Wasserman Real Estate Group Blog

Are you considering a move to a 55+ active adult community? Stay informed with our monthly market update! In this edition, we delve into the latest trends shaping the real estate landscape for the active adult demographic. From prices and sales to inventory and days on the market, we've got you covered with the crucial insights you need.

Prices: Stability Amidst Fluctuations

The latest data from the Franklin Loan Center (FLC) Active Adult Price Index reveals a stable pricing environment in the 55+ active adult market. The average price for a 1,900 square foot home in eight active adult communities concluded November at $579,083, reflecting a modest 6.4% year-over-year decrease. Notable variations exist among individual developments, with gains ranging from 1.1% for Villa Portofino to a decrease of 12.9% for Trilogy Polo Club.

Sales: Adapting to Changing Dynamics

November saw a 15.8% decline in sales across all eight communities, averaging 64 units per month. Dollar sales of active adult communities over the past three months averaged $29 million monthly, signaling a 9% reduction compared to the previous year. While the market is adapting to changing dynamics, these figures underscore the resilience of the 55+ active adult real estate market.

Inventory: Maintaining Equilibrium

As of the end of November, there were 183 units listed across the eight adult communities, marking a decrease of 17 units compared to the previous year. The "months of sales" ratio for November was 2.9 months, slightly higher than the 2.7 months recorded last year. Despite the slight increase, this ratio indicates a balanced supply and demand, a positive factor for maintaining stable active adult prices.

Days in the Market: Patience is a Virtue

The average "Days in the Market" for active adult communities in November was 61 days, a notable increase from the 39 days recorded a year ago. Selling times ranged from 46 days in Sun City Shadow Hills to 97 days in Trilogy. While patience may be required, the market's steadiness suggests that buyers and sellers are finding common ground.

Price Discount/Premium: Navigating Negotiations

In November, homes in the eight adult communities sold with an average discount of 2.2%, compared to the 0.8% discount recorded a year ago. Discount rates varied, with Four Seasons at Terra Lago experiencing the lowest at 0.1%, and Trilogy at the higher end with a 4.6% discount. Navigating negotiations with these figures in mind can empower both buyers and sellers in the active adult real estate market.

In conclusion, the 55+ active adult real estate market is showcasing resilience and equilibrium. While adjustments are evident in sales and days on the market, the stability in prices, inventory, and negotiation dynamics suggests a market that is adapting to change while maintaining its fundamental balance. Stay tuned for future updates as we continue to monitor and analyze the evolving trends in the vibrant world of active adult real estate.

A big thank you to Walter Neil for generously allowing us to use these reports. If you're considering a move or looking to get approved for a loan, we highly recommend reaching out to Walter Neil at Franklin Loan Center for expert guidance and support in navigating your real estate journey.

Get ready to step into a holiday dream at Gingerbread Lane, an annual spectacle hosted by Old Town Artisan Studios on their sprawling 3-acre art campus located at 78046 Calle Barcelona, La Quinta. This festive transformation turns the entire space into a mesmerizing winter wonderland, complete with breathtaking displays, meticulously adorned garlands, and the grandeur of a 17-foot tree that stands tall beside the iconic Holiday Cottage.

Gingerbread Lane isn't just a feast for the eyes; it's a sensory journey into the heart of holiday cheer. Beyond the visual delights, the air is infused with the tempting aroma of freshly baked gingerbread cookies and the inviting fragrance of hot cider, creating an ambiance that feels like a warm holiday hug. The culinary area invites you to savor these seasonal treats, creating a sensory experience that immerses you in the festive spirit.

The enchantment extends to hands-on activities, making Gingerbread Lane a family-friendly affair. Engage in the joy of the season with cookie decorating and clay ornament painting in the dedicated craft section. These interactive experiences add a personal touch to your visit, creating memories that will linger long after the holiday season has passed.

Adding to the festive roster are scheduled performances that elevate the magic of Gingerbread Lane. From local talents to spirited holiday acts, the performances are designed to captivate audiences of all ages, adding an extra layer of joy to this already magical experience.

Best of all, the wonder of Gingerbread Lane is accessible to everyone at no cost. Old Town Artisan Studios opens its doors from 11 am to 5 pm, inviting you and your loved ones to revel in the holiday spirit without any entry fee.

As you bask in the enchantment of Gingerbread Lane, consider the allure of La Quinta and its vibrant community. If the idea of making this charming city your home intrigues you, explore the available listings on our website. Stay connected with valley events and market updates to make informed decisions about your potential move. Imagine living in a place where the magic of Gingerbread Lane can be part of your holiday festivities – a home that embodies the warmth and charm of the holiday season.

As we delve into the latest trends shaping the Coachella Valley real estate scene, November has proven to be an intriguing month for both detached and attached homes. Let's break down the numbers and gain insights into the market dynamics.

