46    
Indian Ridge 2 2 3 1 12   70    
Indian Wells CC 2 5 1 2 17   62    
Mountain View 2 1 2 0 4   33    
Palm Valley 3 3 1 5 7   46    
PGA West 9 8 8 10 36   160    
Rancho La Quinta 2 2 4 1 6   71    
Toscana 2 0 1 0 9   20    
            LY   LY 2011
Week Total 24 23 25 20 108 87 523 590 654
          % Inc/Dec 24%   -11% -20%