Lucio Bernal Custom Report June 2018_

LUCIO BERNAL L U X U RY MARKET REPORT

PA L M S P R I N G S & PA L M D E S E RT JUNE 2018

LUCIO BERNAL

Broker Associate, CLHMS, CRS DRE# 01236217

310.383.2466

Lucio.Bernal@camoves.com www.BernalSmithGroup.com As luxury expert in Palm Springs, Lucio Bernal offers a wealth of knowledge and expertise that is unsurpassed; you can always trust his service and commitment.

Lucio Bernal has served affluent clientele for over 20 years. He offers keen insight into executive and corporate relocation services, and understands and adapts to constant changes in the luxury market. His expertise is why his clients are excited to refer his services to their family, friends, and colleagues. He is a Broker Associate, Coldwell Banker Global Luxury Ambassador, a Luxury Property Specialist, an expert trainer with The Institute for Luxury Home Marketing, and served as President of the Palm Springs Regional Association of REALTORS® after having been named the association’s REALTOR® of the year in 2015.

• Coldwell Banker Global Luxury Property Specialist • Coldwell Banker Global Luxury Ambassador • Certified Luxury Home Marketing Specialist – Million Dollar Guild • 2017 President of the Palm Springs Regional Association of REALTORS® • Certified Residential Specialist, Pricing Strategy Advisor

TABLE OF CONTENTS PAGE 4

LUXURY REPORT EXPLAINED

PAGE 5

WELCOME MESSAGE

PAGE 6

NORTH AMERICAN LUXURY MARKET REVIEW

PAGE 7

13 MONTH MARKET TRENDS

PAGE 8

SINGLE FAMILY HOMES MONTHLY OVERVIEW

PAGE 9

ATTACHED HOMES MONTHLY OVERVIEW

PAGE 10-11

MONTHLY STATISTICS BY CITY - Single Family Homes

PAGE 12-13 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 15

LOCAL LUXURY MARKET REVIEW

PAGE 16-17 SINGLE FAMILY HOMES - Monthly Statistics PAGE 18

THANK YOU

TORONTO

SINGLE-FAMILY HOMES

13-MONTH LUXURY MARKET TREND 4 Median Sales Price

$3,120,000

181

82 Apr-17

$3,310,000

106

143

$2,997,500

144

May-17

$3,219,000

Jun-17

54 Jul-17

$3,200,000

$3,125,000

$3,175,000

Solds

$3,125,000

347

326

277

199 80

$3,065,000

Inventory

247

30

59

Aug-17

Sep-17

Oct-17

67

Nov-17

$3,047,500

30 Dec-17

31 Jan-18

$3,112,500

$2,937,500

425

407

362

283

241 63

$3,435,000

44

52

80

Feb-18

Mar-18

Apr-18

MEDIAN DATA INVENTORY March

April

407

425 VARIANCE: 4 %

SALE PRICE PER SQFT. March

N/A

April

N/A VARIANCE: N/A

SOLDS March

SALES PRICE April

52

80 VARIANCE: 54 % SALE TO LIST PRICE RATIO March

April

97.26% 98.48% VARIANCE: 1 %

March

$

2.94m

April

3.11m 6%

$

VARIANCE:

DAYS ON MARKET March

April

10

10 0%

VARIANCE:

TORONTO MARKET SUMMARY | APRIL 2018 • The Toronto single-family luxury market is a Balanced Market with a 19% Sales Ratio.

• Homes sold for a median of 98.48% of list price in April 2018.

• The most active price band is $8,000,000-$8,999,999, where the sales ratio is 40%.

• The median luxury sales price for single-family homes has increased to $3,112,500.

– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.

Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes.

It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More indepth reports on the luxury communities in your market are available as well.

Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.

By contrast, a Seller's Market gives sellers greater control over the price point. Typically this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher.

A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.

REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month.

DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.

LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes.

NEW LISTINGS: The number of homes that entered the market during the current month.

PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.

SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceeds current inventory.

SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.

THIS IS YOUR

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MAP OF LUXURY RESIDENTIAL MARKETS

W

elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report

provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.

Copyright © 2018 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute annually. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.

NORTH AMERICAN M A Y LUXURY REVIEW 2 0 1 8 May is considered to be the barometer month in which to measure the year’s luxury trends and discover the influencers of today’s affluent, discerning buyers, and investors in their decision processes. In 2018, these trends are proving that there may be a need to Zag when everyone else is Zigging, to achieve success.

