January 2020
*CLICK HERE to view my entire 2019 Annual Report including STATISTICAL REPORTS, or view the report by clicking “View PDF Document” located to the right of this page under my photo.
Happy New Year! Welcome to the start of a wonderful season at Indian Ridge. Last year proved to be another great year – both in the sale of homes and memberships. December sales for our team were stronger than we have experienced in a long time, putting over $13 million into escrow which helped kick start 2020. We have been working with more active buyers this January than we have seen in past years. A total of 84 homes sold in 2019 in Indian Ridge, just one sale shy of 2018. This is pretty spectacular considering low levels of inventory. With greater inventory on the market, sales would more than likely have been even higher.
Inventory remains low with only 56 homes out of 1,068 on the market. This has held fairly constant for the past two to three years. We would anticipate prices to rise as a result of lower supply and greater demand. Buyers in our market today are very particular and discerning in their preferences and as a result, we are seeing greater price appreciation in properties that have been recently/extensively upgraded over those properties in more original condition.
While Indian Ridge sold one less home than in 2018, its total sales volume was up from $63,851,031 in 2018 to $66,312,295 in 2019. The HOA sold 47 homes, 2 more than in 2018 and the PUD sold 37 homes, 3 less than 2018. Average price per square foot was up slightly up in the HOA at $249/square foot and in the PUD at $311/square foot. Average days on market was also down for both the HOA and PUD. The average sales price in the PUD for 2019 was $1,003,279, an increase of 12.2%. The HOA finished the year almost identical to 2018, slightly down .5%.
Nationally the housing market is predicted to stay strong for 2020. According to Forbes Magazine, unemployment rates are at a record low and with low interest rates we continue to see buyers leveraging the purchase of the home. At this time, experts see very little risk in home buying.
In California, the lack of inventory continues to be an issue, something that experts say may never be remedied. Active listings fell in December for the 5th straight month, down 22.5% from last November. This was the 3rd consecutive drop in the double digits and the largest drop since April of 2013. The median home selling price across California was $589,770, up 6.4% from November 2018. However, as 2019 came to a close, prices in California were down 1.9%.
How does this compare to the Coachella Valley? If you review the “Coachella Valley Total Homes Sales Evaluation”, a total of 9,787 units sold throughout the Coachella Valley in 2019. This is down from the 10,295 units sold in 2018 and is more than likely due to lack of inventory. However, we did see larger 4th quarter sales in 2019 than we did in 2018. The Valley’s median detached home price at the end of the year was $425,000, 9% higher than in 2018…the highest on record. The Valleys median price for attached homes at the end of 2019 was 279,000, 2% above 2018.
“The Country Club Homes Sales Price Change and Appreciation” shows of the 19 Country Clubs we track, 9 more homes sold in 2019 than in 2018. The luxury home market has seen an increase in values and home sales. California Desert Association of Realtors reports the million dollar plus market increased 22% in sales in the 4th quarter of 2019. The Hideaway, Reserve and Toscana all sold more homes in 2019 than in 2018. Tradition and Vintage were only 1 home sale short from matching 2018 numbers.
We are pleased to announce a new look moving into 2020. As part of our new marketing plan, you will see our company name changing to DW and Associates. Our website will not change and anyone searching the internet for Diane Williams and Associates will be forwarded to our same site. DW and Associates will also be used on our new “For Sale” signs. You will begin seeing our modified look in the weeks to come.
Our on-site team is optimistic and excited as we continue into the new year. The phones have been busy and the walk in’s abundant. This is our fifth year in the on-site sales office and we are pleased with the continued growth of our business and our team. With the tremendous success of our clubs membership, the interest in our club continues to grow making for a very busy office.
As always, please feel free to call us with any questions you might have or stop by to say hello.
We look forward to working with you as your need for a real estate professional arises.
Sincerely,
Diane Williams Team ~ Allison Renz, Heather Wong, Terrie Pena, Frank Montiforte, Kristeen Kidd, and Laura Flannery
CalDRE #01364828