Single Family Homes

90-day stats for Single Family properties in
LA QUINTA, CA 92253 as of January 12, 2018
Median List Price:$800,250Average List Price:$1,231,586
Total Inventory:600Price per Square Foot:$268
Average Home Size:3,004Median Lot Size:10,957
Average # Beds:3.46Average # Baths:3.46
Homes Absorbed:31Newly Listed:43
Days on Market:203Average Age:16

Condominiums

90-day stats for Condo properties in
LA QUINTA, CA 92253 as of January 12, 2018
Median List Price:$406,654Average List Price:$452,969
Total Inventory:126Price per Square Foot:$214
Average Home Size:1,849Median Lot Size:n/a
Average # Beds:2.55Average # Baths:2.62
Homes Absorbed:7Newly Listed:9
Days on Market:149Average Age:26

From Altos Research –

“Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Keep in mind that an MAI value close to “30” probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it’s likely to be either a buyer’s market or seller’s market based on the individual street or home area that a particular property is in.