2nd Quarter 2022
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 three real estate teams in the Greater Palm Springs Area with over 1,087 transactions representing buyers and sellers for a sales volume of approximately $900,000,000. In Indian Ridge alone, we represented 646 buyers and sellers since 2004 with over $581,000,000 in sales volume making our team the top agents in Indian Ridge.
VA L L E Y W I D E S A L E S T O D AT E
65M
57
$
2022 Closed Volume
2
919M
nd
2022 Total Transactions
$
2022 MLS Team Ranking
Career Sales
I N D I A N R I D G E S A L E S T O D AT E
46M
29
$
2022 Closed Volume
Katie
Allison
1
2022 Total Transactions
Frank
Laura
577M
st
$
Indian Ridge Ranking
Kristeen
Diane
Heather
DIANEWILLIAMSANDASSOCIATES.COM DRE# 01991637 | 01325548
Career Sales
Terrie
Barry
2022 RECORD BREAKING SALES!
740 Elk Clover | Sold for $2,900,000 Highest sold in Indian Ridge History Represented Buyer & Seller
482 Red Arrow | Sold for $1,550,000 Highest price per square foot sold in Indian Ridge History Represented Buyer
W H AT O U R C L I E N T S S AY
DW & Associates were tremendous to work with on the transaction of selling my home. They were great in all aspects of the process. Starting from getting the price I was looking for, finding a buyer, showings, getting my home ready to show, and then taking care of the items that needed to be addressed. After closing Allison took care of my personal items and help pack them up and get them to me. They also were very good in staying in touch with me throughout the whole process from start to closing. Highly recommend DW & Associates!
– Jeff Halpern
We are so grateful for the support we received from the team at DW & Associates. Terrie and Kristeen helped us through a very complicated home purchase, while we were living abroad and in an extremely difficult market. Throughout the entire process, they were friendly, patient, and professional and by the end, almost like part of the family! We couldn’t be happier with our new home.
– Monica Dinsmore
DEAR INDIAN RIDGE RESIDENTS, Happy Summer! Hope this letter finds you and your family well! Our real estate market is continually evolving. The constantly changing landscape of the market can be tricky to keep up with, especially when you weigh in all the conflicting information being published. Know that the market is shifting but the sky is not falling! With all the different opinions and information, it can be hard not to jump to conclusions about where the real estate market is headed. We need to put things into perspective and remember the last two years were record breaking with trends that could not last forever. The perfect storm of record low interest rates, influx of buyer demand and historically low inventory, eventually had to give. However, when people start to speak of a housing slowdown, they immediately expect the economy and housing to behave like it did in 2007. That is simply not the case and what we are experiencing now is an adjustment into a more sustainable and balanced market. The main ingredient our market has needed is inventory which is expected to return to pre-pandemic levels by 2024. Although we are seeing an increase of housing supply, there is still a gap between homes available on the market and buyers looking to purchase. In 2007 Southern California had nearly 120,000 homes for sale, compared to only 20,000 homes for sale today. We are significantly below prepandemic averages, as well as 2007 numbers. The housing market has already digested the 5% plus interest rates and still, plenty of buyers continue to enter the market. With that being said, buyers are being more price conscious due to many factors, such as inflation, buyer fatigue and diminished spending power from recent rate increases. What remains true is homes that are priced correctly will always sell more quickly than those where sellers have unrealistic expectations. Today’s housing market looks very similar to pre-pandemic 2019, which was considered the strongest housing market in a decade at that time. It’s important to remember when we compare markets that we do not look at 2020 and 2021 as a marker. That period may have been a rarity with an unhealthy velocity that we all knew would come to an end. With the pandemic, we saw rapid home price appreciation while home prices were already appreciating at healthy rates before. In fact, statistics show a healthy trend for the last consecutive 10 years. However, since 2020, the increase was more dramatic simply because there were more buyers than homes. Experts are still predicting continued appreciation, but at a more stable and sustainable pace. See graph for predictions from seven industry leaders, note that none are projecting for prices to crash!
