PGA West real estate sales increased 10% in 2011 over 2010. Single-family home sales increased 9.49% to 106 units and sales of PGA West condos rose an impressive 15.22% to 92 unit sales over 2010.
Real estate sales within the gates of PGA West totaled $109 million for in 2011 with 180 total unit sales compared to $103 million in 2010 with 162 unit sales.
The PGA West Greg Norman gated community scored a ‘double-double’ as sales grew an impressive 50% in ‘11. The average sales price of a Norman single-family home also increased 4.78% to $943,438.
PGA West Average Home Sale Price Now At $792,988
The average sales price for a PGA West single-family home during 2011 was $792,988 while the average condo sale price hit $402,577. Overall sales prices declined 8.32% during the year, which seemed to fuel the unit sales increases of both PGA West homes and condos.
Golf membership prices at PGA West were reduced from $125,000 to just $40,000 last November, and this could have a further positive impact on 2012 sales. Time will tell, so stayed tuned.
PGA West includes six gated golf communities including Legends, Greg Norman, Nicklaus Private, Nicklaus Tournament, Palmer Private and the Tom Weiskopf.
Data Source: MLS sales data compiled by Sheri Dettman & Associates ©