Luxury Home Sales for the City of La Quinta have continued to increase over the past 6 months. Luxury Home sales are homes sold for $1,000,000 +.
Luxury Home Sales by Month:
July, 2011: A total of 3 homes sold with 5 homes pending
August, 2011: A total of 7 homes sold and 7 homes pending
September, 2011: A total of 3 homes sold with 5 homes pending
October, 2011: A total of 6 homes sold and 6 homes pending
November, 2011: A total of 13 homes sold with 8 homes pending (Nice jump!)
December, 2011: A total of 9 homes sold and 8 homes pending
From July, 2011 to December 2011, there was a 200% increase in total number of Luxury homes SOLD. The Average SOLD price decreased by approximately 11% over the same 6 month period. Average days on the market has come way down too. In July, these homes were taking approx. 266 days to move, but by December, it was only 187 days. So..prices have come down a bit, homes don’t sit as long, and sales have gone up!
Interesting note: The price/sf has increased pretty steadily. In July, it was $467/sf, dropped to $328/sf in November of 2011, but by December, the average price/sf was back at $439.
La Quinta’s Luxury Homes are definately having a shorter shelf life. If you’re thinking about that luxury home, it might be a good time to get out and take a look at the Inventory in La Quinta.