HOME PRICE FORECASTS FOR 2022
The real estate craze that took place throughout the country was no stranger to the Coachella Valley. However, like many other regions, it seems as if we are starting to see a more balanced housing market again. In the first quarter of 2022, total Coachella Valley Home sales were at 2,746 compared to second quarter total home sales of 2,803, an increase of 2.8%. This increase is due to the rising inventory levels across the entire Valley. We have also seen the number of days on market increase, especially as we move into our summer season. Even if sellers drop their asking price, they are still realizing favorable gains with the increase in home prices over the last two years. While Indian Ridge did see a significant drop in sales from Q1 and Q2 of 2021 (82 homes sold) compared to Q1 and Q2 of 2022 (41 homes sold), we ended Q2 on a positive note both in number of total sales and dollar volume. Total sales volume in Q2 was $36,470,000 compared to Q1 total sales of $22,719,000. We also saw an increase in the average price per square foot. Homes in the PUD sold for $589/sf compared to $542/ sf in Q1 2022. The HOA average price per square foot also rose to $542/ sf compared to $462/sf in Q1. While we expect the summer sales to be slower than the first half of 2022, we do believe sales will continue to be strong through the remainder of the year. Keep in mind that just like the rest of the Nation, Indian Ridge has returned to a more normalized real estate market in terms of number of homes on the market, total sales volume, and days on market. We would be happy to discuss the real estate market with you and what we are seeing at DW & Associates. As always, it is a privilege to serve as your Indian Ridge experts at the On-Site office for the past seven years. Sincerest Regards, DW & Associates
INDIAN RIDGE COUNTRY CLUB SALES JANUARY 1, 2022 TO JUNE 30, 2022
YELLOW highlighted homes indicate DW & Associates Represented Buyer or Seller BLUE highlighted homes indicate DW & Associates represented BOTH Buyer and Seller
29 TOTAL TRANSACTIONS IN IRCC YEAR-TO-DATE
17 2022
HOMES SOLD BY DW & ASSOCIATES REPRESENTING SELLER
12 2022
HOMES SOLD BY DW & ASSOCIATES REPRESENTING BUYER
INDIAN RIDGE QUARTERLY HOMES SALES ACTIVITY HOA TOTAL SALES VOLUME
2020
Q1
Q2
Q3
Q4
2021
Q1
Q2
Q3
Q4
2022
Q1
Q2
Q3
Q4
PUD UNITS SOLD
AVG. PRICE PER SF AVG. DOM
$7,380,500
11
$246
101
$11,634,900
12
$303
69
$5,678,000
8
$266
97
$8,959,900
7
$353
60
$10,056,800
15
$258
99
$16,847,210
15
$334
99
$10,923,000
15
$302
81
$15,074,400
15
$329
94
$12,642,000
18
$300
53
$24,598,792
21
$365
56
$23,941,400
28
$341
33
$19,077,500
15
$373
76
$10,147,000
11
$389
33
$10,568,000
8
$441
42
$13,603,500
13
$431
30
$15,735,000
11
$448
47
$9,719,000
8
$462
37
$13,000,000
8
$542
51
$16,605,000
14
$489
32
$19,865,000
11
$589
30
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2nd QUARTER C O M PA R I S O N 2020
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
$690,472
$1,061,240
TOTAL SALES VOLUME
TOTAL UNITS SOLD
$14,637,400
15
2021
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
$819,831
$1,232,824
TOTAL SALES VOLUME
TOTAL UNITS SOLD
$43,018,900
43
2022
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
$1,196,545
$1,729,736
TOTAL SALES VOLUME
TOTAL UNITS SOLD
$59,189,000
41
SALES UPDATE BY CITY
2021 2ND QTR SALES
2022 2ND QTR SALES
% CHANGE QTR SALES
3,586
2,803
-21.8%
BERMUDA DUNES
63
50
-20.6%
INDIAN WELLS
150
111
-26.0%
INDIO CENTRAL
98
89
-9.2%
LA QUINTA NORTH
90
51
-43.3%
LA QUINTA SOUTH
567
339
-40.2%
PALM DESERT EAST
320
219
-31.6%
PALM DESERT NORTH
185
137
-25.9%
PALM DESERT SOUTH
202
163
-19.3%
PALM SPRINGS CENTRAL
207
159
-23.2%
PALM SPRINGS NORTH
187
155
-17.1%
PALM SPRINGS SOUTH
284
249
-12.3%
RANCHO MIRAGE
354
273
-22.88%
SUN CITY
126
122
-3.2%
COACHELLA VALLEY
Information compiled from the California Desert Association of REALTORS® FlexMLS. All information is deemed reliable but not guaranteed due to the new system.
2ND QUARTER O F 2021 COMPARED TO 2ND QUARTER OF 2022
2021 2ND QTR AVG PRICE
2022 2ND QTR AVG PRICE
% CHANGE AVG PRICE
$717,705
$887,797
23.7%
$596,537
$723,254
21.2%
$1,383,310
$1,840,131
33.0%
$399,614
$508,704
27.3%
$508,322
$613,080
20.6%
$1,006,867
$1,329,986
32.09%
$511,992
$669,067
30.68%
$482,635
$653,006
35.30%
$984,333
$1,292,594
31.32%
$856,859
$1,006,213
17.43%
$577,286
$824,880
42.89%
$760,938
$886,610
16.52%
$870,157
$1,177,784
35.35%
$494,089
$612,758
24.02%
INTERESTED IN COUNTRY CLUB HOME SALES?
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COACHELLA VALLEY TOTAL HOME SALES EVALUATION 2021
SALES UNDER $500K
SALES OVER $500K
Q1
1,813......... 54.4%
Q1
1,519......... 45.6%
Q2
1,771.. ........ 49.5%
Q2
1,806........ 50.5%
Q3
1,295.. ....... 49.7%
Q3
1,339.. ........ 51.3%
Q4 1,1152........ 43.6%
Q4 1,514.......... 57.3%
SALES UNDER $1MIL
SALES OVER $1MIL
Q1
2,842 . . .... .85.41%
Q1
487............ 14.6%
Q2
2,995 . . ...... 83.7%
Q2
582............ 16.3%
Q3
2,241 . . ....... 85.9%
Q3
380 . . .......... 14.6%
Q4 2,210........ 83.6%
Q4 446.. .......... 16.9%
Q1 1ST QUARTER Q2 2ND QUARTER Q3 3RD QUARTER Q4 4TH QUARTER
2022
SALES UNDER $500K
SALES OVER $500K
Q1
1,009........ 36.7%
Q1
1,770.. ....... 65.4%
Q2
877............ 31.3%
Q2
1,924.. ....... 68.6%
Q3
......................... %
Q3
......................... %
Q4 ......................... %
Q4 ......................... %
SALES UNDER $1MIL
SALES OVER $1MIL
Q1
2,161.. ........ 78.7%
Q1
596. . .......... 21.7%
Q2
2,187......... 78.0%
Q2
615. . ........... 21.9%
Q3
......................... %
Q3
......................... %
Q4 ......................... %
Q4 ......................... %
76-375 Country Club Dr. Palm Desert, CA 92211
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.
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.
DRE# 01991637 | 01325548
760.776.7070 realestate@dwateam.com dianewilliamsandassociates.com