Wasserman Real Estate Group Blog

As the summer heats up, so does the real estate market for 55+ active adult communities. Our latest report delves into key market indicators, providing valuable insights into prices, sales, inventory, days on the market, and price discounts or premiums. We would like to extend a special thank you to Walter Neil at Franklin Loan Center for allowing us to use this comprehensive report. Walter is always available to assist with loan needs, ensuring your real estate transactions are smooth and successful.

Prices

The FLC Active Adult Price Index, which tracks the average price of a 1,900 square foot home across eight active adult communities, ended June at $596,324. This marks a 3.8% increase year over year. Individual community performance varied, with Del Webb Rancho Mirage seeing the highest gain of 9.6%, while Four Seasons at Terra Lago experienced a decrease of 5.4%.

Sales

June saw an average of 65 units sold per month across all eight communities, which is an increase of three units compared to last year. However, the dollar sales averaged $49 million per month over the past three months, which is $2 million less than the same period last year.

Inventory

The inventory of active adult community listings increased significantly, with 185 units available at the end of June compared to 131 units last year, reflecting a 41.2% rise. The "months of sales" ratio also saw an increase, standing at 2.8 months in June compared to 2.1 months last year. This higher ratio suggests a balanced market, which should help maintain price stability.

Days on the Market

Homes in these communities spent an average of 63 days on the market in June, down from 67 days a year ago. Selling times varied, with Trilogy Polo Club homes selling the fastest at 48 days, and Four Seasons at Terra Lago taking the longest at 84 days.

Price Discount/Premium

In June, homes in the eight active adult communities sold at an average discount of 2.0%, which is a slight improvement from last year's 2.2%. Discounts ranged from 0.9% in Four Seasons at Terra Lago to 3.1% in Trilogy.

If you're interested in exploring more about these communities or are considering buying or selling a home, visit our website to view available listings and stay updated on market conditions. We are here to support you in all your real estate needs.

As we delve into the real estate market performance in PGA West for June, we observe a blend of stability and minor fluctuations across various metrics. Here’s a comprehensive overview of the latest trends in prices, sales, inventory, days on market, and price discounts/premiums.

Prices

In PGA West, the pricing landscape is experiencing a mild correction. The average price of a detached home, approximately 3,150 sq. ft., concluded June at $1,479,844, reflecting a slight year-over-year decrease of 0.5%. Conversely, the average price of an attached home, around 1,950 sq. ft., increased by 0.2%, reaching $725,917. 

Subdivision Performance

The individual subdivisions within PGA West showed varying price changes. Greg Norman (Detached) saw the highest average price gain at +18.9%, while Nicklaus Tournament (Attached) experienced the most significant decline at -8.9%.

Sales

June saw an average of 12 sales per month, which is one unit less than the previous year, marking a 7.7% decrease. However, the average monthly dollar sales surged to $20 million, a notable 25% increase compared to last year.

Inventory

At the end of June, the inventory across the eight PGA West subdivisions stood at 34 units, 3% fewer than last June. The “months of sales” ratio was 2.8 months, consistent with the previous year. Historically, this ratio for PGA West ranges from four to six months, indicating the current ratio is within the lower-center of the normal range.

Days on Market

For detached homes, the average number of days on the market in June was 60 days, up from 55 days last year. Attached homes saw an increase to 61 days from 48 days a year ago. Despite these increases, both metrics remain significantly below their pre-COVID averages.

Price Discount/Premium

Detached homes in PGA West sold with an average discount of 3.5%, marginally down from last year’s 3.6%. Attached homes sold at an average discount of 2.9%, up from a 2.2% discount last year.

We extend our heartfelt gratitude to Walter Neil at Franklin Loan Center for providing these insightful market reports. Walter's expertise in the real estate market is invaluable, and his assistance is instrumental in helping us deliver accurate and up-to-date information.

If you need a loan, Walter Neil at Franklin Loan Center is the go-to professional. His extensive knowledge and experience can help you navigate the complexities of securing a loan, ensuring you get the best possible terms for your real estate needs.

For the full report and to explore available listings in the PGA West communities, visit our website. Stay updated on market conditions and let us assist you in finding your perfect home or investment property in this prestigious area.

