The City of La Quinta, home sales for the first quarter of 2017 (January thru March) was the strongest we’ve seen in the 9 years we have measured it. A possible reason for this is the robust performance of the stock market. People may well be trying to preserve their portfolios by diversifying into the real estate market.
The 1st quarter of 2017 finished 137.8% ahead of the same quarter in 2016 and 126.8% above the average 1st quarter since 2008.
The beginning of 2017 has been very strong and by the looks of the beginning of the 2nd quarter this year should be one of our best. Although inventory has shrunk, price per square foot has not grown noticeably and in some cases has also shrunk. Based on last year’s summer months performance, 2017 could turn out to be our very best years ever.
A Market Watch for the entire Coachella Valley is sponsored and compiled by the Palm Springs Regional Association of Realtors (PSRAR) and the California Desert Association of Realtors (CDAR) and published monthly. That report can be seen by clicking here.
Below are some Graphs representing the City of La Quinta through March, 2017.
Here are some yearly sales figures (units) for the City of La Quinta from 2002:
Year – All LQ – Golf Course
2002 – 1,356 – 259
2003 – 1,572 – 640
2004 – 1,938 – 785
2005 – 1,563 – 638
2006 – 1,118 – 483
2007 – 942 – 444
2008 – 1,076 – 405
2009 – 1,202 – 409
2010 – 1,360 – 518
2011 – 1,446 – 510
2012 – 1,532 – 587
2013 – 1,537 – 567
2014 – 1,284 – 576
2015 – 1,259 – 512
2016 – 1,351 – 572
2017 – 412 – 198 through March
* Remember that the sales numbers represent “Closed” escrows. Since the average escrow is between 45 and 60 days, the decision to purchase the homes that closed in June was probably made in March to early April.
For more information about the Coachella Valley Real Estate market,
Please call us at (760) 203-2621!
Source: DesertAreaMLS