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 from January, 2008 throughApril, 2014.
The inventory of “Active Listings” in the Coachella Valley increased slightly from January through March but then slowed slightly in April as we approached the end of the “season”. The number of Sold units rose even more making the real estate market in La Quinta move to a normal market status of a 6 month supply. One of the reasons was that although the sales increase in February was lower than expected, the increase in March was higher than expected and fell off slightly in April. The pace at which real estate prices increased in the October to January period seemed to slow to a more normal rate in February and March. The price rise slowed while the home sales increased. The activity in the million dollar+ market seems to have picked up but prices have not increased as much as they have for the under a million homes.
Below is the chart depicting the “bubble” in sales versus the historical 4.5% annual appreciation. As predicted by the National Association of Realtors back in 2005. It will be interesting to see how close the actual sales prices stay to the “Normal Appreciation” line in the coming months. One of the reasons for the recent price increases is that we have seen more American buyers in the market than in the past few years which is a sign that our economic outlook seems to be improving.
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 |
1537 |
567 |
|
2014 YTD |
514 |
262 |
* 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
CATEGORIES: BUSINESS OF REAL ESTATE, FORECLOSURES, LA QUINTA COMMUNITIES, LA QUINTA HOME FOR SALE, MONTHLY SALES REPORTS, PRICE ANALYSIS, SHORTSALES
TAGS: CHRISTIES INTERNATIONAL REAL ESTATE, CITY OF LA QUINTA, COACHELLA VALLEY GOLF, GALLAUDET PROPERTIES, HK LANE REAL ESTATE, LA QUINTA, LA QUINTA GOLF, LA QUINTA GOLF PROPERTY, LA QUINTA HOME SALES, LA QUINTA REAL ESTATE, SALE REPORT