New

$1M to $1.5M inventory

$1M to $1.5M prices

$1M and up prices

$1M and up inventory

$500,000 to $1M inventory

$500,000 to $1 M prices

05/10/13
Total units Total units sold %
Sold 2012 and In escrow of LY sold
Andalusia 18 20 111.1%
Palm Valley 72 50 69.4%
Toscana 29 19 65.5%
PGA West 216 137 63.4%
Indian Ridge 74 46 62.2%
Mountain View 29 18 62.1%
Hideaway 26 16 61.5%
Rancho La Quinta 70 42 60.0%
Indian Wells CC 73 40 54.8%
607 388 63.9%

So prices are changing!

500,000 to 1,000,000 Sales

500,000 to 1,000,000 Sales Prices

1,000,000 and up Sales

1,000,000 and up Sales Prices

1,000,000 to 1,500,000 Sales Prices

2012 2013 YTD
Country Club Condo Single Family Condo Single Family
$/sq.ft. $/sq.ft. $/sq.ft. $/sq.ft.
Andalusia na 325 na 313
Bighorn na 602 na 635
Hideaway na 430 na 454
Indian Ridge 194 256 211 265
Indian Wells 186 293 200 268
Mountain View 168 257 na 267
Palm Valley 175 na 189 na
PGA West 156 233 167 245
Rancho La Quinta 207 273 211 257
Reserve na 433 na 612
Toscana na 416 na 442
Tradition na 503 na 453
Vintage 273 390 na 475

04/05/13
Total units Total units sold %
Sold 2012 and In escrow of LY sold
Andalusia 18 15 83.3%
Indian Wells CC 73 38 52.1%
Palm Valley 72 37 51.4%
Indian Ridge 74 37 50.0%
PGA West 216 102 47.2%
Rancho La Quinta 70 33 47.1%
Toscana 29 13 44.8%
Hideaway 26 11 42.3%
Mountain View 29 12 41.4%
607 298 49.1%

We keep seeing news articles that the prices are rising.  Is this true?  Well in the desert, the “rising prices” are more a reflection of the fact that we have less bank owned and short sale inventory available so the sales that are happening are with the higher priced “regular” inventory.  Look below by Price Range:

In the 500,000 to 999,999 range:  Sales units are way up over last year…Prices are slightly down..Inventory is only slightly down from last year.

500,000-999,999 Sales

500,000-999,999 Prices

In the 1,000,000 + Range:  Inventory is up 10%, Sales are off from last year by 31%. Prices show up..What’s up?

Sales for 1,000,000 +

1,000,000 + Prices

1,000,000-1,500,000 Prices

When one looks at the prices of the 1,000,000-1,500,000, it is noted that Prices are slightly down. The prices of 1,000,000+ are skewed somewhat as there were 12 sales over 1.5M in this month of which 2 were over 5M and one was $11.1 M!

What does it all mean? Sales over $1M have been more challenging than last year. In the 500,000-999,999 sales are strong, but the prices reflect a drop of 1.2% from last year.

    02/28/13  
  Total units Total units sold
  Sold 2012 and In escrow of LY sold
       
Andalusia 18 14 77.8%
Indian Wells CC 73 26 35.6%
Palm Valley 72 25 34.7%
Toscana 29 10 34.5%
PGA West 216 74 34.3%
Indian Ridge 74 23 31.1%
Mountain View 29 9 31.0%
Hideaway 26 7 26.9%
Rancho La Quinta 70 16 22.9%
       
  607 204 33.6%

02/16/13-02/27/13                  
  New Price  New Closed Total in   Total    
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS    
                   
Andalusia 0 0 1 1 13   14    
Hideaway 3 3 2 0 6   47    
Indian Ridge 5 4 3 3 13   70    
Indian Wells CC 4 9 2 2 16   64    
Mountain View 4 3 1 0 6   35    
Palm Valley 3 3 1 5 9   40    
PGA West 9 11 18 11 44   147    
Rancho La Quinta 3 4 3 1 8   67    
Toscana 1 1 1 1 8   27    
            LY   LY 2011
Week Total 32 38 32 24 123 96 511 582 643
          % Inc/Dec 28%   -12% -21%

02/09/13-02/15/13                  
  New Price  New Closed Total in   Total    
Country Club Listings Reduc In Escrow Escrow Escrow   on MLS    
                   
Andalusia 2 1 4 0 13   15    
Hideaway 0 1 1 1 4   46    
Indian Ridge 2 2 3 1 12   70    
Indian Wells CC 2 5 1 2 17   62    
Mountain View 2 1 2 0 4   33    
Palm Valley 3 3 1 5 7   46    
PGA West 9 8 8 10 36   160    
Rancho La Quinta 2 2 4 1 6   71    
Toscana 2 0 1 0 9   20    
            LY   LY 2011
Week Total 24 23 25 20 108 87 523 590 654
          % Inc/Dec 24%   -11% -20%

Video Blog

video blog

Contact Info

Terri & Guy Munselle
Broker Associates
Coldwell Banker Residential Brokerage

45-000 Club Drive, Indian Wells, CA 92210
CA DRE Lic # 01260226 and 01260339

info@terriandguy.com | www.terriandguy.com

tel: 760-772-2411 | fax: 888-345-1295
mobile: 760-409-4560