Category

Real Estate News

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.

It’s July 1…How’s sales and inventory now?

By | New, Real Estate News, Sales by Club
06/09/12-7/01/12                
  New Price  New Closed Total in   Total  
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS  
                 
Andalusia 1 0 0 0 0   10  
Hideaway 1 1 1 1 6   35  
Indian Ridge 2 9 4 2 7   53  
Indian Wells CC 5 5 2 3 4   36  
Mountain View 3 5 3 3 6   18  
Palm Valley 2 11 4 5 12   36  
PGA West 20 7 19 21 38   104  
Rancho La Quinta 5 2 7 7 13   38  
Toscana 0 0 1 0 4   13  
            LY   LY
Week Total 39 40 41 42 90 71 343 447
          % Inc/Dec 27%   -23%

Sales still up (23%) and inventory still low (-22%)!

By | New, Real Estate News, Sales by Club
05/17-06/08/12                
  New Price  New Closed Total in   Total  
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS  
                 
Andalusia 0 0 1 0 1   9  
Hideaway 3 6 3 1 6   39  
Indian Ridge 8 9 2 6 6   70  
Indian Wells CC 5 5 5 9 7   42  
Mountain View 5 2 3 5 7   25  
Palm Valley 3 7 6 5 13   42  
PGA West 19 21 17 17 43   119  
Rancho La Quinta 6 8 5 8 14   47  
Toscana 1 1 1 3 4   18  
            LY   LY
Week Total 50 59 43 54 101 82 411 529
          % Inc/Dec 23%   -22%

May 4th update! Low inventory!

By | New, Real Estate News, Sales by Club
4/24-5/04/12
New Price New Closed Total in Total
Country Club Listings Reduc In Escrow Escrow Escrow on MLS
Andalusia 1 0 0 0 1 11
Hideaway 1 2 0 1 3 44
Indian Ridge 7 7 3 3 12 74
Indian Wells CC 1 5 4 4 13 48
Mountain View 2 6 4 1 4 30
Palm Valley 8 3 4 5 14 50
PGA West 13 18 12 20 44 141
Rancho La Quinta 4 4 5 9 15 56
Toscana 1 0 3 2 7 24
LY LY
Week Total 38 45 35 45 113 110 478 581
% Inc/Dec 3% -18%