The City of La Quinta, home sales for the year of 2017 were the strongest since 2004. The growing strength from the end of 2016 carried over through the first half of 2017.
As you can see from the numbers below, the unit sales increased in 2017, 15.8% over 2016 but the price per square foot decreased .08% Here are the unit sales and price per square foot by quarter for 2015/2014, 2016/2015 and 2017/2016 in the City of La Quinta.
Unit sales in La Quinta:
Quarter 2015/2014 2016/2015 2017/2016
1 -20.1% -2.3% +38.5%
2 -2.6% +9.5% +15.4%
3 +3.9% +14.1% +3.3%
4 +22.0% +7.8% +7.9%
Total -1.9% +7.3% +15.8%
Price/Square Foot in La Quinta:
Quarter 2015/2014 2016/2015 2017/2016
1 +10.0% -5.0% -7.4%
2 -0.5% -2.4% +6.2%
3 +0.0% +4.5% +1.2%
4 +2.0% -0.9% -2.6%
Total +3.0% -1.3% -0.8%
2017 has seen a strong increase in sale which echos the increase in the national economy. As the stock market grows people are looking for other investments which might not be as volatile as the stock market. We look to 2018 to be a good year.
The Palm Springs Life sponsors an annual Market Watch for the entire Coachella Valley and compiled br the Palm Springs Regional Association of Realtors (PSRAR) publishes monthly statistics for the entire Coachella Valley. That report can be seen by clicking here.
Below are some Graphs representing the City of La Quinta.
Here are some yearly sales figures (units) for the City of La Quinta from 2002: Year – All LQ – Golf Course 2002 – 1,356 – 259 2003 – 1,572 – 640 2004 – 1,938 – 785 2005 – 1,563 – 638 2006 – 1,118 – 483 2007 – 942 – 444 2008 – 1,076 – 405 2009 – 1,202 – 409 2010 – 1,360 – 518 2011 – 1,446 – 510 2012 – 1,532 – 587 2013 – 1,537 – 567 2014 – 1,284 – 576 2015 – 1,259 – 512 2016 – 1,351 – 572 2017 – 1,565 – 699 * Remember that the sales numbers represent “Closed” escrows. Since the average escrow is between 45 and 60 days, the decision to purchase the homes that closed in June was probably made in March to early April. For more information about the Coachella Valley Real Estate market, Please call us at (760) 203-2621! Source: DesertAreaMLS