Desert Luxury Community Report

Earlier this month we released the Housing Report for the entire Coachella Valley. Now we’d like to focus on the Luxury Communities that account for over one third of regional dollar sales. The Luxury Community Report is comprised of the four submarkets that encompass the majority of luxury real estate in the Coachella Valley. These four submarkets are Luxury Homes, Attached Country Clubs, Detached Country Clubs, & PGA West.

Coachella Valley Market Update

The median price of a detached home in the Coachella Valley in January was $660,000, down 1.8% year over year. The median price of an attached home in January was $475,000, up 9.2% year over year. Prices often begin to rise in January, and we think this seasonal pattern has started this year. For another month, three-month sales are ahead of last year. The number this January was 510 units sold, compared to 436 units a year ago. Sales in January are now running 28.6% below normal, which is an improvement from last month.

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Desert Living For January 2024

The American Express PGA Tour event will be held at PGA West and La Quinta Country Club in La Quinta, CA from January 15-21, 2024. The musical headline acts are Keith Urban and Train. Daily passes start at $60. Daily ticket holders also have access to the FREE concerts on Friday, January 19 (Keith Urban) and Saturday, January 20 (Train) that follow the completion of golf on those days. Experience the world’s best golfers in the world’s best playground, the Coachella Valley.

Coachella Valley Market Update

The median price of a detached home in the Coachella Valley ended November at $635,000, down for the month and also down 1.6% year over year. The median attached price in the Valley rose to $457,000 and is now up 2.7% year over year. The three-month average of sales was 480 units a month in November, which is 20 units below last year. In November, Valley inventory increased 150 units and by December 1 st it stood at 2,260 units. This is the highest inventory since the start of the pandemic in early 2020.

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Desert Living For December 2023

Discover the delights of the holiday season under starlit skies and swaying palm trees. Enjoy roller skating on one of our various theme nights featuring an assortment of tunes ranging from classic rock and country to disco and holiday hits. If roller skating isn’t your cup of hot cocoa, then feel free to stop by and, enjoy a drink or game at the entertainment zone and Ice Bar, or rent you own private snow globe.

Coachella Valley Market Update

The median price of a detached home in the Coachella Valley ended October at $642,450, up slightly for the month but down 2.7% year over year. The price decline over the last five months has been primarily seasonal. The median attached price in the Valley was effectively unchanged last month at $435,000 and is now down 4.4% year over year. The three-month average of sales was 513 units in October, which is 53 units less than last year. The 12-month average of sales, which takes out seasonality, shows sales are averaging 599 units a month. In October, Valley inventory increased 348 units and by November 1st it stood at 2,110 units. While most of this increase is seasonal, we’re struck by the size of the gain, which is larger than most increases in October.

Desert Living For November 2023

The Palm Springs Food and Wine Festival will be nothing you have ever experienced. Hip, cool, bohemian and innovative like only Palm Springs can showcase. Don’t miss what is sure to be a vibrant celebration of flavor and creativity! Join Desert Sotheby’s International Realty all weekend under our party tent with bottles of Sotheby’s Lot 001 champagne being given away.

Coachella Valley Market Update

The median price of a detached home in the Coachella Valley ended September at $660,404, unchanged for the month but down 1.4% year over year. The median attached price in the Valley declined $4,000 in September to $435,000 and is now down 6.5%. The rapid rise in long term mortgage rates continues to impact monthly sales. The three-month average of sales declined in September to 532 units a month, which is 49 units less than last year. On October 1st, Valley inventory was 1,601 units, which is 161 units more
than last month. At the end of September, the median number of “days in the market” in the Coachella Valley was 38 days, which is the same as last month and six days more than last year. In September, 17.1% of sales sold above list price, compared to 28.8% a year ago.