Detached homes in the Coachella Valley closed November with a median price of $635,000, marking a marginal monthly decline and a 1.6% year-over-year decrease. Despite this, there's optimism in the air as historical patterns suggest a potential seasonal upswing. However, caution is advised as increasing inventory and sluggish sales are gradually shifting the market dynamics, favoring potential homebuyers.

On the attached home front, a different narrative unfolds. With a median price of $457,000, attached homes experienced a robust 2.7% year-over-year increase. The accompanying chart vividly illustrates the more variable seasonal price range for attached homes compared to their detached counterparts. If historical trends persist, we may anticipate a steady rise in attached home prices as we approach the new year.

For a deeper dive into the nuances of these market shifts and to stay abreast of the latest real estate developments, we invite you to explore more detailed information by visiting our website. Our commitment is to provide you with the insights needed to make informed decisions in this ever-evolving real estate landscape. Whether you're a potential buyer, seller, or simply a curious observer, understanding these trends is key to navigating the Coachella Valley real estate market successfully. 

As the holiday season approaches, the excitement in the air is palpable, and there's no better way to embrace the festivespirit than by immersing yourself in the enchanting world of WildLights. From November 22 to December 30, on select nights from 6:00 pm to 9:00 pm, experience the magic of the 31st season at the WildLights event. Advanced reservations are required, ensuring an intimate and unforgettable experience.

This year, WildLights introduces several new and reimagined light exhibits, including a magnificent 30-foot-tall holiday tree and captivating animal-themed displays. The beloved classics are back too, with the Tunnel of Lights, smores station, holiday carousel, photos with Santa, and more. True to tradition, the G-scale model trains, adorned with over 3,300 feet of track, will be transformed into a holiday spectacle. 

Mark your calendars for a particularly special night: Adults Only (21+) Night on December 14, from 6:00 pm to 9:00 pm. This exclusive event promises a unique perspective on WildLights, with three million lights illuminating the zoo in a whole new light.

Adults Only Night will feature a Candy Cane Lane style party in Palm Garden, accompanied by a live broadcast from MIX 100.5. Indulge in a specially crafted one-night-only menu at Crash Cafe, and sip on themed cocktails and boozy hot chocolate throughout the park. The night will be set to the melodious tunes of Michael Keeth, the Coachella Valley's Best Vocalist of the year for five consecutive years, performing live in Village WaTuTu.

With limited space available, secure your tickets now for this exclusive one-night-only event before they sell out. It's an opportunity to enjoy the magic of WildLights in a more refined and adult-oriented atmosphere.

As you revel in the holiday festivities, consider the possibility of making this vibrant community your home. Those captivated by the allure of WildLights and the Coachella Valley can explore real estate opportunities in Palm Desert and its surrounding cities. Stay tuned with our real estate website for the latest listings and information about exciting events happening in the Coachella Valley. Illuminate your holidays, and perhaps, your future in this extraordinary region!

Looking for an unforgettable weekend experience? Look no further than the Desert Brew Fest at Cathedral City Community Amphitheatre today, December 10th, from 12pm to 6pm. This lively event promises a day filled with craft beer, live bands, lucha libre wrestling, food trucks, and even a visit from the one and only Santa Claus!

Craft beer enthusiasts, this is your paradise. Explore a diverse selection of brews from local and regional breweries, each offering a unique and flavorful experience for your taste buds. 

As you sip on your favorite brew, enjoy the energetic vibes of live bands setting the stage for an unforgettable day. Feel the adrenaline rush as lucha libre wrestlers showcase their skills, adding a touch of excitement to the festivities. And of course, don't miss the chance to grab some delicious bites from the fantastic array of food trucks on site.

Capture the essence of the season with a special appearance by Santa Claus, spreading joy and festive cheer. It's the perfect opportunity to snap some holiday photos and make cherished memories with friends and family.

For those who find themselves captivated by the unique charm of Cathedral City, consider the possibility of making this vibrant community your home. We invite you to explore listings on our website for information on available properties in Cathedral City and the surrounding cities. Whether you're drawn to the craft beer scene, the lively cultural events, or the overall warmth of the community, there's something for everyone in Cathedral City. Make this weekend extraordinary and discover the possibilities that await in this fantastic city!

Are you considering making the Coachella Valley your new home? Whether you're a first-time buyer or a seasoned investor, understanding the current real estate landscape is crucial. Here's a comprehensive overview of the market trends in November to help guide your decision-making process.

Pricing Trends: Finding the Sweet Spot

Detached Homes:

The median price for detached homes in the Coachella Valley closed November at $635,000, showing a month-over-month decrease and a 1.6% decline from the previous year. However, individual cities present a diverse picture, with La Quinta experiencing an 11.9% gain while Coachella saw a 12% decline.

