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December 2010 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 December, 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.

Although the December numbers are down slightly, we continue to see a marked improvement in consumer confidence and an increase in interest in the “over $1 million” market in December after very little interest in that segment over the past year. Open escrows in December declined 5.1% which is not too surprising with the Holidays and our books indicate a strong January in the making.  There has been, in my humble opinion, a dramatic change in consumer confidence for the better.  Now buyers seem to be willing to make a move and in fact are making moves.  Closings in December and January will be two of the best months that Gallaudet Properties has ever had! Prices seem to have stabilized and, now that the “Capital Gains” tax issue (“Bush tax cuts”) is behind us for the next 2 years the activity in the $1,000,000 and above market has improved and we are putting some of the higher priced homes under contract. 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) have declined in December which is typical of the Holiday months of November and December. The average price per square foot declined 17.9% in December over November’s 38.6% increase.  Other than last year, December has been a little weak do to the holidays that devert attention away from our industry.

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 beginning 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 December 31, there were 6,857 active listings, 2,136 units in escrow totalling 8,993 units available for sale which makes 23.75% 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　
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November 2010 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 November, 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.

With the arrival of the 2010-2011 season and the passing of the elections, we have noticed a marked improvement in consumer confidence and the seasonal increase of the La Quinta home sales for November after the annual slump in October. Sales showed a marked increase in November over October and has surpassed the same months in 2008 and 2009.  Open escrows in November rose 7.7% which is obviously a good thing and lets us look forward to a strong December.  There has been, in my humble opinion, a dramatic change in Consumer confidence.   Through the summer, buyers have looked at homes and left the impression that they would return when times got better.  Now they seem to be willing to make a move and in fact are making moves.  Prices seem to have stabilized in the under $1,000,000 market and although jumbo loans are not any easier to get, the activity in the $1,000,000 and above market has improved and we are putting some of the higher priced homes under contract. 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 rose 38.6% in November over October’s 14% decline. Historically, October has been a “down” month but this November has showed a 56.3% increase in the average price of the Golf Course home sold in October.

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 biginning 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 November 30, there were 7,059 active listings, 2,288 units in escrow totalling 9,347 units available for sale which makes 24.5% 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 1,248 496　(Nov)
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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)

 

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September 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 September 2010.


 City of La Quinta home sales since January 2008 

The blue lines represent 2008 data, the orange lines represent 2009 data and the magenta lines represent 2010 data.
The chart above shows monthly sales of homes within the city of La Quinta*.

As the end of the hot summer months approaches, We see a continuing softening of the La Quinta home sales for September. Sales 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 September dropped 5.8% which is not terribly surprising during the hot summer months but is an indicator of the usual lazy sales for this time of year. Consumer confidence, which seemed to have steadied in the previous few months has turned into a wait and see attitude leading up to the November Mid-term elections. Prices seem to be stabilizing in the under $1,000,000 market. The above $1,000,000 market has not seen the improvement of the under $1m market but this is likely due to the unavailability of jumbo loans. 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 fallen off as expected with the arrival of the summer heat. The average price per square foot dropped 11.5% in August over July’s prices BUT it has come back 2% in September.

Overall, we are still seeing positive signs in the market place. There has been an increase in activity since Labor Day and, hopefully, buyers are getting ready for the upcoming season. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans continue to be a stumbling block in the higher end market.

A correction to be made…
Last month I mistakenly interpreted the inventory data to mean that 1,906 units out of the 5,115 Active listings were pending. The 1,906 units were in addition to the 5,115 unit totalling 7,021 active and pending units for sale in the Coachella Valley. That means that only 27% of the total units were were pending.

On September 30, there were 5,233 active listings, 1,825 units in escrow totalling 7058 unit available for sale which makes 25.9% 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 986 422 (Sept)

 

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.

Figures are from the Desert Area MLS

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August 2010 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 August 2010.

La Quinta home sales since January 2008
City of La Quinta home sales since January 2008

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

The chart above shows monthly sales of homes within the city of La Quinta*.

As is typical of the hot summer months, the La Quinta home sales for August were lower than July and for the first time since June, 2009, lower than the same month a year earlier. Open escrows in August dropped 6% which is not terribly surprising during the hot summer months but is an indicator of the usual lazy sales for the next few months. Consumer confidence, which seemed to have steadied in the previous few months has turned into a wait and see attitude leading up to the November Mid-term elections. Prices seem to be stabilizing in the under $1,000,000 market. The above $1,000,000 market has not seen the improvement of the under $1m market but this is likely due to the unavailability of jumbo loans. 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 Real Estate slae in La Quinta
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 fallen off as expected with the arrival of the summer heat. The average price per square foot has dropped 11.5% over July’s prices.

Overall, we are still seeing positive signs in the market place. People on the street that we talk to believe that prices have bottomed out. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans continue to be a stumbling block in the higher end market. The bottom line is that at the beginning of the downturn in 2006, there were over 10,000 homes available for sale in the Coachella Valley – a real glut.  Currently, that number is down to under 5,115 with 1,906  (37%) of those currently under contract. As the supply dwindles, the market begins to stabilize and people feel more comfortable to get back into the marketplace.

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 914 390 (August)

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.

Figures are from the Desert Area MLS

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July 2010 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 July 2010.

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

The chart above shows monthly sales of homes within the city of La Quinta*.