The world is cultivating Millennials, providing for their tastes, but it should be remembered that it is the Boomers who have the greater spending power right now! Boomers might be less effected by current trends, but they embrace and appreciate unique experiences, new opportunities, value for money, customer service, and most importantly personalization. In the luxury retail market, 45% of customers are asking for personalized products and service – which translated into real estate means that it’s time for your marketing and their experiences to be both personalized and unique – so don’t be scared to do things differently!

Likewise it is not old money, but rather successful entrepreneurs and international business owners that are creating new influences on the location and type of home being purchased. It is critical to recognize these trends and influencers when you are looking for real estate solutions for the affluent.

Traditionally markets such as San Diego, Scottsdale, Vancouver, Los Angeles, Toronto, New York, and many of Florida’s cities were considered to be ‘The Luxury Destinations’. However, statistics are revealing that those who zagged to Nashville, Las Vegas, San Francisco, Austin, Seattle, Raleigh-Durham and Denver are reaping the benefits of increased home prices and the opportunity to divest in a ‘seller’s market’.

The attached luxury property market, including both townhomes and condos, is unfolding into an interesting story; a continual increase in the numbers of sales during the last 6 months, a 6% increase over the same period last year combined with list price to sold price ratio at 99.16%!

But, it is the spikes in unexpected locations that is proving that trends are zagging; cities such as Nashville and Seattle saw an increase of 283% and 47% respectively last month – for completely different reasons.

Nashville has become one of the US’s hottest cities and its downtown core is booming with over $4 billion in active building permits due to its pro-small business attitude and commitment to keeping a small town feel that embraces creativity, culture and passion. Seattle’s story differs in so much that it is now in the Top 4 of the largest cities in the US and change has been affected

by Corporate giants - previously Boeing and Microsoft - and in 2016, Amazon, each causing an increased surges of new residents.

Coming back to the overall North American market, both single-family and attached segments are reporting a balanced market with minor increases to 17.8% and 18.08% respectively.

Currently, figures are in line with the traditionally busy spring market with both inventory and sales increases.

For more information on your local luxury market, please refer to your City Report where trends are reported in more detail.

– 13 - MONTH MARKET TRENDS* – FOR THE LUXURY NORTH AMERICAN MARKET

Single-Family Homes

Attached Homes

Single-Family List Price

Attached List Price

All data is based off median values. Median prices represent properties priced above respective city benchmark prices.

DAYS ON MARKET

80

60

53

49 40

56

42

37

60

51 43

41

39

61

59

56

44

40

35

44

44

43

37

42

40

41

31 33

33

20

0 MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

$573

$575 $390

$393

$397

$388

$357

$381

$382

$398

$389

$300

$383

$387

$400

$408

$560

$511

$558

$526

$543

$564

$527

$501

$523

$543

$528

$500

$387

PRICE PER SQUARE FOOT

$600

$200

$100

$0

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

APR

MAY

SALES PRICE VS. LIST PRICE

$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $-

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month April 2018 | May 2018

SINGLE-FAMILY HOMES April

May

April

May

Median List Price

$1,657,500 $1,695,000

Total Inventory

36,941

39,321

Median Sale Price

$1,390,000 $1,450,000

New Listings

11,005

11,941

5,991

7,000

31

40

3,560

3,595

Median SP/LP Ratio

97.72%

97.62%

Total Sold

Total Sales Ratio

16.22%

17.80%

Median Days on Market

$408

$390

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





936

1,009

New Listings

Total Sold





9

1.58%

Med. Sale Price

Days on Market

Sales Ratio

60,000

$



SINGLE-FAMILY HOMES MARKET SUMMARY | MAY 2018 •

Official Market Type: Balanced Market with a 17.80% Sales Ratio.1

•

Homes are selling for an average of 97.62% of list price.

•

The median luxury threshold2 price is $975,000, and the median luxury home sales price is $1,450,000.

•

Markets with the Highest Median Sales Price: Vail ($3,940,000), Washington D.C. ($3,680,000), LA-Beach Cities ($3,592,500), and Vancouver ($3,230,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (92%), Seattle (74%), San Francisco (62%), and Denver (46%).

