Desert Sun Retreats 5-22-22

May 20, 2022

DS-GCI0877435-03

OPEN HOUSE GUIDE ~ PAGE OPEN HOUSE GUIDE ~ PAGES 2215 ~ 23

2RE | FRIDAY, MAY 20, 2022 | THE DESERT SUN

RETREATS

LOOKING FOR A PLACE TO LET YOUR HAIR DOWN? JOIN THE CLUB.

PRIVATE COUNTRY CLUB RESORT COMMUNITY WITH REES JONES GOLF, DINING, FITNESS, PICKLEBALL AND TENNIS. 24-HOUR GUARDED GATES WITH ROVING SECURITY

View available homes and more online at AndalusiaCC.com/Homes-For-Sale

81738 Andalusia

3,280 sq.ft. - 4BD 4.5 BA - $3,295,000

SEVEN NEW MODELS UNDER CONSTRUCTION New & Resale Residences $1.1M to $3M | NEW SALES & DESIGN CENTER! Open Daily 9-5 La Quinta, California | 760.777.1000 | AndalusiaCC.com For Over 50 Years, Builder of America’s Finest Communities.

All information is deemed reliable but not guaranteed. The purchase of a residence or homesite does not include a Premier Membership. Andalusia Homes Inc. CalDRE# 00865038

DESERTSUN.COM | FRIDAY, MAY 20, 2022 | 3RE

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OVERLOOKING GREG NORMAN GOLF COURSE 4 BEDS | 4 BATHS |3,412 SQ FT | $1,679,900

ONE-OF-A-KIND DREAM HOME IN PALM SPRINGS 4 BEDS | 4 BATHS |3,306 SQ FT | $3,498,000

OPEN HOUSE MAY 21ST | 1:00 - 3:00 PM 2 BEDS | 2 BATHS | 1,291 SQ FT | $435,000

ANNE STARK | 760.831.3355 | DRE #01973447 81595 TIBURON DRIVE, LA QUINTA

SANDRA QUINN | 760.861.5150 | DRE #01391280 466 S PATENCIO ROAD, PALM SPRINGS

DEBBIE BEHLMAN | 760.574.4612 | DRE #01473940 43762 AVENIDA ALICANTE, PALM DESERT

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WELCOME TO VILLAGGIO ON SINATRA 4 BEDS | 5 BATHS | 4,445 SQ FT | $2,495,000

OPEN HOUSE MAY 21ST & 22ND | 11:00 - 2:00 PM 4 BEDS | 4 BATHS |2,486 SQ FT | $2,850,000

BEAUTIFUL & CHARMING HOME IN INDIAN WELLS 3 BEDS | 3 BATHS | 2,944 SQ FT | $1,398,900

LOUISE HAMPTON | 760.320.4586 | DRE #00802409 2 VILLAGGIO PLACE, RANCHO MIRAGE

SANDRA QUINN | 760.861.5150 | DRE #01391280 675 E MESQUITE AVENUE, PALM SPRINGS

EVE ZIMMERLE | 442.241.6686 | DRE #01966694 MARI CHAVEZ | 760.880.7267 | DRE #02113571

75654 VIA SERENA, INDIAN WELLS

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OPEN HOUSE MAY 21ST & 22ND | 11:00 - 3:00 PM 3 BEDS | 4 BATHS | 2,108 SQ FT | $1,200,000

OPEN HOUSE MAY 21ST | 10:00 - 1:00 PM 4 BEDS | 5 BATHS | 4,700 SQ FT | $1,895,000

OPEN HOUSE MAY 21ST | 11:00 - 1:00 PM 3 BEDS | 3 BATHS| 2,727 SQFT | $1,950,000

TARI CLAY | 805.570.9432 | DRE #01280133 1787 MIRO CT, PALM SPRINGS

TARI CLAY | 805.570.9432 | DRE #01280133 75537 DESIERTO, INDIAN WELLS

DEBORAH FERRELL | 310.990.0865 | DRE #1981624

WWW.BHHSCAPROPERTIES.COM

TERRY CAGEN |760.766.2959 | DRE #02009748

2355 S. PEBBLE BEACH, PALM SPRINGS

©2022 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity.