The sales for La Quinta in July were lower that June but still higher than sales for the previous 2 July’s. July showed a slight rebound in open escrows over June’s 17% drop from May. It is typical for sales to slow during the summer months but each month in 2010 has seen sales that have surpassed the same months of the previous two years. Consumer confidence seems to have steadied. Prices have not started to rise, but they seem to be stabilizing in the under $1,000,000 market. The above $1,000,000 market has not seen the improvement of the under $1m market but this is likely due to the unavailability of jumbo loans. 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.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) have fallen off as expected with the arrival of the summer heat. The average price per square foot, however, has risen slightly from June’s figures. 

Overall, we are still seeing positive signs in the market place. Although prices have not yet stabilized in the higher end (over $1 million), prices seemed to have stabilized in the lower market segments. The mortgage industry continues to be a stumbling block in the higher end market as it seems that unless you can prove that you don’t need a Jumbo Loan (over $500,000), you can’t get one! The bottom line is that at the beginning of the downturn in 2006, there were over 10,000 homes available for sale in the Coachella Valley – a real glut, currently, that number is down to under 5,100. As the supply dwindles, the market begins to stabilize and people feel more comfortable to get back into the marketplace.

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 825   363 (July)

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.

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June 2010 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 June 2010.

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

The chart above shows monthly sales of homes within the city of La Quinta*.

The sales for La Quinta in June were the strongest since May, 2006. But… Sales are recorded at the close of escrow and most escrows are 45 – 60 days. As we enter the summer months there has been a 17% drop in open escrows during June over May so we should expect to see a typical seasonal drop in the sales numbers in the next month or so. Last month consumer confidence seemed to follow the stock market into the doldrums as buying activity in June seemed to slow down when compared to May. Personally, our team continues to put non-distressed, “regular” home sales together this year, which has been a welcomed change. Prices have not started to rise, but they seem to be stabilizing in the under $1,000,000 market. The above $1,000,000 market has not seen the improvement of the under $1m market but this is likely due to the unavailability of jumbo loans. 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.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) are the highest since May of 2008 (one shy) but the average price per square foot dropped 6% from May’s figures. The golf course home numbers have been fluctuating all year so this is not a surprising change and the June numbers were very close to Aprils figures.

Overall, we are still seeing positive signs in the market place. Although prices have not yet stabilized in the higher end (over $1 million), prices seemed to have stabilized in the lower market segments. The mortgage industry is still a stumbling block in the higher end market as it seems that unless you can prove that you don’t need a Jumbo Loan (over $500,000), you can’t get one! The bottom line is that at the beginning of the downturn in 2006, there were over 10,000 homes available for sale in the Coachella Valley – a real glut, currently, that number is down to under 5,100. As the supply dwindles, the market begins to stabilize and people feel more comfortable to get back into the marketplace.

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 705 317 (June)

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.

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May 2010 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 2010.

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

The chart above shows monthly sales of homes within the city of La Quinta*.

The sales for La Quinta in May were one shy of April which were the strongest since May, 2006. We continue to notice an improvement in consumer confidence and an increase in buying activity in homes over $700,000, which has been slow over the past 18 months. Personally, our team continues to put non-distressed, “regular” home sales together this year, which has been a welcomed change. Prices have not started to rise, but they seem to be stabilizing as there has not been a significant change since March as buyers are starting to seize the well-priced homes on the market. 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.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) retreated slightly in May but the average price per square foot continued to improve. Sales in May were 3 units lower than April but were still stronger than any previous month since May, 2008. We are hoping this continues through the summer sellling season.

Overall, we are seeing some positive signs in the market place. Although prices have not yet stabilized in the higher end (over $1 million), there are signs of stabilization beginning in the lower market segments. The mortgage industry is still a stumbling block in the higher end market as it seems that unless you can prove that you don’tneed a Jumbo Loan (over $500,000), you can’t get one! The bottom line is that at the beginning of the downturn in 2006, there were over 10,000 homes available for sale in the Coachella Valley – a real glut, currently, that number is down to under 5,800. As the supply dwindles, the market begins to stabilize and people feel more comfortable to get back into the marketplace.

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 570  253 (May)

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.

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April 2010 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 2010.

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

The chart above shows monthly sales of homes within the city of La Quinta*.

The sales for La Quinta in April were the strongest since May, 2006. We continue to notice an improvement in consumer confidence and an increase in buying activity in homes over $600,000, which has been slow over the past 18 months. Personally, our team has put many non-distressed, “regular” home sales together in the last 3 months, which has been a welcomed change.  Prices have not come up, but perhaps they are coming closer to stabilizing as buyers are starting to seize the well-priced homes on the market.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) continues to slowly improve as well. Sales in April were the strongest since May, 2008 and continue their rising trend. This is a great sign.  We look forward to an even stronger May.

Overall, we are seeing some positive signs in the market place. Although prices have not yet stabilized in the higher end (over $1 million), there are signs of stabilization beginning in the lower market segments. The mortgage industry is still a stumbling block in the higher end market as it seems that unless you can prove that you don’t need a Jumbo Loan (over $500,000), you can’t get one!  The bottom line is that at the beginning of the downturn in 2006, there were over 10,000 homes available for sale in the Coachella Valley – a real glut, currently, that number is down to under 5,800. As the supply dwindles, the market begins to stabilize and people feel more comfortable to get back into the marketplace.

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   444          196 (April)

* When looking at “sold” data, you have to remember that the numbers are generated on the date that the sale is recorded with the county but that the decision to buy was made about 45 – 60 days earlier.