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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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Gallaudet Properties has a new address!

We have some exciting news!  Gallaudet Properties has joined a new real estate company, HK Lane.  This is a locally owned and managed boutique real estate company in the desert.    In the 18 months that it has been in business it has opened 3 offices: La Quinta, Palm Desert, and Palm Springs.  The agents that have been attracted are experienced and successful and we are thrilled and proud to be a part of the excitment.  The company is owned by Harvey Katofsky, a well respected leader in the real estate industry.  Previously Harvey was the owner of Fred Sands Desert Realty which he opened in the Desert in 1994, expanded to 5 offices, and sold to Coldwell Banker in 2004.  We are thrilled to be back with Harvey and a part of this new and dynamic company which is growing in all the right directions, even during these difficult times! Please come visit us in our new office located at 78100 Main Street in Old Town La Quinta.

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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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79605 Mandarina in the Citrus

We have an exceptional single family attached home in the Citrus priced to sell quickly at only $615,000. This 2,439 sqft home with 3 bedrooms and 3 baths has a private front courtyard with fountain and a great south facing rear patio overlooking the 9th fairway, the practice range and the 1st fairway before the beautiful Santa Rosa mountains. The interior is beautifully decorated with a southwestern flair.  This home has been beautifully upgraded and won’t be on the market long. The owners are purchasing another home in the Citrus and are motivated!  Please call us for a private showing!  Click here to see the listing and pictures.

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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.