As we move through the summer months, it's essential to stay informed about the latest trends in the luxury real estate market. The June report from the FLC Luxury Price Index provides valuable insights into the current state of the market across fifteen top luxury country clubs. Here’s a comprehensive summary of the key findings:

• Andalusia at CM
• Andreas Hills
• Bighorn Golf Club
• El Dorado Country Club
• Indian Canyons
• Movie Colony
• Old Las Palmas
• Tamarisk Country Club
• The Hideaway
• The Madison
• The Reserve
• Thunderbird Heights
• Toscana Country Club
• Tradition Golf Club
• Vintage Country Club

Prices

The FLC Luxury Price Index, representing the average price of a 4,500 square foot home in the top fifteen luxury country clubs, concluded June at $3,853,775. This marks a 5.2% increase year over year. When examining individual country clubs, the average gains varied significantly, with El Dorado Country Club experiencing a remarkable 40.3% increase, while Tamarisk Country Club saw a decrease of 16.8%.

Sales

June witnessed an average of 17.3 luxury sales per month, a 6.1% rise compared to last year. However, the dollar sales of luxury homes over the last three months averaged $80 million a month, reflecting a 36.5% decrease from the previous year.

Inventory

The total inventory in the fifteen luxury country clubs at the end of June stood at 86 units, which is 36.5% higher than the previous year. The “months of sales” ratio was recorded at 5.0 months, compared to 3.8 months last year, indicating a slower market pace.

Days on the Market

In June, the average “Days on the Market” for luxury homes was 69, consistent with last year’s figure. This duration remains significantly lower than the pre-pandemic average of 120 days. By country club, the selling times ranged from a swift four days at El Dorado Country Club to 156 days at Vintage Country Club.

Price Discount/Premium

Luxury homes in June sold at an average discount of 4.2%, slightly higher than the 3.7% discount from the previous year. The discounts varied widely, from a minimal .9% at El Dorado Country Club to a significant 10% at The Madison.

We would like to extend our sincere gratitude to Walter Neil at Franklin Loan Center for allowing us to use these insightful reports. Walter Neil is an invaluable resource for loan needs, offering expert assistance to ensure smooth and successful transactions.

To stay updated on market conditions and to view the full report, visit our website. Additionally, you can explore available luxury listings and utilize our home valuation tool to make informed decisions in today’s dynamic market.

Whether you're looking to buy or sell in one of these prestigious country clubs, we're here to assist you every step of the way. Contact us today to take advantage of our expertise and resources.

La Quinta, known as the "Gem of the Desert," is a vibrant city in the Coachella Valley of Southern California. This picturesque town offers a unique blend of natural beauty, luxurious living, and a welcoming community. Whether you're looking to enjoy the scenic desert landscapes, engage in outdoor activities, or simply relax in a serene environment, La Quinta has something for everyone.

Why Choose La Quinta?

1. Natural Beauty:

La Quinta is surrounded by stunning mountains, offering breathtaking views and numerous outdoor recreational activities. The Santa Rosa and San Jacinto Mountains provide excellent hiking and biking trails for all levels.

2. World-Class Golf:

Golf enthusiasts will find paradise in La Quinta. The city is home to numerous championship golf courses, including the famous PGA West, where you can play on courses designed by legends like Jack Nicklaus and Greg Norman.

3. Luxury Living:

La Quinta boasts a range of luxurious homes and gated communities, providing a high standard of living. Whether you're looking for a modern home with all the amenities or a charming desert retreat, you'll find it here.

4. Arts and Culture:

The city has a thriving arts scene, with numerous galleries, cultural events, and festivals. The La Quinta Arts Festival is one of the top-rated fine art festivals in the nation, attracting artists and visitors from all over.

5. Excellent Schools:

Families with children will appreciate the excellent education options available in La Quinta. The city is served by the Desert Sands Unified School District, known for its high-quality schools and educational programs.

6. Dining and Shopping:

La Quinta offers a diverse range of dining options, from casual eateries to fine dining restaurants. The Old Town La Quinta shopping area provides a charming setting for boutique shopping and delightful culinary experiences.

Tips for Moving to La Quinta

1. Understand the Climate:

La Quinta experiences a desert climate with hot summers and mild winters. It's essential to be prepared for the heat, especially if you're moving from a cooler climate. Make sure your new home has adequate cooling systems and plan outdoor activities for the cooler parts of the day.

2. Choose the Right Neighborhood:

La Quinta offers a variety of neighborhoods, each with its own unique charm. Whether you prefer a quiet, family-friendly community or a more active, social environment, there’s a neighborhood that suits your lifestyle. Research and visit different areas to find the perfect fit.

3. Get Involved in the Community:

La Quinta has a strong sense of community with numerous events, clubs, and activities to get involved in. Joining local organizations and attending community events is a great way to meet new people and feel at home.

4. Explore Outdoor Activities:

Take advantage of the beautiful surroundings by exploring outdoor activities. Whether it's hiking, golfing, or simply enjoying a picnic in one of the many parks, there are endless opportunities to enjoy the natural beauty of La Quinta.

