Category: Monthly Sales Reports

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 2009.

The blue lines represent 2008 data and the orange lines represent 2009 data.

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

The sales for La Quinta in July are very close to June’s numbers and remain just under where we were in 2008. We continue to notice an improvement in consumer confidence and an increase in buying activity in homes over $400,000, 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. June and July have been the 2 best months of the year and July was ahead of the same month last year for the first time in 2009. This is a great sign.  While August is traditionally the slowest month of our year, we have remained busy — it will be interesting to see how August’s numbers look.

Overall, we are seeing some positive signs in the market place. Prices continue to be soft, but sales-volume remains consistent. 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 YTD    637          236 (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.

Here is our latest sales report for all homes sold within the city of La Quinta as well as all Golf Course homes in La Quinta through May 2009.

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 2009.

The blue lines represent 2008 data and the orange lines represent 2009 data.

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

Although the sales in June are still lagging behind the same period in 2008, the number is  very close to May’s number and continues to be leading this years recovery. We continue to notice an improvement in consumer confidence and an increase in activity in the higher priced homes brought on by two factors. The continued improvement of the markets on Wall Street and the falling prices of homes. An interesting statistic this month is that the decline in price per square foot of “all” LQ homes increased slightly. This is directly related to the scarcity of distressed properties – foreclosures and “short sales” – that tend to bring down the market value of the homes being sold. Earlier this spring, the government sponsored a moratorium on banks releasing foreclosures to moderate their downward affect on the housing market. That moratorium has been lifted but we still haven’t seen the expected flood (or even a wave) of distressed property hit the local market yet and, in fact, the “distressed” inventory currently remains very low.

The number of homes sold in golf course communities in La Quinta has decreased since this time last year but continues its steady climb upwards. While the lower end of the market has been extremely active ($400,000 and below), the upper-end (which contains many of the golf properties in the chart above) continues to be sluggish but is improving. June and July have been the 2 best months of the year.

Because of the sluggishness of this higher end market there are many really good deals available. If buying a golf property is something on your list, 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.

The bottom line…

Unit sales in 2009 are lagging behind the same period last year reflecting the downward trend of the general housing market. Please remember that the decline of the real estate market greatly accelerated in September 2008 when our economy went into crisis and consumer confidence disappeared. We are now, 8 months later, beginning to see increased activity; a trend that many economists believe will continue to grow in the next several months. With home prices as low as they are now (pre 2004), and capital starting to flow back into the banking system, tremendous opportunity exists right now for buyers in all spectrums of the market.

Also, we all hear about “the Bottom”, where is it, when will we hit it etc. We think that it may be closer than you may guess. See my entry: Click here to read “In Search of the Bottom…”
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 YTD    532          205 (June)

The big story last week was the poor jobs report. The Labor Department reported 467,000 jobs lost in the month of June, far worse than expectations of 365,000. The Unemployment rate rose to 9.5%, its highest level since August of 1983 and up from last month’s 9.4% reading. And unlike Job creations, the Unemployment Rate is an actual telephone survey of approximately 60,000 households, which makes this number more reliable. But something to consider, is the growing number of individuals who are employed by temporary or part-time means. The US has lost about 6.5 million jobs since the recession began in December 2007, which is the biggest drop seen in any post-World War II economic slump.

Consumer Confidence also came in worse than expected. The Conference Board Consumer Confidence Index, which improved considerably in May and was up for the third straight month, retreated in June. The Index now stands at 49.3, down from 54.8 in May. Although the poor jobs and consumer sentiment numbers pushed the stock market down, mortgage rates remained unchanged for the week. We have certainly make back a good portion of the losses we had in mortgage rates several weeks ago, but the sentiment continues to be that the best in mortgage rates may be behind us. Nonetheless, rates are very low and the next six months may present excellent refinancing opportunities if you have not done so already.

This report is provided by one of our mortgage partners, Austin Andruss, who can be reached at 415-869-6135.

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 2009. The blue lines represent 2008 data and the orange lines represent 2009 data.

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

Although the sales in May are still lagging behind the same period in 2008, there has been a fair jump compared to the previous month of April. We continue to notice an improvement in consumer confidence and an increase in activity in the higher priced homes brought on by two factors. The improving markets on Wall Street and the falling prices of homes. An interesting statistic is that as the number of sales increase, the average price per square foot has declined drastically. This is directly related to the popularity and abundance of distressed properties – foreclosures and “short sales” – that tend to bring down the market value of the homes being sold. Earlier this spring, the government sponsored a moratorium on banks releasing foreclosures to moderate their downward affect on the housing market. That moratorium has been lifted but we haven’t seen the expected flood (or even a wave) of distressed property hit the local market yet and, in fact, the “distressed” inventory is currently very low.