4RE | FRIDAY, MAY 20, 2022 | THE DESERT SUN

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OPEN HOUSES

DRE# 01325548 760.341.4141

VISIT BDHOMES.COM FOR MORE

• PALM SPRINGS •

• PALM DESERT •

OPEN: Sat/Sun 12:00pm-2:00pm

2BD/3BA $585,000

Village Traditions 425 Copper Canyon Road Wayne Turney 760-333-9930 Sat/Sun 11-1

2BD/2BA $360,000

Via Portofino Ahu Kocaballi 760-216-0212

2810 Via Caldera Sat 12-2

3BD/2BA $750,000

Victoria Park/Vista Norte Randy Heyl 310-497-7983

2BD/2BA $599,000

Sun City Palm Desert Gayle Pietras 760-636-8527

38568 Bent Palm Sat 12-2

1341 E. Adobe Way Sun 11-2

3BD/3BA Deepwell $1,899,000 Peter Roa 760-218-3349

1151 S Calle Rolph Sat 11-3/Sun 12-3

• CATHEDRAL CITY • 3BD/3BA $695,000

Rancho Village Christina Cook 760-219-0021

36636 Calle Oeste Sun 12-3

• RANCHO MIRAGE • 3BD/2BA $859,000

Del Webb RM Andrew Britt 919-631-3699

17 Cork Tree Sat /Sun 11-2

The Springs Country Club, Rancho Mirage 115 Columbia Drive • $1,395,000 • 3BD/3BA • 3088 SF Sat: Denise Chlouber 760-774-700 • Sun: David Tallman 760-285-5922

2BD/2BA $895,000

Del Webb RM Tony Otten 760-333-9902

67 Bordeaux Sat 12-2

3BD/3BA The Springs Country Club $1,178,000 Judy Carneiro 760-799-5195

7 Seton Court Sat 12-2

3BD/3.5BA Mira Vista $1,499,900 Carol Trentacosta 760-574-9382

86 Via Bella Sat 11-2

3BD/3.5BA Indian Ridge Country Club 368 Desert Holly Drive $970,000 DW & Associates 760-776-7070 Sat 1-4 3BD/2BA $975,000

Palm Desert Jim Helke 760-567-3069

73607 Haystack Road Sun 11-2

3BD/3.5BA Indian Ridge 341 White Horse Trail $1,598,000 DW & Associates 760-776-7070 Sat 1-3

• INDIO • 3BD/3BA $579,500

Indian Palms Jerry Dohn 760-498-6881

82252 Vandenberg Drive Sat 11-1

Go With The Proven Desert Leader Bennion Deville Homes has the proven results to help you with your desert real estate needs. Whether buying or selling, we will Unlock Possibilities for you.

$3.1

$3B

BILLION

Additional $ volume not reported in MLS.

RESIDENTIAL SALES • NOTABLE BROKERAGES CLOSED SALES VOLUME • JANUARY - DECEMBER 2021

$2.5B $2B

$2.34 B

$1.5B

$1.27 B

$1.15 B

$826 M

$1B

$784 M

$727 M

$630 M

SB

BH

$500M $0

BDH BDH KW CP

KW

Bennion Deville Homes Keller Williams Compass

CP

HS HS CB

HomeSmart Coldwell Banker

CB SB BH

Sotheby’s Intl. Realty Berkshire Hathaway HomeServices

Source: Greater Palm Springs Multiple Listing Service, who are not responsible for its accuracy. Analysis dates are 01/01/2021 - 12/31/2021.

Copyright ©2022 Real Data Strategies, Inc. All rights reserved. Does not reflect all results or all activity in the marketplace due to space limitations and editorial intent.