Attached Homes:

On the other hand, the median price for attached homes rose to $457,000, marking a 2.7% year-over-year increase. Noteworthy is that six cities, including Indio, Rancho Mirage, and Palm Desert, reported year-over-year gains for their attached homes.

Sales Activity: Riding the Waves of Change

In November, the three-month average of home sales was 480 units per month, 20 units below the previous year. The recovery chart indicates a 30.6% decrease in sales compared to the seasonal averages of the past four months. Rancho Mirage stands out with a 23% increase in sales, while Indio and Cathedral City experienced declines of 23% and 12%, respectively.

Inventory & Market Dynamics: A Delicate Balance

By December 1st, the Valley's housing inventory reached 2,260 units, the highest since the onset of the pandemic. The "months of sales" ratio, a key indicator of supply and demand, was 3.8 months, one month higher than the previous year but considered normal. This suggests a balanced market, with neither buyers nor sellers having a significant advantage.

Days in the Market: Timing is Everything

As of November, the median number of "days on the market" in the Coachella Valley was 36 days, one day less than the previous month but one day more than last year. Notably, the city of Coachella boasts the lowest median selling time for detached homes at 25 days, followed closely by Desert Hot Springs at 31 days and Indian Wells at 32 days.

Price Discounts/Premiums: Finding the Right Deal

In November, 15.9% of sales closed above the list price, a slight decrease from the previous year's 17.5%. The expectation is that around 16% of homes will continue to sell at a premium. On average, every city reports a selling discount for detached homes, ranging from 0.9% in Coachella to 5.7% in Bermuda Dunes. Attached homes also exhibit discounts, varying from 0.4% in Bermuda Dunes to 3.4% in La Quinta.

Conclusion: Informed Decisions for a Dynamic Market

The Coachella Valley real estate market presents a dynamic landscape with varying trends across different cities and property types. As you navigate this market, understanding the nuances of pricing, sales activity, inventory levels, and timing will empower you to make informed decisions. Whether you're seeking your dream home or a lucrative investment, now is an opportune time to explore the diverse offerings in the Coachella Valley.

'Tis the season to be merry, and what better way to celebrate the holidays than in the warmth of Southern California's Indian Wells, where Winterfest is back for its second year, promising a spectacular holiday extravaganza. Nestled under the golden sun and swaying palm trees, Indian Wells Winterfest invites residents and visitors alike to create lasting memories in this picturesque desert oasis.

This year, Winterfest promises an unforgettable experience for the whole family. Lace-up your skates for a spin around the roller disco rink, where classic holiday tunes mingle with disco beats, creating a festive atmosphere that is uniquely Californian. For those seeking a cozy escape, the Igloo Bubble Bar offers the perfect spot to sip on a seasonal drink or engage in a friendly game, surrounded by the serene beauty of Indian Wells.

One of the highlights of Winterfest is the chance to step into a winter wonderland within a snow globe. These charming globes offer a private retreat for you and your loved ones to revel in the magic of the season, creating memories that will last a lifetime.

Fuel your festive spirit with a visit to the Holiday Cookie and Candy Truck, where the aroma of hot chocolate fills the air. Indulge your sweet tooth while taking in the vibrant sights and sounds of Winterfest. Don't forget to capture the moment with a photo alongside Santa, who will be spreading cheer throughout the event.

As the sun sets, immerse yourself in the enchanting world of holiday-themed Shots in the Night. Featuring beloved films, heartwarming music, and delectable snacks and drinks, this experience will leave you feeling the true magic of the season.

Indian Wells Winterfest runs from December 1st to January 1st, with various events and activities happening throughout the month. For detailed information on locations and timings, visit Greater Palm Springs.

For those considering making Indian Wells their home, this festive celebration provides a glimpse into the vibrant community spirit of the area. Explore the possibility of calling Indian Wells or other surrounding cities your home, and discover more about available properties on our website at teamwasserman.net. Embrace the warmth, charm, and festivities of Indian Wells Winterfest – your new holiday tradition awaits!

If you're contemplating selling your home in the Coachella Valley, it's crucial to stay informed about the dynamic real estate market. As we close the chapter on November, let's delve into the latest Desert Housing Report brought to us by the California Desert Association of Realtors (CDAR) and the Greater Palm Springs Realtors (GPSR).

1. Pricing Trends:

- The median price for detached homes in the Coachella Valley concluded November at $635,000, witnessing a monthly decrease and a 1.6% dip compared to the previous year.

- Attached homes, on the other hand, saw a positive shift, with the median price rising to $457,000, marking a 2.7% increase year over year.

- Price fluctuations in detached homes vary widely, with La Quinta experiencing an impressive 11.9% gain, while the city of Coachella saw a decline of 12%. Attached homes in six cities, including Indio, Rancho Mirage, Indian Wells, Bermuda Dunes, Palm Desert, and Cathedral City, have all shown year-over-year gains.

