4th 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 1,179 transactions representing buyers and sellers for a sales volume of approximately $991,000,000. In Indian Ridge alone, our team achieved a remarkable sales volume of over $689,000,000, solidifying our position as the top agents in Indian Ridge.
VA L L E Y W I D E S A L E S F O R 2 0 2 3
75M 69.5
2
$
2023 Closed Volume
2023 Total Transactions
991M
nd
$
2023 MLS Team Ranking
Career Sales
INDIAN RIDGE SALES FOR 2023
56M
41
1
2023 Closed Volume
2023 Total Transactions
Indian Ridge Ranking
$
Katie
Allison
Frank
Laura
Kristeen
st
Diane
689M
$
Career Sales
Heather
DIANEWILLIAMSANDASSOCIATES.COM DRE# 01991637 | 01325548
Terrie
Barry
All information gathered from the California Desert Association of REALTORS® FlexMLS is deemed reliable but not guaranteed.
W H AT O U R C L I E N T S S AY Dear Allison, How do I begin? I know what a great real estate broker is and you hit TOP MARKS! I know what a wonderful person you must be after so many years and you are certainly “the best of the best” that I have known. How does one fall in love with their realtor.... ask me! Lots of love and thanks, – Donna & Wayne
Heather Wong and the DW Team were a pleasure to work with and I highly recommend them. Heather was extremely attentive to every detail and she responded quickly to any questions or issues as they came up. The team is very knowledgeable about the Palm Desert market and couldn’t have been more helpful. From start to finish, we received the best service we could have hoped for. Thank you Heather, Kristeen and the DW Team! – Tracy Gray
Terrie Pena and her colleagues at DW & Associates are a first class act. They handled the sale of our home very efficiently, and got us connected with an experienced escrow company and tax advisors. They gave us good advice on how to ensure our home showed well to prospective buyers, and in the end we sold it quickly and for a good price. Real estate sales are so often a source of aggravation and disappointment. Ours was just the opposite. Terrie...thank you for a great job. To anyone in the Palm Desert area, I highly recommend DW & Associates’ services. – Rob Hannaford
DEAR INDIAN RIDGE RESIDENTS,
Happy New Year! We are delighted to welcome you to the start of another season at Indian Ridge. There are many exciting developments happening at Indian Ridge, and one of the highlights is the eagerly anticipated grand reopening of the newly renovated JK’s. We look forward to witnessing the final outcome and are confident it will be nothing short of fabulous. The national housing market in 2023 experienced a notable slowdown in sales due to the presence of high interest rates, which created affordability challenges, reduced buyer demand, and resulted in a decline in overall housing transactions and market activity. At its peak, interest rates reached as high as 7.79%, and by the week ending December 28th, 2023, the average 30-year fixed-rate mortgage stood at 6.61%. As we step into 2024, experts are cautiously optimistic about the market. There is an anticipation of a gradual decline in interest rates. Coupled with the prediction of a modest dip in home prices, this may provide some much-needed relief for prospective homebuyers, making homeownership more attainable. It’s important to note that these projections can vary from one market to another, much like the weather affecting different regions differently. Local conditions and factors will play a role in shaping the real estate landscape in the coming year. According to our “Sales Update by Cities” report, the Coachella Valley was up 2.8% for sales in the 4th quarter of 2023 compared to 2022. Average price was also up 4.8% compared to 2022. Ten of the 13 areas we track saw an increase in sales with the top three including Palm Springs Central with a 33.3% increase, Rancho Mirage with a 22.06% increase and Palm Desert East with a 20% increase. Seven out of the 13 areas experienced an increase in their average price with Bermuda Dunes leading the way with 29.7% increase and Palm Desert South with a 25.80% increase. Referring to our “Country Club Home Sales” report, in terms of Country Clubs we track, six out of the 19 clubs sold the same number of homes or more in 2023 than 2022. These clubs include Indian Ridge, Morningside, Andalusia, Hideaway, Toscana, and Tradition. Palm Valley, The Springs, and PGA West were only within a few homes short of their sales from 2022. Indian Ridge saw a solid performance in home sales and price stability. In 2023, a total of 62 homes were sold in Indian Ridge, 5% higher than 2022. The HOA sold 32 homes and the PUD sold 30 homes. Since 2020-
21 are considered anomaly’s due to COVID, we are now using 2019 and previous years as our measurement for stats. Average days on market for 4th quarter 2023 in the HOA was 71 days on market and the PUD was 67 days on market. That is still approximately 49% less than 2019. Inventory continues to remain low, with just 20 out of 1,068 homes currently available for sale. This trend has persisted for the past several years and seems to have become our new normal. In our fourth quarter report from 2019, we noted 56 homes on the market, and back then, we already thought that to be low inventory levels. As a natural consequence of limited supply and increased demand, we witnessed prices go in an upward trajectory and have only seen a mild softening. In fact, the average price of homes in the HOA is up 73% from 2019 and the average price of homes in the PUD is up 68%. Despite national trends of home sales slowdowns, our real estate market indicates that our properties continue to offer excellent value. The cost of purchasing a home with an equivalent square footage in the desert is significantly lower than what one would pay in other areas. As we enter January, we know the next couple weeks will be very telling of what the season will bring. We are pleased to report the phone is already starting to ring and showings have started with buyers looking for their perfect home. As we say goodbye to 2023, we’re excited to announce that our office has wrapped up the year on a strong note, with $76,000,000 in sales. This encompasses a total of 69.5 buyers and sellers, securing our position as the #2 agents in the entire Coachella Valley. As we enter our 9th year as the Indian Ridge on-site team, we want to express our deep appreciation for your unwavering support. This includes clients, homeowners, board members and the dedicated staff at Indian Ridge. It’s a privilege to call the on-site office our home! Remember, we’re always here for you. Whether you want to chat about the real estate market or have any questions, feel free to drop by or give us a call. Our office is open 7 days a week, with someone always available to meet with you. Here’s to seeing you in 2024! Warmest Regards,
Heather Wong Realtor®/Co-Owner
INDIAN RIDGE COUNTRY CLUB SALES JANUARY 1, 2023 TO DECEMB ER 31, 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.
