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) |