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Palm Springs Real Estate: Luxury Properties Report

Hideaway Laquinta 5470 Palm Springs Real EstateThe Hideaway Golf Club, La Quinta

Today’s buyers are finding great values in all price ranges including the luxury segment (homes priced over $1 million). Year-to-date La Quinta continues to lead the way with over 53 luxury sales thus far. The majority of luxury real estate transactions continue to occur in country club communities.

Desert Area Combined Sales Over $1 million

  • ’09 Y-T-D: 133 sales ($1.8 million average)
  • Same period of ’08: 297 sales ($1.95 million average)
  • Average price down $150,000 in last 12 months

#1) La Quinta Sales Over $1 Million

  • ’09 Y-T-D: 53 sales (-57%) / $1,809,802 average (-6%)
  • Same period of ’08: 124 sales ($1,710,345 average)
  • High sale: $5.2 million at Tradition Golf Club

#2) Rancho Mirage Sales Over $1 Million

  • ’09 Y-T-D: 34 sales (-50%) / $1,676,471 average (-3%)
  • Same period of ’08: 68 sales ($1,715,636 average)
  • High Sale: $4.5 million at Mirada Estates

#3) Palm Desert Sales Over $1 Million

  • ’09 Y-T-D: 19 sales (-30%) / $2,595,263 average (-34%)
  • Same period of ’08: 68 sales ($1,715,636 average)
  • High Sale: $11 million at Bighorn Golf Club

#4) Indian Wells Sales Over $1 Million

  • ’09 Y-T-D: 9 sales (-68%) / $1,902,778 average (-25%)
  • Same period in ’08 – 28 sales ($2,544.667 average)
  • High Sale: $2.9 million at The Reserve

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