DESERTSUN.COM | FRIDAY, MAY 20, 2022 | 5RE

Recapping the April 2022 Coachella Valley Real Estate Market Coachella Valley Market Snapshot A P R I L 2 02 2 CO M PA R E D

$620,000 Median Sale Price

27

M O N T H OV E R M O N T H

A N D Y E A R OV E R Y E A R

768

925

Active Listings

Average Days on Market

up 2.1%

up 31.9%

down 3.6%

down 43.8%

up 28.9%

up 15.3%

Compared to last month

Compared to 2021

Compared to last month

Compared to 2021

Compared to last month

Compared to 2021

O

ur April 2022 Coachella Valley real estate market recap examines what’s happening across the desert housing landscape. There are some interesting trends emerging in key market metrics, and we are starting to hear the “S” word – Shift - thrown out a lot in the industry.

Are we heading toward a market shift here in the desert? Read on to find out! The data we use in our real estate market summaries are representative of the desert resort region. If there is a particular city, community, or neighborhood of interest to you please reach out to your local Bennion Deville Homes real estate expert. Visit BDHomes.com to get started. We will unlock possibilities for you.

The desert real estate market continues its run of strong numbers despite some pattern changes in the data. For the second consecutive month, the number of homes on the market at the end of the month increased. April also saw a large drop-off in the number of homes sold, while the number of new listings was slightly lower than the month prior. However, the sale pace, noted as days on market, continues to quicken, and the listing discount, noted as the percentage difference between the sale price and the list price, exceeds 100%, meaning on average homebuyers are paying a premium for a property. All these factors are squeezing prices higher across the desert.

As long as inventory remains at low levels and the sale pace exceeds the pace at which the market can be replenished, we will continue to see these conditions prevail. One measurable sign that change could be in store is the drop in the number of sales, which pushed the months of inventory up for the second straight month. As we head into the summer months it will be

Closed Sales (units)

down 15.5% down 26.4% Compared to last month

Compared to 2021

0.8

Months of Inventory

up 60.0%

Compared to last month

up 60.0% Compared to 2021

interesting to watch how activity levels compare to the previous years, both pre-2020 and over the past 2 years, and if momentum starts to shift.

April 2022 had 925 home sales, a 26.4% drop from the same month in 2021 and a 15.5% decline from March of this year. Those sales created over $712 million in sales volume, a 31.2% increase year-over-year and a slight 0.6% upward nudge from the prior month. There were 1,149 new homes listed on the market in April 2022, a slight 0.5% decrease from the same period last year and a 1.5% stumble from March 2022. The market had 1,246 homes enter pending status, a 5.8% increase year-over-year and a 15.8% leap month-over-month. The median sale price of a home in the Coachella Valley finished at $620,000, a massive 31.9% jump from the same time last year and a 2.1% bump from March of this year. Likewise, the average price per square foot for a sold home ended the month at $443.00, a 39.3% increase yearover-year and a 4% improvement upon March’s figure. The sale pace, noted as average days on the market, clocked in at a speedy 27 days, a 43.8% drop (faster pace) from last year and a 3.6% decline from the previous month.

The listing discount, or percentage difference between the sold price and list price, ended the month at 102%, meaning on average homes sold for 2% above the list price across the valley. This is a 3% increase over last year and a 1% bump from the prior month. Overall, there is a 0.8-month supply of homes to feed demand, a 60% increase over the same period last year and a 60% increase over March 2022. A balanced market is considered around a 6-month supply, indicating that the market is still heavily slanted toward the seller’s side of the bargaining table.