5. Plan for Utilities and Services:

Ensure a smooth transition by setting up utilities and services before your move. Contact local providers for electricity, water, internet, and other essential services to avoid any disruptions.

We're Here to Help

Moving to a new city can be both exciting and overwhelming. Whether you're looking to buy or sell in La Quinta or other nearby cities, we're here to assist you every step of the way. Our team of experienced real estate professionals is dedicated to helping you find your dream home or achieve your selling goals.

Visit our website to view available listings and get in touch with us for personalized assistance. We look forward to welcoming you to the beautiful city of La Quinta!

Are you considering buying a home in the Coachella Valley? Staying updated on the local real estate market can help you make an informed decision. Here's the latest market information to guide your home buying journey.

Prices

Great news for buyers! The median price of a detached home in the Coachella Valley has recently adjusted to $695,000, following an all-time high two months ago. This reflects a modest year-over-year increase of just 0.7%. For attached homes, the median price remained steady at $475,000, unchanged from last year. Year-over-year price changes vary significantly across the Valley, with Coachella seeing a 19.6% gain and Bermuda Dunes experiencing an 11.5% decline. For attached homes, Bermuda Dunes saw a 19.4% increase, while Desert Hot Springs had a 7.0% decrease.

Sales

Sales activity is slightly lower than last year, providing a less competitive market for buyers. The three-month sales average is down by 59 units, with 739 units sold per month in June compared to 798 units a year ago. Palm Desert leads with the highest monthly sales at 163 units, followed by Palm Springs at 151 units. The 12-month average of sales, which smooths out seasonal variations, stands at 617 units per month, consistent with last year’s figures.

Inventory & “Months of Sales” Ratios

The current inventory of 2,464 units means there are plenty of options to choose from. Inventory is expected to decline as we move into the summer months, so now is a great time to explore your options. The “months of sales” ratio on July 1st was 4.0 months, up by 1.1 months from last year, indicating a balanced market. Ratios across ten cities range between 2.5 and 4.0 months.

Days in Market (DIM)

The median number of days a property stays on the market in the Coachella Valley was 45 days at the end of June, unchanged from the previous month but up by seven days compared to last year. Coachella continues to have the lowest average selling time at 18 days, followed by Cathedral City at 30 days and Desert Hot Springs at 43 days. On the higher end, La Quinta has the longest average selling time at 53 days.

Price Discounts/Premiums

In June, detached homes sold at an average discount of 2.0%, while attached homes sold at a 2.6% discount. Coachella is the only city where homes are selling at an average premium of 0.1%, whereas Bermuda Dunes has the largest discounts.

Explore Your Home Buying Options

Ready to make your move? Now is an excellent time to buy a home in the Coachella Valley. Visit our website to view the full market report and explore available listings. Our comprehensive market analysis and property listings can help you find your dream home at the best price.

today for personalized assistance and to start your home buying journey in the beautiful Coachella Valley.

As a homeowner in the Coachella Valley, staying informed about the local real estate market is crucial. Whether you're considering selling your home or simply want to understand the market dynamics, we've got the latest insights for you.

Prices

The median price of a detached home in the Coachella Valley, after reaching an all-time high two months ago, declined in June to $695,000. This represents a modest year-over-year increase of just 0.7%. For attached homes, the median price remained steady at $475,000, unchanged from last year. Year-over-year price changes vary significantly across the Valley, ranging from a 19.6% gain in Coachella to an 11.5% decline in Bermuda Dunes. Similarly, gains for average-sized attached homes vary from a 19.4% increase in Bermuda Dunes to a 7.0% decrease in Desert Hot Springs.

Sales

Sales activity has seen a slight decrease compared to last year. The three-month sales average is down by 59 units, with 739 units sold per month in June compared to 798 units a year ago. Palm Desert leads with the highest monthly sales at 163 units, followed by Palm Springs at 151 units. The 12-month average of sales, which smooths out seasonal variations, stands at 617 units per month, consistent with last year’s figures.

Inventory & “Months of Sales” Ratios

On July 1st, the Valley's inventory stood at 2,464 units, down by 146 units from the previous month. As we move into the summer months, inventory is expected to continue declining. The “months of sales” ratio on July 1st was 4.0 months, up by 1.1 months from last year, indicating a balanced market. Ratios across ten cities range between 2.5 and 4.0 months.

Days in Market (DIM)

The median number of days a property stays on the market in the Coachella Valley was 45 days at the end of June, unchanged from the previous month but up by seven days compared to last year. Coachella continues to have the lowest average selling time at 18 days, followed by Cathedral City at 30 days and Desert Hot Springs at 43 days. On the higher end, La Quinta has the longest average selling time at 53 days.

