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May 2011 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through May, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in May increased overall by 4.9% while the number of Escrows for the more expensive Golf Properties decreased by 5.2%. May is the second consecutive monthly decrease after increasing for the previous 6 months. I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home. I recently read an article offering a retort to a buyers comment “I’ll wait until the prices really hit bottom…” The article pointed out that although you may get the home at a lower price, the mortgage interest rate will be higher so the purchase will wind up costing you more over time.

Closed home sales in May showed a 8.9% decrease over April, the best month in La Quinta since June of 2010, but it is 2.3% higher than April, 2010. Although the general attitude of the majority of people we talk to at open houses is that the market has hit the bottom but we are beginning to hear some folks saying they’re going to wait a little longer. The slightly increasing mortgage interest rates may add some urgency to our industry.

Golf Course home sales in La Quinta.
The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) showed an increase in May over the increase in April. However the average price per square foot decreased 2.6% in May over April.

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity through May but June has slowed somewhat.. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On May 31, there were 5,848 active listings (down 6.1% from April), 2,694 units in escrow (down 1.3% from April) totaling 8,542 units (down 4.7% from April) available for sale which makes 31.54% of the total in Escrow (Up 1.07% from April) – which means we are working on reducing the supply which will ultimately increase demand and improve the market.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.
Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year All LQ Golf Course
2002 1,354 259
2003 1,565 652
2004 1,931 813
2005 1,553 657
2006 1,098 491
2007 935 447
2008 1,063 416
2009 1,155 418
2010 1,355 530
2011 YTD 621 247

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.

 

 

 

 

 

 

 

 

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April 2011 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through April, 2011.


City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in April increased overall by 7.7% while the more expensive Golf Properties decreased by 3.0% after increasing in past 6 months. I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.
Closed home sales in April showed a 9.0% increase over March and made April the best month in La Quinta since June of 2010. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation. Also, the slight increase in mortgage interest rates may have added some urgency to our industry.


Golf Course home sales in La Quinta.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) showed an increase in April over the small declined in March. However the average price per square foot decreased 4.1% in April over March.

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity since Labor Day and more noticeably in February and March – the height of our season. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On April 30, there were 6,231 active listings, 2,730 units in escrow totaling 8,961 units available for sale which makes 30.47% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year All LQ Golf Course
2002 1,354 259
2003 1,565 652
2004 1,931 813
2005 1,553 657
2006 1,098 491
2007 935 447
2008 1,063 416
2009 1,155 418
2010 1,355 530
2011 YTD 488 191

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.

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March 2011 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through March, 2011.


City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

March continues to show a rebound from the months of December and January’s declining sales numbers making the first quarter of 2011 the strongest since before the same quarter in 2008.  We continue to see an  improvement in consumer confidence and interest in the “over $1 million” market. Open escrows in March increased overall by 12.3% while the more expensive Golf Properties increased by 13.8% after an increase in February.  I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.

Closed home sales in March showed a 5.6% increase over February and made March the best month in La Quinta since June of 2010. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation. Also, the slight increase in mortgage interest rates may have added some urgency to our industry.

Golf Course home sales in La Quinta.

Unlike the overall sales numbers above, the sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) also declined slightly in March. However the average price per square foot increased 15.6% in March over February.
Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity since Labor Day and more noticeably in February and March.  The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On March 31, there were 6,691 active listings, 2,567 units in escrow totaling 9,258 units available for sale which makes 27.73% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year All LQ Golf Course
2002 1,354 259
2003 1,565 652
2004 1,931 813
2005 1,553 657
2006 1,098 491
2007 935 447
2008 1,063 416
2009 1,155 418
2010 1,355 530
2011 YTD 343 135

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.

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February 2011 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through February, 2011.

City of La Quinta home sales by month since February, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

February marks a rebound to the two previous months of declining sales numbers, we continue to see a marked improvement in consumer confidence and an increase in interest in the “over $1 million” market.  Open escrows in February increased overall by 7.2% while the more expensive Golf Properties increased by 11.5% after an increase in January.  I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.  Closed home sales in the 28 days in February showed a 39.8% increase over the 31 days of January and made February the best month in La Quinta since June of 2010. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation.  Also, the slight increase in mortgage interest rates may have added some urgency to our industry.


Golf Course home sales in La Quinta.

Like the overall sales numbers above, the sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) also took a significant 93.1% jump in February. The average price per square foot only increased 2.5% in February over January.

Overall, we are still seeing positive signs in the market place.  There has been a steady increase in activity since Labor Day and more noticeably since the beginning of November.　The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On February 28, there were 7,023 active listings, 2,439 units in escrow totaling 9,462 units available for sale which makes 25.78% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

Here are some yearly sales figures (units) for the City of La Quinta from 2002: 

Year All LQ Golf Course
2002 1,354 259
2003 1,565 652
2004 1,931 813
2005 1,553 657
2006 1,098 491
2007 935 447
2008 1,063 416
2009 1,155 418
2010 1,355 530
2011 YTD 211 85　
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An Evening at the Madison Club, La Quinta.

We toured the Madison Club last evening and what a phenominal experience. The level of service is impeccable as are the grounds, ammenities and really everything associated with the club. There’s an inviting and welcoming aura that all Discovery Land Company properties seem to promote so well and that wasn’t missing here. It was country club living at its finest and something that I instantly wanted to be a part of!

