2016 Yearly Sales Analysis

The City of La Quinta, home sales for the fourth quarter of 2016 (October thru December) was very interesting. As mentioned in our 3rd quarter post, after a very slow start to the year, the 3rd quarter was one of the strongest we have seen.

The 4th quarter of 2016 finished 7.3% ahead of the same period from 2015 but down 8.1% from the 3rd quarter of 2016. Here are the unit sales by quarter for 2015/2014 and 2016/2015.

Unit sales in La Quinta:
Quarter 2015/2014 2016/2015
1 -20.1% -2.3%
2 -2.6% +9.5%
3 +3.9% +14.1%
4 +22.0% +7.8%
Total -1.9% +7.3%

Price/Square Foot in La Quinta:
Quarter 2015/2014 2016/2015
1 +10.0% -5.0%
2 -0.5% -2.4%
3 +0.0% +4.5%
4 +2.0% -0.9%
Total +3.0% -1.3%

2016 sales of unit sales increased by 7.3% over 2015 but the price per square foot decreased by 1.3% from the previous year.

2016 has been similar to 2015 except the January sales were even less than 2015, and the inventory started growing at a rapid pace. The inventory continued to grow and the sales were slow, which turned the market into a buyer’s market with prices dropping. Buyers finally started to appear in April and the momentum continued growing throughout the summer making September the second strongest September we have ever had.

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.