Price Discounts/Premiums

In June, detached homes sold at an average discount of 2.0%, while attached homes sold at a 2.6% discount. Coachella is the only city where homes are selling at an average premium of 0.1%, whereas Bermuda Dunes has the largest discounts.

Stay Informed and Get Your Home Valuation

To dive deeper into these market trends and understand how they affect your property's value, visit our website to view the full report. While you're there, use our home valuation tool to see what your home is worth in today's market. Our comprehensive market analysis can help you make informed decisions and maximize your investment.

Ready to sell? Contact us today for expert guidance and personalized service tailored to your real estate needs.

Looking for an unforgettable way to celebrate the 4th of July? Look no further! Palm Springs is hosting a fantastic event that promises fun and excitement for the whole family. Mark your calendars and get ready for a day filled with activities, entertainment, and a stunning fireworks display over the pool!

Event Highlights

Pool Party

Beat the summer heat by taking a dip in the pool! Whether you want to swim, splash, or simply relax poolside, this is the perfect way to cool off and enjoy the festivities.

All-Star’s Collegiate Power Baseball

Catch the thrilling action of collegiate power baseball! Watch some of the best young athletes showcase their skills in an all-star game that's sure to keep you on the edge of your seat.

Concert in the Park

Enjoy live music performances in the scenic setting of Sunrise Park. Bring your blankets and lawn chairs, and groove to the tunes of talented musicians while soaking in the festive atmosphere.

Family-Friendly Fun

This event is packed with family-friendly activities. From music and games to large inflatable slides, there’s something for everyone. Kids will love the interactive games and attractions, making it a memorable day for the whole family.

Fireworks Finale

The highlight of the evening is the spectacular fireworks display set to light up the sky at 9:15 PM. Experience the magic as the fireworks burst over the pool, creating a mesmerizing reflection and an unforgettable visual spectacle.

Event Details

Location: Sunrise Park, Palm Springs  

Date: July 4th  

Time: 3:00 PM - 10:00 PM (Fireworks at 9:15 PM)

For more information, visit the event page

Explore Palm Springs

While you're in town for the 4th of July celebration, why not explore more of what Palm Springs has to offer? Our vibrant community is home to a variety of attractions, beautiful homes, and welcoming neighborhoods. If you're considering making Palm Springs your second home or simply want to discover more about the local real estate market, visit our website for the latest listings and market insights. Reach out to us today, and let us guide you through the process of finding your dream home!

Celebrate Independence Day with at Sunrise Park, and create lasting memories with family and friends. We look forward to seeing you there!

Palm Desert continues to be a sought-after destination for homebuyers and investors alike, offering a unique blend of luxury living and serene desert landscapes. Lets delve into the latest market trends, focusing on the average property sale price compared to the final list price and the average sale price to the original list price. Understanding these metrics will help you navigate the Palm Desert real estate market more effectively.

Market Dynamics Favoring Sellers: Sale Price vs. Final List Price

The average sale price compared to the final list price, after all price reductions, stood at an impressive 97.1% in June. This figure is up 1.5% from May 2023, indicating a market that strongly favors sellers. When this percentage is high, it suggests that homes are selling close to their final listed prices, demonstrating strong demand and limited room for negotiation by buyers. In Palm Desert, this trend reflects the area's desirability and competitive market conditions.

Evaluating Pricing Strategies: Sale Price vs. Original List Price

Conversely, the average sale price compared to the original list price, before any price reductions, was 93.4% in June, down 0.5% from May 2023. This decrease suggests that agents might be initially setting prices slightly higher than what buyers are willing to pay, necessitating eventual price reductions. Lower values in this metric indicate buyers' reluctance to meet higher initial asking prices, emphasizing the importance of strategic pricing from the outset.

Interested in exploring available properties in Palm Desert? Our website offers a comprehensive and user-friendly platform to browse listings tailored to your preferences. Whether you're searching for a luxurious villa, a family home, or an investment property, you'll find a wide range of options to suit your needs. Curious about your home's value in the current market? Utilize our home valuation tool to get an accurate and instant estimate, helping you understand your property's worth and providing a solid foundation for making informed decisions.

Staying informed about market trends is crucial for making savvy real estate decisions, visit our website regularly to access the latest market reports, insights, and updates. We look forward to helping you achieve your real estate goals!

Summer in Palm Springs means one thing: it's time to head to the ballpark and experience the excitement of Palm Springs Power Baseball! This local treasure offers thrilling baseball action, delicious ballpark food, and engaging promotions that guarantee a fantastic time for all ages. With games on Tuesdays, Wednesdays, Fridays, and Saturdays at 7 PM throughout June and July, Palm Springs Stadium is the place to be for an unforgettable evening.

