2nd Quarter 2023 REAL ESTATE UPDATE 760.776.7070 DIANEWILLIAMSANDASSOCIATES.COM DRE# 01991637 | 01325548
DW & Associates (AKA Diane Williams & Associates) serves as your community expert and lifestyle liaison providing exceptional service to homeowners, members, and potential buyers in Indian Ridge. As the exclusive on-site real estate sales office at Indian Ridge Country Club, DW & Associates are uniquely positioned to provide unparallel expertise and customer service. Located in the main clubhouse, we work closely with membership to ensure your experience is both smooth and enjoyable. We are available 7 days a week and can show homes or provide a club tour with a moment’s notice. We are proud to be one of the top two real estate teams in the Greater Palm Springs Area with over 1,200 transactions representing buyers and sellers for a sales volume of approximately $987,000,000. In Indian Ridge alone, we represented 804 buyers and sellers since 2004 with over $723,000,000 in sales volume making our team the top agents in Indian Ridge.
Allison
Diane
Katie Career Sales $632M 26 2023 Total Transactions DIANEWILLIAMSANDASSOCIATES.COM DRE# 01991637 | 01325548 2023 Closed Volume $37M Career Sales $987M 44 2023 Total Transactions 2023 Closed Volume $47M 2023 MLS Team Ranking 2nd Indian Ridge Ranking 1st INDIAN RIDGE SALES FOR 2023 VALLEY WIDE SALES FOR 2023
Frank Laura Kristeen
Terrie Barry Heather
All information gathered from the California Desert Association of REALTORS® FlexMLS is deemed reliable but not guaranteed.
WHAT OUR CLIENTS SAY
I am so grateful for the help and advice I received from Terrie Pena. She assisted me for over a year with the sale of my home and finding the perfect home for me. She answered questions daily and went out of her way on many occasions to assist with all the questions I had moved from a different county. She’s is very pleasant to work with, is honest and does what she says she will do. I’ve owned quite a few houses and she is by far the best agent I’ve ever worked with. I’m very happy with the service I received.
– Jane Clark
Words can’t express how grateful we are for all your help and support during this (somewhat challenging) time! I know our mom and dad are smiling down - knowing someone else will enjoy their home as much as they did. Thanks again!
– Pam
Our experience with DW & Associates, and particularly with our realtor, Heather Wong, could not have been better!!! Heather is the most professional and delightful realtor we’ve ever worked with. Responsive, patient, sought to understand our needs & taste, proactive, informative, precise, not pushy/no pressure and above all always friendly.
– Ronald Brown
Hello, we hope this letter finds you in good health and high spirits. The official arrival of higher temperatures is now upon us, however, as we continue into summer, we consider ourselves fortunate to have experienced a remarkably mild June.
The Coachella Valley real estate market has shown minor changes since the end of last quarter. Low inventory levels persist, which would tend to favor sellers. However, buyers are showing much higher degrees of price sensitivity in their negotiations, leading to a more balanced dynamic between the parties and minimal fluctuations in prices.
According to the Desert Housing Report, published by the California Association of Realtors, the median price of a detached home is down 1.4% year over year, a small decline as prices continue to hold in this category over the last 5 months. The median price of an attached home is down 3% from last June, the first decline we have seen in 4 months. Low inventory continues to be the driving factor of price stability. On July 1st, there were 1,741 active listings on the MLS. Inventory has remained unchanged for the last 8 months with very little fluctuation. As we move through summer, we typically see an increase in new listings creating more options for buyers.
In the second quarter of 2023, Indian Ridge sold a total of 21 homes. This number resembles the pre-pandemic numbers from the same quarter, indicating a more balanced market. The number of homes sold is relatively close to the 25 homes sold during the corresponding period in 2022. Among the 21 homes sold, 8 were part of the HOA, while 13 were in the PUD. Notably, there was a 12% decrease in the price per square foot for HOA properties, now standing at $430, and a 13.7% decrease for PUD properties, with an average at $508 per square foot. A significant 62% of homes sold during the second quarter closed at prices exceeding $1 million. Although the average days on market continues to rise, homes that are appropriately priced and updated tend to sell quickly. Currently, there are 18 active homes on the market,
DEAR INDIAN RIDGE RESIDENTS,
with 4 in escrow, indicating ongoing activity in the Indian Ridge real estate market.
Last year at this time we started to see a market pause due to concerns over inflation and high interest rates. This pause lasted for several months, and our season didn’t really get started until late January 2023. While we all hope the pause will not be repeated, the upcoming quarter will shed light on how the current market conditions will shape the Coachella Valley real estate landscape. It is believed by the end of the year, the inflation rate will fall below 3% and mortgage rates to return to 5.5%. If this happens, we should see a swift return to a normal market, one similar to pre-pandemic.
We have great confidence in the remaining months of the year, as we anticipate a steady flow of home sales. The On-Site Sales office has achieved remarkable results in the first half of this year, surpassing the number of buyers and sellers represented by a notable 50% over our closest Indian Ridge competitor.
Our team is diligently working to maintain a strong presence within the community by attracting prospective buyers through various channels, while preserving the unique essence that sets Indian Ridge apart. The community is abuzz with excitement, drawing the attention of agents and their clients from outside the valley. This increased exposure can only bring about favorable developments and opportunities for all involved.
We are thankful for all the continued support from the community and members. We have an open-door policy, if you would like to see what we do to set us apart, please come by and say hello. We are always happy to meet and discuss the market with you.
