THE CITRUS
BEYOND THE GREENS
THE CITRUS Market Update February 2025
Here are the data with a comparison 2023 and 2024
Total homes sold in 2023: 30 and 1 condominium
Total homes sold in 2024: 21 homes, 5 condominium and 2 new homes on Breva. These two homes are not included in the data analysis as they are way different form the other homes.
MARKET OVERVIEW & TRENDS IN THE CITRUS
In 2024, condominium sale prices closely mirrored those of single-family homes, with an average price per square foot of $491. The range varied from a low of $375 per square foot to a high of $586 per square foot. Condominiums typically sold within an average of 38 days.
Inventory in 2024 was notably tighter, with less than two months of available homes on the market at any given time. While we had hopes in 2023 for a more balanced market, with inventory potentially reaching up to four months, those expectations didn’t fully materialize. On the whole, while average prices slightly decreased for most models in the Citrus community, the highest prices saw a minor drop, but the lower price points remained steady. Home prices, of course, are influenced by various factors such as location, condition, and the extent of any upgrades—particularly if the property has been beautifully remodeled.
WHAT CAN WE EXPECT IN 2025?
Demand for homes in The Citrus remains robust, and prices continue to hold steady. If inventory remains constrained, we will likely see prices increase. At the time of this report, there were only seven active listings available, ranging in price from $1,095,000 to $3,650,000. Recently, several larger homes have been listed, and I expect more to come. Additionally, we are seeing a notable influx of buyers from the Los Angeles area, many of whom are seeking temporary homes while their properties are being rebuilt following the recent fires. This surge in demand has driven up prices in some cases, and we’re witnessing bidding wars for exceptional properties.
The buyer pool is active, with many prepared to make cash offers or secure small loans. Interest rates are not currently a major factor in the buying decisions of most Citrus buyers. However, broader economic and stock market trends could influence purchasing behavior moving forward.
A GROWING POOL OF BUYERS
At present, I’m working with four qualified buyers, all seeking homes within the $1.8 million price range—yet finding the right properties has proven to be challenging. This raises the question: Is $1.5 million the new baseline for homes in this area? Just a couple of years ago, it was under $1 million!
If you’ve been considering selling, now may be an ideal time to capitalize on the current demand and limited supply. There’s a strong buyer presence actively looking for homes just like yours. Please don’t hesitate to reach out if you’d like more information about your home’s potential value in today’s market.
Anne A Champion For The Citrus
My Real Estate journey started with a passion for excellence; it grew into a passion for customer satisfaction.
I have the privilege to live in PGA West and to golf and work in some of the most beautiful golf courses of La Quinta. I have more than 11 years of experience as a realtor in the Valley and I have been nominated among the Top Realtors of the Valley 5 consecutive years.
I love being a Real Estate Agent: the trust built with my clients, the success we achieve together in their real estate journey and the satisfaction of a job well done keeps me going everyday!
Let’s get together and talk real estate strategy for you, with you!