Unmatched Baseball Action

Palm Springs Power Baseball is known for its high-energy games, showcasing top talent and providing fans with edge-of-their-seat entertainment. Whether you're a die-hard baseball enthusiast or just looking for a fun night out, the dynamic play on the field is sure to captivate you. The team’s dedication to excellence and sportsmanship makes every game a must-see event.

Delicious Ballpark Food

No baseball experience is complete without indulging in classic ballpark fare. From hot dogs and burgers to nachos and ice-cold drinks, Palm Springs Stadium offers a variety of delicious options to satisfy your cravings. The aroma of freshly prepared snacks fills the air, making it impossible to resist grabbing a bite while cheering on your favorite team.

Engaging Promotions and Activities

Palm Springs Power Baseball goes beyond the game with engaging promotions and activities that add to the fun. Fans can look forward to in-game activities and exciting giveaways that keep the energy high and the crowd entertained. These promotions ensure that there’s never a dull moment, making each game a unique and memorable experience.

Special 4th of July Fireworks Show

Mark your calendars for a spectacular Independence Day celebration with Palm Springs Power Baseball. While there’s no game on July 3rd, the festivities on July 4th will more than make up for it. After enjoying the action-packed game, stick around for a stunning fireworks show that will light up the night sky and provide the perfect ending to a patriotic evening. It's a celebration you won’t want to miss!

Plan Your Visit

Ready to join the fun? Head to Palm Springs Stadium for an incredible summer of baseball. For more information and to purchase tickets, visit palmspringspowerbaseball.com. With games scheduled at 7 PM on Tuesdays, Wednesdays, Fridays, and Saturdays in June and July, there are plenty of opportunities to catch the excitement.

Explore More with Us

After enjoying a fantastic game, why not explore more of what Palm Springs has to offer? Visit our website to find listings of beautiful homes in the area. Whether you're considering making Palm Springs your new home or just looking for a vacation property, we're here to help you find the perfect place. Check out our listings today and start your journey towards owning a piece of this vibrant community.

Don't miss out on the summer fun with Palm Springs Power Baseball and other events taking place this summer. Stay up to date on local events by visiting our website!

Palm Valley Country Club is a premier destination for those seeking a luxurious lifestyle in the heart of Palm Desert. Known for its exceptional amenities, stunning landscapes, and vibrant community, Palm Valley offers a perfect blend of relaxation and recreation.

Unparalleled Amenities

Palm Valley Country Club boasts two meticulously maintained 18-hole golf courses designed by renowned architect Ted Robinson. Whether you're a seasoned golfer or a beginner, you'll appreciate the challenging yet enjoyable experience these courses provide. The club also features a full-service golf shop, professional instruction, and practice facilities to help you perfect your game.

In addition to golf, Palm Valley offers a range of other amenities, including:

- Tennis & Pickleball: With 16 tennis courts and 4 pickleball courts, members can enjoy a friendly match or participate in competitive tournaments.

- Fitness Center: Equipped with state-of-the-art equipment, group classes, and personal training services, the fitness center caters to all your wellness needs.

- Spa & Wellness: Relax and rejuvenate with a variety of spa services, from massages to facials, in a tranquil setting.

- Dining: Savor delicious meals at the club's several dining venues, offering everything from casual fare to gourmet cuisine.

- Social Events: Engage with fellow members through a calendar full of social events, including themed parties, holiday celebrations, and more.

Vibrant Community

Palm Valley Country Club is more than just a place to play golf or work out; it's a vibrant community where friendships are forged, and memories are made. The club fosters a welcoming environment for individuals and families alike, making it easy to build lasting connections.

Real Estate Opportunities

Living in Palm Valley means having access to a range of beautiful homes that cater to various tastes and preferences. Whether you're looking for a cozy condo or a spacious single-family home, you'll find an array of options within the club's gated community.

Membership Information

Interested in becoming a member of Palm Valley Country Club? Their website provides comprehensive information on membership options, including details on initiation fees, monthly dues, and the various membership categories available. To learn more, visit the Palm Valley Country Club Membership Page.

Explore More on Our Website

For those considering making Palm Valley their home, our website offers a wealth of information on available listings within this prestigious community. We invite you to explore our site to discover current real estate opportunities and to contact us with any questions.

At Palm Valley Country Club, you'll find a lifestyle that's second to none. Whether you're drawn by the world-class amenities, the beautiful surroundings, or the sense of community, Palm Valley is the perfect place to call home. Visit our website today to start your journey toward luxurious desert living.