B D H O M E S .CO M • D R E # 01 3 2 5 5 4 8 • 76 0. 3 41 . 41 41

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YO U R R E A L E STAT E E X P E RTS I N L A Q U I N TA & G R E AT E R PA L M S P R I N G S

F E AT U R E D P R O P E R T Y

PGA WEST

Featured property represented by

GREGG GARD

310 592 8200

DRE License # 01920773

OPEN HOUSE SUN 1-4PM

3 BD/ 3 BA • 1,918 SF • $899,000 • 54481 Oakhill

PGA WEST

PGA WEST

PALM DESERT

TENNIS VILLAS

PGA WEST

$1,200,000 • 3 BD/ 4 BA, 3,103 SF 80030 Cedar Crst

$998,000 • 3 BD/ 4 BA, 3,054 SF 80587 Cherry Hills

$739,000 • 3 BD/ 3 BA, 1,627 SF 76642 Begonia

$1,075,000 • 3 BD/ 3 BA, 1,931 SF 76940 Calle Mazatlan

$450,000 • 2 BD/ 2 BA, 1,283 SF 54985 Tanglewood

Linda Olsen 760 485 6889

Becky King 714 814 8101

Carol-Lynne Mittelbusher | Trish Moreland 760 449 6216 | 775 530 6908

Tanya Burak 760 898 1178

Rick Parnell 360 280 4178

LA QUINTA

LA QUINTA

PGA WEST

PGA WEST

LA QUINTA

$1,595,000 • 3 BD/ 4 BA, 2,635 SF 79967 Rancho La Quinta

$305,000 • 1 BD/ 1 BA, 682 SF 50740 Santa Rosa Plaza

$1,200,000 • 3 BD/ 4 BA, 3,020 SF 54997 Laurel

$1,180,000 • 3 BD/ 3 BA, 2,101 SF 80260 Merion

$723,000 • 4 BD/ 2 BA, 2,400 SF 78645 Naples

Joni Prosser 760 902 8536

Marshall Harris 760 250 9858

Barbara Klein | Ginger Nelson 760 392 1523 | 760 567 1566

Marshall Harris 760 250 9858

Barbara Klein 760 392 1523

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BUYING • SELLING • LEASING C A L I F O R N I A L I F E S T Y L E R E A LT Y. C O M | D R E # 0 2 0 6 3 3 5 9

EQUAL HOUSING

OPPORTUNITY

DESERTSUN.COM | FRIDAY, MAY 20, 2022 | 7RE

NEW HOME DEVELOPMENTS

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3

1

4

INDIO 1

PALM DESERT GALLERY AT TERRA LAGO by GALLERY HOMES 22 Lakeside Executive Homes / From the $700,000's/ Inside the Gates of Popular Terra Lago, North Indio. Up to 2,653 sq. ft. / Up to 4 Bed / 4 Bath.

Sales Center Hours: Fri-Tues / 10-4 GalleryAtTerraLago.info 760.501.6262

PALM SPRINGS 2

GALLERY AT MIRALON by GALLERY HOMES 50 Desert Modern Homes / 1 & 2 Story From the Mid $900’s / Inside the Gates of Award Winning Miralon / Up to 3,215 sq. ft. / Pool Included / Minutes to Downtown Palm Springs Sales Center Open Daily 10-4 GalleryAtMiralon.info 760.636.9127

3

University Park Now open for information in Palm Desert 3 New Communities from 1,551 to 2,335 sq. ft. with 2-4 bedrooms and 2.5-3 bathrooms.

Open Sat & Sun 9:30am-6pm.

Models Grand Open June 11th!

Lennar.com/DesertHomes 800.495.8076

INDIAN WELLS 4

The Province at Indian Wells New luxury homes Now Selling in an exclusive gated community.

Starting from $1.2 million. From 2,424-3,647 sq. ft. Sales Center is open for information daily from 10am to 5pm. Located at 74913 Highway 111 Lennar Models Grand Open June 11th!

TheProvinceIW.com | 800.495.8076

8RE | FRIDAY, MAY 20, 2022 | THE DESERT SUN

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BACKED BY DATA. POWERED BY INTELLIGENCE.