2. Sales Insights:

- November's three-month average for sales stands at 480 units per month, a decrease of 20 units compared to the previous year.

- The recovery chart, comparing current sales against seasonal averages, reveals a 30.6% decline over the last four months compared to the norm.

- Rancho Mirage stands out with a 23% increase in sales, while Indio and Cathedral City experience the largest declines at 23% and 12%, respectively.

3. Inventory & “Months of Sales” Ratios:

- November saw a notable increase of 150 units in Valley inventory, reaching 2,260 units by December 1st – the highest since the onset of the pandemic in 2020.

- The Valley's "months of sales" ratio is at 3.8 months, a one-month increase from the previous year, indicating a return to normal levels of supply and demand.

4. Days in the Market (DIM):

- The median "days in the market" for the Coachella Valley was 36 days at the close of November, just one day less than the previous month but one day more than the previous year.

- Coachella, Desert Hot Springs, and Indian Wells boast the shortest selling times for detached homes at 25, 31, and 32 days, respectively. In the attached market, Indio leads with an average selling time of 26 days.

5. Price Discounts/Premiums:

- In November, 15.9% of sales closed above the list price, a slight decrease from 17.5% the previous year.

- Anticipating around 16% of homes to sell at a premium (one out of every six sales), each city maintains an average selling discount for detached homes, ranging from 0.9% in Coachella to 5.7% in Bermuda Dunes. Attached homes see discounts from 0.4% in Bermuda Dunes to 3.4% in La Quinta.

In this ever-changing real estate landscape, staying informed is key to making the right decisions for your home. For more in-depth information on the Coachella Valley housing market take a look at the entire Desert Housing Report. And to explore the current value of your home, visit our website. Empower yourself with knowledge as you embark on this exciting journey in the vibrant Coachella Valley real estate market.

Indio, California, comes alive as the sun sets, transforming the Empire Polo Club into a mesmerizing display of lights from November 17th to December 31st, 2023. The Magic of Lights event, open from 5:30 pm to 9:00 pm (Sunday to Thursday) and until 10:00 pm on Fridays and Saturdays, offers a holiday experience for families and friends with a display that transforms the Coachella Valley into a radiant wonderland. 

Picture yourself strolling through the radiant pathways, soaking in the ambiance created by millions of twinkling lights. It's an experience that not only warms the heart but also offers a chance to appreciate the diverse neighborhoods that make up the Coachella Valley. 

Embrace the seasonal cheer, enjoy the captivating lights, and let this event spark not only holiday spirit but also your imagination about the diverse possibilities within the Coachella Valley. Whether you're considering a serene desert retreat or exploring investment opportunities, the Magic of Lights provides a delightful backdrop for contemplating the potential that awaits in this vibrant community..

For those interested in delving into the local real estate market, our website becomes an indispensable resource. Navigate through our curated collection of property listings, gaining valuable insights into the diverse neighborhoods that make up the Coachella Valley. Additionally, stay informed about upcoming events, including the Magic of Lights at the Empire Polo Club.

On December 3rd, Indian Wells - La Quinta will come alive as athletes and enthusiasts unite for the Trainual Ironman 70.3—a thrilling test of physical and mental fortitude amid the scenic wonders of the Coachella Valley. The course, a breathtaking journey through La Quinta and Indian Wells, begins with a 1.2-mile swim in Lake Cahuilla—a testament to the harmonious relationship between nature and human determination.

From the swim, participants transition to a challenging 56-mile bike course, navigating the heart of these vibrant communities with flat stretches and challenging climbs. The course, showcasing the region's unique beauty, promises to test even the most seasoned triathletes. The final leg, a 13.1-mile run, weaves through the iconic Indian Wells Tennis Garden, creating a palpable sense of accomplishment against the backdrop of palm-lined streets and the desert's warm embrace.

The Trainual Ironman 70.3 is more than a race; it's a celebration of the human spirit's ability to overcome challenges. Whether a seasoned triathlete or a spectator, the event promises a day of inspiration and awe, showcasing the power of discipline and unwavering resolve. As the sun sets on December 3rd, this Ironman will leave an indelible mark on the endurance sports landscape, emphasizing that the journey is as crucial as the destination.

For those considering a move to this vibrant desert oasis or eager to explore the community spirit of Indian Wells- La Quinta, the event serves as a window into the heart and soul of the region. Join us in witnessing the triumph of the human spirit amidst stunning landscapes. Immerse yourself in the festivities and explore our website for listings, offering a glimpse into the incredible lifestyle awaiting those who make this enchanting place their home. The Trainual Ironman 70.3 is not just an event; it's an invitation to embrace a life where every day is a celebration of strength, perseverance, and the beauty that surrounds us.