The number of homes sold in golf course communities in La Quinta has decreased since this time last year. While the lower end of the market has been extremely active ($400,000 and below), the upper-end (which contains many of the golf properties in the chart above) has been sluggish. This can be attributed to many things, such as the higher interest rates and tougher qualifications in the “jumbo” loan market, although these restrictions are slowing being lifted.

Because of the sluggishness of this higher end market many sellers are reducing prices and offering incentives to lure buyers. If buying a golf property is something on your list, 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.

The bottom line…

Unit sales in 2009 are lagging behind the same period last year reflecting the downward trend of the general housing market. Please remember that the decline of the real estate market greatly accelerated in September 2008 when our economy went into crisis and consumer confidence disappeared. We are now, 8 months later, beginning to see increased activity; a trend that many economists believe will continue to grow in the next several months. With home prices as low as they are now (pre 2004), and capital starting to flow back into the banking system, tremendous opportunity exists right now for buyers in all spectrums of the market.

Also, we all hear about “the Bottom”, where is it, when will we hit it etc. We think that it may be closer than you may guess. See my entry: Click here to read “In Search of the Bottom…”

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 YTD    425          152 (May)

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. The blue
lines represent 2008 data and the orange lines represent 2009 data.

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

Although the sales in April are still lagging behind the same period in 2008, we have noticed an improvement in consumer confidence and a slight increase in activity in the higher priced homes brought on by the improving markets on Wall Street. Economists have predicted a slow but steady improvement in the housing market as the year goes on.

We’ll all see if the economists are correct as we proceed into and through the hot months ahead.

The
number of homes sold in golf course communities in La Quinta has
decreased since this time last year. While the lower end of the market
has been extremely active ($400,000 and below), the upper-end (which
contains many of the golf properties in the chart above) has been
sluggish. This can be attributed to many things, such as the higher
interest rates and tougher qualifications in the jumbo-loan market, and
many 2nd home buyers have been waiting on the sidelines to re-enter the
marketplace once they feel more confident in the economy.

We have sensed
pent-up-demand building and seen increasing activity in the upper-end markets – we’ll all have to see where this summer takes us.

If buying a golf
property is something on your list, 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.

The bottom line…

Unit
sales in 2009 are lagging behind the same period last year as
far as the numbers and the price/value of the homes reflecting the
downward trend of the general housing market. Please remember that the
decline of the real estate market greatly accelerated in September,
2008 when our economy went into crisis and consumer confidence
disappeared. We are now, 7 months later, beginning to see increased
activity, a trend that many economists believe will continue to grow in
the next several months. With home prices as low as they are now, and
capital starting to flow back into the banking system, tremendous
opportunity exists right now for buyers in all spectrum’s of the market.

Here are some yearly sales figures 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 YTD    320          113

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. The blue lines represent 2008 data and the orange lines represent 2009 data.

The chart above shows annual sales of homes within the city of La Quinta. 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 days earlier. As you can see from the chart above, our “season” begins after the new year and tapers off with the heat in June and July. We see a little spike in September and October in the number of homes sold from the folks that believe that the best deals can be had in the highest heat of the summer.

The number of homes sold in golf course communities in La Quinta has decreased since this time last year. While the lower end of the market has been extremely active ($400,000 and below), the upper-end (which contains many of the golf properties in the above report) has been sluggish. This can be attributed to many things, such as the higher interest rates and tougher qualifications in the jumbo-loan market, and many 2nd home buyers have been waiting on the sidelines to re-enter the marketplace once they feel more confident in the economy. We have seen A LOT of pent-up-demand from buyers waiting and we feel that when things return, they are going to return in a big way.  If buying a golf property is something on your list, 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 holding for 5+ years.

The bottom line…

Unit sales in 2009 are beginning to lag behind the same period last year as far as the numbers and the price/value of the homes reflecting the downward trend of the general housing market. Please remember that the decline of the real estate market greatly accelerated in September, 2009 when our economy went into crisis and consumer confidence disappeared. We are now, 6 months later, beginning to see increased activity, a trend that many economists believe will continue to grow in the next several months. With home prices as low as they are now, and capital starting to flow back into the banking system, tremendous opportunity exists right now for buyers in all spectrum’s of the market.

Here are some yearly sales figures 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

We are publishing sales figures for all homes sold within the city of La Quinta as well as all Golf Course homes in La Quinta. The blue lines represent 2008 data and we are adding the orange lines that represent 2009 data.

The chart above shows annual sales of homes within the city of La Quinta. 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 days earlier. As you can see from the chart above, our “season” begins after the new year and tapers off with the heat in June and July. We see a little spike in September and October in the number of homes sold from the folks that believe that the best deals can be had in the highest heat of the summer.

La Quinta homes located on a golf course, although more expensive, mirror the seasonal sales figures of all homes in La Quinta. After a slow start, this years sales are catching up to last years.

The bottom line…

Unit sales 2009 over 2008 are ahead of last year as far as the numbers go but the price/value of the homes has dropped reflecting the downward trend of the general housing market.

Here are some yearly sales figures 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