41 TOTAL TRANSACTIONS IN IRCC
21 2023
HOMES SOLD BY DW & ASSOCIATES REPRESENTING SELLER
20 2023
HOMES SOLD BY DW & ASSOCIATES REPRESENTING BUYER
INDIAN RIDGE QUARTERLY HOMES SALES ACTIVITY HOA TOTAL SALES VOLUME
2021
Q1
Q2
Q3
Q4
2022
Q1
Q2
Q3
Q4
2023
Q1
Q2
Q3
Q4
PUD UNITS SOLD
AVG. PRICE PER SF AVG. DOM
$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
$5,275,000
4
$595
42
$11,870,000
6
$616
60
$3,670,000
3
$495
38
$10,689,000
6
$581
20
$10,667,000
10
$447
61
$9,525,000
6
$542
69
$8,354,000
8
$430
102
$19,041,000
13
$508
87
$10,863,000
10
449
66
$4,050,000
3
468
71
$2,455,000
4
446
71
$10,305,000
8
501
67
4TH QUARTER C O M PA R I S O N 2021
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
$819,831
TOTAL SALES VOLUME
$1,232,824 $29,338,500
TOTAL UNITS SOLD
24
2022
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
TOTAL SALES VOLUME
$1,215,346 $1,789,400 $14,359,000
TOTAL UNITS SOLD
9
2023
HOA AVERAGE PUD AVERAGE SALES PRICE SALES PRICE
TOTAL SALES VOLUME
$1,077,966 $1,480,034 $12,760,000
TOTAL UNITS SOLD
12
SALES UPDATE BY CITY
2022 4TH QTR SALES
2023 4TH QTR SALES
% CHANGE QTR SALES
COACHELLA VALLEY
1,392
1,431
2.8%
BERMUDA DUNES
20
23
15.1%
INDIAN WELLS
50
40
-20.0%
INDIO CENTRAL
40
42
5.0%
LA QUINTA NORTH
27
32
18.5%
LA QUINTA SOUTH
153
171
11.8%
PALM DESERT EAST
95
114
20.0%
PALM DESERT NORTH
66
57
-13.6%
PALM DESERT SOUTH
52
57
9.6%
PALM SPRINGS CENTRAL
69
92
33.3%
PALM SPRINGS NORTH
105
76
-27.6%
PALM SPRINGS SOUTH
113
130
15.0%
RANCHO MIRAGE
136
166
22.06%
SUN CITY
68
71
4.4%
Information compiled from the California Desert Association of REALTORS® FlexMLS. All information is deemed reliable but not guaranteed due to the new system.
4TH QUARTER OF 2022 COMPARED TO 4TH QUARTER OF 2023
2022 4TH QTR AVG PRICE
2023 4TH QTR AVG PRICE
% CHANGE AVG PRICE
$763,791
$800,773
4.8%
$592,128
$767,824
29.7%
$1,434,653
$1,646,829
14.8%
$510,962
$463,682
-9.3%
$566,222
$642,046
13.4%
$1,185,145
$1,065,332
-10.11%
$674,298
$626,190
-7.13%
$634,730
$624,057
-1.68%
$1,006,843
$1,266,642
25.80%
$860,756
$912,343
5.99%
$664,377
$655,008
-1.41%
$855,781
$887,282
3.68%
$1,005,651
$1,048,835
4.29%
$570,847
$567,281
-.62%
INTERESTED IN COUNTRY CLUB HOME SALES?
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COACHELLA VALLEY TOTAL HOME SALES EVALUATION 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
1,305........ 49.6%
Q3
1,350......... 51.4%
Q4 546 . . ......... 39.7%
Q4 835........... 60.7%
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
2,259........ 85.9%
Q3
383............ 14.6%
Q4 1,140......... 82.9%
Q4 237.............17.2%
Q1 1ST QUARTER Q2 2ND QUARTER Q3 3RD QUARTER Q4 4TH QUARTER
2023
SALES UNDER $500K
SALES OVER $500K
Q1
630.. ..........37.4%
Q1
1,068........ 63.5%
Q2
824........... 35.3%
Q2
1,529 . . ....... 65.5%
Q3
604........... 38.1%
Q3
994.. ......... 62.6%
Q4 516 . . ........... 36.1%
Q4 925........... 64.6%
SALES UNDER $1MIL
SALES OVER $1MIL
Q1
1,319......... 78.4%
Q1
369. . .......... 21.9%
Q2
1,835 . . ....... 78.7%
Q2
512............. 21.9%
Q3
1,285 . . ........... 81%
Q3
308 . . .......... 19.4%
Q4 1,145............ 80%
Q4 289........... 20.2%
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