If you're in the market for a property in one of the top country clubs in and around Palm Springs, California, understanding the current real estate market trends is crucial. Here's a snapshot of the latest data from the Franklin Loan Center(FLC) Detached Country Club Price Index, giving you insights into prices, sales, inventory, and more for fifteen of the leading country clubs:
- Desert Horizons Country Club
- Rancho La Quinta Country Club
Prices
The FLC Detached Country Club Price Index reveals that the average price of a 2,600 square foot home in these country clubs is $1,143,562, showing a 2.6% decrease year over year. Individual country clubs, however, showcase varied trends, with gains ranging from 25.1% in Palm Desert Country Club to -21.9% in Ironwood Country Club.
Sales
In January, the fifteen clubs averaged 41 units sold per month, marking an 18% decrease from the previous year. Despite this decline, dollar sales across all clubs averaged $39 million a month over the last three months, indicating a 34% increase from last year.
Inventory
As of January, there were 211 total listings in the fifteen detached country clubs, compared to 160 units last year. The "months of sales" ratio stood at 5.1 months, up from 3.3 months last year, indicating a slight increase in inventory.
Days on Market
The average "Days on Market" for detached country clubs in January was 53 days, compared to 46 days a year ago. Selling times varied by country club, with Morningside Country Club boasting the lowest average of 16 days and Rancho La Quinta Country Club averaging 82 days.
Price Discount/Premium
In January, detached homes in the fifteen country clubs sold at an average discount of 2.8%, slightly lower than the 3.2% discount seen a year ago. Discounts ranged from an average of 0.6% in Palm Desert to 7.1% in the Avondale Country Club.
If you're considering a property in one of these prestigious country clubs, now is an opportune time to explore your options. Visit our website to view listings in these areas and take advantage of the current market conditions. We extend our gratitude to Walter Neil at Franklin Loan Center for providing valuable insights and reports, enabling us to offer you a comprehensive understanding of the market. Walter is available to assist with all your loan needs, ensuring a seamless and stress-free purchasing experience.