Palm Springs Real Estate Sales Rise 11 Consecutive Months
Real estate sales continue to climb in California's Coachella Valley.
According to the local MLS data provided by Sheri Dettman of Sheri Dettman of Sheri Dettman & Associates, home sales in this prime Palm Springs-area market increased again in May, marking the 11th consecutive month of year-over-year sales increases for the Coachella Valley.
More than 24 upscale gated communities recorded double-digit sales gains for the first six months of 2012, Dettman added, showing life in the luxury real estate sector. Additionally, many golf and country club communities as well as a number of non-golf communities recorded double-digit sales gains and price increases during the first six months of 2012 compared to the same six-month period of 2011.
Palm Springs area luxury golf and non-golf communities with average sale prices above $500,000 showed the largest sales gains and La Quinta real estate communities took five of the top ten spots on the list. Following are the largest sales gains by community over that six-month period, according to Dettman:1.
The Reserve, Indian Wells: Sales up 76.92%; Average sale $2,105,712 (+36.68%)2.
Andalusia at Coral Mountain, La Quinta: Sales up 58.33%; Average sale $1,279,833 (+0.85%)3.
Palmilla Homes, La Quinta: Sales up 66.67%; Average sale $699,708 (+3.01%)4.
Indian Springs Country Club, Indio: Sales up 34.78%; Average sale $330,694 (+7.84%)5.
Toscana Country Club, Indian Wells: Indian Wells: Sales up 31.25%; Average sale $1,734,313 (+3.87%)6.
Bighorn Golf Club, Palm Desert: Sales up 20.83%; Average sale $2,185,125 (-3.69%)7.
Hideaway Golf Club, La Quinta: Sales up 20%; Average sale $2,004,333 (-1.42%)8.
La Quinta Resort Homes & Condos: Sales up 18.52%; Average sale $646,468 (+18.30%)9.
Indian Wells Country Club: Sales up 14.81%; Average sale $849,458 (+23.74%)10.
Tradition Golf Club, La Quinta: Sales up 12.50%; Average sale $2,499,375 (+13.48%)
Meanwhile, the Madison Club in La Quinta, one of the most exclusive private golf club communities in America, also recorded impressive custom lot sales gains for the six-month period of 2012 with $35 million of home site sales (19 lots were sold at an average sale price of $1.8 million).
"It appears that buyers of resort lifestyle homes, luxury condos and custom lots in increasing numbers are continuing to take advantage of some of the best real estate opportunities in over a decade," said Dettman, principal realtor of Sheri Dettman & Associates. "Inventory of properties for sale continues to shrink as the Palm Springs area real estate market continues to improve."
Sheri Dettman & Associates is associated with Luxury Homes by Keller Williams International, the second largest residential realty company in North America. Sheri completed 74 sales transactions in 2011 in golf and country club communities throughout the Palm Springs area and in all price segments.