Warmest Regards,
Heather Wong, Realtor®/Co-Owner
team has a deep understanding of Indian Ridge’s housing market. We are happy to provide you with a realistic market analysis of your home
INDIAN RIDGE COUNTRY CLUB SALES
JANUARY 1, 2023 TO JUNE 30, 2023
YELLOW highlighted homes indicate DW & Associates Represented Buyer or Seller
BLUE highlighted homes indicate DW & Associates represented BOTH Buyer and Seller
All information gathered from the California Desert Association of REALTORS® FlexMLS is deemed reliable but not guaranteed.
26 TOTAL TRANSACTIONS IN IRCC
14
HOMES SOLD BY DW & ASSOCIATES REPRESENTING SELLER
12
HOMES SOLD BY DW & ASSOCIATES REPRESENTING BUYER
2023
2023
INDIAN RIDGE QUARTERLY HOMES SALES ACTIVITY
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 $12,642,000 18 $300 53 $9,719,000 8 $462 37 $10,667,000 10 $447 61 $23,941,400 28 $341 33 $16,605,000 14 $489 32 $8,354,000 8 $430 102 $10,147,000 11 $389 33 $5,275,000 4 $595 42 -- - -$13,603,500 13 $431 30 $3,670,000 3 $495 38 - -$24,598,792 21 $365 56 $13,000,000 8 $542 51 $9,525,000 6 $542 69 $19,077,500 15 $373 76 $19,865,000 11 $589 30 $19,041,000 13 $508 87 $10,568,000 8 $441 42 $11,870,000 6 $616 60 -- - -$15,735,000 11 $448 47 $10,689,000 6 $581 20 - -TOTAL SALES VOLUME UNITS SOLD AVG. PRICE PER SF AVG. DOM 2021 2022 2023
HOA PUD
$819,831 $1,215,346 $1,056,722 HOA AVERAGE SALES PRICE HOA AVERAGE SALES PRICE HOA AVERAGE SALES PRICE $1,232,824 $1,789,400 $1,503,473 PUD AVERAGE SALES PRICE PUD AVERAGE SALES PRICE PUD AVERAGE SALES PRICE 43 25 21 TOTAL UNITS SOLD TOTAL UNITS SOLD TOTAL UNITS SOLD $43,018,500 $36,470,000 $27,395,000 TOTAL SALES VOLUME TOTAL SALES VOLUME TOTAL SALES VOLUME 2021 2022 2023
2ND QUARTER COMPARISON
SALES UPDATE BY CITY
Information compiled from the California Desert Association of REALTORS® FlexMLS. All information is deemed reliable but not guaranteed due to the new system. 2022 2ND QTR SALES 2023 2ND QTR SALES % CHANGE QTR SALES COACHELLA VALLEY 2,803 2,333 -16.8% BERMUDA DUNES 50 29 -42.0% INDIAN WELLS 111 87 -21.6% INDIO CENTRAL 89 47 -47.2% LA QUINTA NORTH 51 47 -47.2% LA QUINTA SOUTH 339 345 1.8% PALM DESERT EAST 219 179 -18.3% PALM DESERT NORTH 137 130 -5.1% PALM DESERT SOUTH 163 130 -20.2% PALM SPRINGS CENTRAL 159 135 -15.1% PALM SPRINGS NORTH 155 122 -21.3% PALM SPRINGS SOUTH 249 219 -12.0% RANCHO MIRAGE 273 233 -14.65% SUN CITY 122 113 -7.4%
2022 2ND QTR AVG PRICE 2023 2ND QTR AVG PRICE % CHANGE AVG PRICE $887,797 $890,468 0.3% $723,254 $636,700 -12.0% $1,840,131 $1,556,896 -15.4% $508,704 $536,621 5.5% $613,080 $609,931 -0.5% $1,329,986 $1,467,501 10.34% $669,067 $671,919 0.43% $653,006 $632,720 -3.11% $1,292,594 $1,242,523 -3.87% $1,006,213 $908,450 -9.72% $824,880 $642,862 -22.07% $886,610 $901,619 1.69% $1,177,784 $1,180,806 0.26% $612,758 $539,109 -12.02% INTERESTED IN COUNTRY CLUB HOME SALES? Visit this link or scan the QR code above to see full Quarterly Update. dianewilliamsandassociates. com/advertising 2ND QUARTER OF 2022 COMPARED TO 2ND QUARTER OF 2023
COACHELLA VALLEY TOTAL HOME SALES EVALUATION
SALES UNDER $500K SALES UNDER $1MIL SALES OVER $500K SALES OVER $1MIL Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1,009 ....... 36.7% 877 31.3% 1,305 ....... 49.6% 546 .......... 39.7% 2,161 78.7% 2,187 ........ 78.0% 2,259 ....... 85.9% 1,140 ........ 82.9% 1,770 ........ 65.4% 1,924 68.6% 1,350 ........ 51.4% 835 .......... 60.7% 596 21.7% 615 ............ 21.9% 383 ........... 14.6% 237 ............ 17.2% 2022
Q1 1ST QUARTER Q2 2ND QUARTER Q3 3RD QUARTER Q4 4TH QUARTER SALES UNDER $500K SALES UNDER $1MIL SALES OVER $500K SALES OVER $1MIL Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 630 ........... 37.4% 824 35.3% ......................... % ......................... % 1,319 78.4% 1,835 ........ 78.7% ......................... % ......................... % 1,068 ....... 63.5% 1,529 65.5% ......................... % ......................... % 369 21.9% 512 ............ 21.9% ......................... % ......................... % 2023
760.776.7070
76-375 Country Club Dr. Palm Desert, CA 92211
realestate@dwateam.com
dianewilliamsandassociates.com
DRE# 01991637 | 01325548
If your home is currently listed with another Realtor, this is not intended as a solicitation. It is not our intention to solicit an other agents active listing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the listing and/or selling agent. Broker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals. Sales may not represent all brokers.