There are a total of 217 available parcels at the club which breakdown as follows:

  • 193 custom lots which range in size from .5 to 1.5 acres and $1m – $3m.
  • 17 Villas (semi custom detached homes) which are 4000 sqft+ and start over $3 million.  Off golf course.
  • 5 Club House Suites, which are 1000 sqft hotel-like suites on the second floor of the club house. They are all sold, and ranged in sale price between $1.5 – $2 million (yeah, $1000/sqft).

Discovery finished the physical amenities in March 2010 (club house, pool, locker rooms, fitness center, spa facitilies tennis etc — the golf course had been previously completed).  By finishing the clubhouse, Madison Club was able to make a grand statement in a challenging economy that reinforced the club is here to stay, and promote a level of service and lifestyle that is hard to beat.  Buyers listened.  They have over 110 of their custom lots sold and all but one of their completed Villas sold (I believe 9 out of the 17 are completed).

They have one membership available called their Legacy Membership.  It’s an 80% equity membership (you keep 80% of its sold value) and the deposit is $200,000.  The dues are $33,000 per year which is steep (and in line with other A list clubs in the valley), but there’s a unique and valuable twist to their Legacy membership which other comparable clubs don’t offer.  The membership includes ALL family members of the member:  the member’s parents and the member’s children, along with their spouses and children of children!  So everything the club has to offer is available to the entire family – the perfect solution for family vacations.

Here are a few pictures around the property.

The clubhouse and the 18th green.

Views from outside the men’s locker room.

Looking down at the pool from the deck of the clubhouse.

The infinity pool at 53556 Ross Ave.  The 4 bedroom, 9500 sqft home is listed at $8.2 million.  Call us for a private showing!

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January 2011 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through January, 2011.

City of La Quinta home sales by month since January 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Although, January marks the second straight month of declining sales numbers, we continue to see a marked improvement in consumer confidence and an increase in interest in the “over $1 million” market.  Open escrows in January increased overall by 4.2% while the more expensive Golf Properties increased by 14.7% after a decline in December.  I believe that as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.  Closings in December and January made those two of the best months that Gallaudet Properties has ever had and February looks good too!  The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation.  Also, the slight increase in mortgage interest rates may have added some urgency to our industry.

Golf Course home sales in La Quinta

Like the overall sales numbers above, the sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) also declined in January. The average price per square foot remained unchanged in January over December.
Overall, we are still seeing positive signs in the market place.  There has been a steady increase in activity since Labor Day and more noticeably since the beginning of November.　The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.
La Quinta Inventory:
On January 31, there were 7,153 active listings, 2,247 units in escrow totaling 9,399 units available for sale which makes 23.91% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year All LQ Golf Course
2002 1,354 259
2003 1,565 652
2004 1,931 813
2005 1,553 657
2006 1,098 491
2007 935 447
2008 1,063 416
2009 1,155 418
2010 1,355 530
2011 YTD 86 29　
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Sales Stats for South La Quinta by Community

Here are some sales figures for all 71 comunities in South La Quinta for the six months ending October 31, 2010. These figures represent all sales including foreclosures, short sales and resales. The first page includes a graph of sales from 1998 through October 2010 as compared to the historical annual 4.5% appreciation rate. You can clearly see the “Bubble: and how we have progressed beyond it. The next page has a graph which shows monthly sales figures for 2009 1nd 2010.

The third and fourth pages show sales information for the 71 communities that make up South La Quinta in our Multiple Listing Service (MLS) sorted by: community Name, Number of Homes Sold, Average Sale Price and Average Price per Square Foot.

Click the link below to view the report.

South LQ Sales 10-31-2010

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October 10 Price Report

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta through October, 2010.　
City of La Quinta home sales by month since January 2008*　 

The blue lines represent 2008 data, the orange lines represent 2009 data and the magenta lines represent 2010 data.

As Fall approaches, we see signs of the seasonal increase of the La Quinta home sales for　October after what seemed like a very long, hot summer. Sales Showed a marked increase in October over September but only a slight increase over October 2009. were lower in September than　August and for the　second time since June, 2009, lower than the same month a year earlier.　Open escrows in　October rose 3.1% which　is　obviously a good thing not terribly surprising　as we move in the seasinal sales cycle. Consumer confidence, which　seemed to have turned into a wait and see attitude seems to also be on the rise.　Prices seem to be stabilizing in the under $1,000,000 market. Although the above $1,000,000 market has not seen the improvement of the under $1m market, year-to-date sales of $1m+ homes in 2010 amounts to 11.7% of the total as compared to 9.5% for the calendar year of 2009. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation. 

　
Golf Course home sales in La Quinta　 

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) have improved even more than the total with the arrival of the season. The average price per square foot dropped 14% in October over September’s 2% rise.

Overall, we are still seeing positive signs in the market place.　There has been a steady increase in activity since Labor Day and more noticibly since the bigginning of November.　The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becomming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On October 31, there were 5,774 active listings, 1,897 units in escrow totalling 7671 units available for sale which makes 27% of the total in Escrow.

 If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

 Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year

 All

 LQ Golf Course
2002

 1,354

 259
2003

 1,565

 652
2004

 1,931

 813
2005

 1,553

 657
2006

 1,098

 491
2007

 935

 447
2008

 1,063

 416
2009

 1,155

 418
2010 YTD

 1,087

 455　(Oct)