1

Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month April 2018 | May 2018

ATTACHED HOMES April

Median List Price Median Sale Price

May

$1,103,000 $1,067,000

April

May

12,225

13,078

New Listings

3,387

4,012

2,205

2,364

33

33

2,067

2,016

Total Inventory

$951,750

$935,000

Median SP/LP Ratio

98.70%

99.16%

Total Sold

Total Sales Ratio

18.04%

18.08%

Median Days on Market

$573

$575

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





625

159

New Listings

Total Sold



 

0

0.04%

Med. Sale Price

Days on Market

Sales Ratio

16,750

$



ATTACHED HOMES MARKET SUMMARY | MAY 2018 •

Official Market Type: Balanced Market with an 18% Sales Ratio.1

•

Attached homes are selling for an average of 98% of list price.

•

The median luxury threshold2 price is $750,000, and the median attached luxury sale price is $950,000.

•

Markets with the Highest Median Sales Price: Vail ($4,938,250), Park City ($2,757,950), San Francisco ($2,307,000), and Greater Boston ($2,007,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (188%), LA-The Valley (55%), Fairfax County (54%), and San Francisco (49%).

1

Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$1,125,000

$1,039,800

828

417

119

35

Buyer's

AZ

Phoenix

$714,750

$646,250

842

233

220

72

Seller's

AZ

Scottsdale

$1,822,000

$1,465,000

1,202

146

156

118

Buyer's

AZ

Tucson

$772,450

$627,200

748

132

112

51

Buyer's

BC

Vancouver

$3,988,000

$3,230,000

1,560

502

79

21

Buyer's

BC

Victoria

$1,799,000

$1,563,750

401

192

48

27

Buyer's

CA

Los Angeles Beach Cities

$4,995,000

$3,592,500

409

118

84

40

Balanced

CA

Los Angeles City

$3,995,000

$2,922,000

787

259

130

50

Balanced

CA

Los Angeles The Valley

$2,100,000

$1,700,000

640

269

142

43

Seller's

CA

Marin County

$3,650,000

$2,910,000

155

41

56

18

Seller's

CA

Napa County

$2,792,500

$2,800,000

144

42

15

58

Buyer's

CA

Orange County

$2,399,500

$1,887,893

1,374

412

344

30

Seller's

CA

Palm Springs & Palm Desert

$1,895,000

$1,482,500

574

64

88

97

Balanced

CA

Sacramento

$775,000

$719,500

851

421

372

11

Seller's

CA

San Diego

$2,195,000

$1,600,000

1,368

480

287

29

Balanced

CA

San Francisco

$4,300,000

$3,210,000

73

25

45

13

Seller's

CA

Santa Barbara

$3,472,500

$2,777,500

254

71

24

40

Buyer's

CA

Silicon Valley

$4,562,000

$3,040,000

220

131

203

9

Seller's

CO

Boulder

$1,795,000

$1,409,950

229

92

70

50

Seller's

CO

Denver

$975,000

$850,000

1,123

476

521

9

Seller's

CO

Vail

$4,250,000

$3,940,000

125

20

4

574

Buyer's

DC

Washington D.C.

$3,500,000

$3,680,000

68

20

8

14

Buyer's

FL

Boca Raton & Delray Beach

$1,995,000

$1,640,000

638

98

56

118

Buyer's

FL

Greater Fort Lauderdale

$1,282,500

$970,000

1,628

308

156

82

Buyer's

FL

Jacksonville Beaches

$1,399,900

$950,930

85

22

11

122

Buyer's

FL

Miami

$1,384,000

$1,027,500

1,402

249

94

96

Buyer's

Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

FL

Naples

$1,850,000

$1,672,500

1,238

141

156

69

Buyer's

FL

Palm Beach Towns

$3,112,500

$2,750,000

374

55

31

97

Buyer's

FL

Sarasota & Beaches

$1,695,000

$1,386,250

543

83

52

112

Buyer's

GA

Atlanta

$1,183,000

$1,009,500

1,436

387

190

26

Buyer's

HI

Maui

$3,325,000

$2,200,000

202

24

15

210

Buyer's

IL

Chicago

$1,249,000

$1,022,500

1,990

699

354

56

Balanced

MA

Greater Boston

$2,950,000

$2,520,000

147

40

29

21

Balanced

MD

Montgomery County

$1,792,878

$1,450,000

452

144

99

13

Seller's

MI

Oakland County

$749,900

$620,000

1,234

514

211

22

Balanced

MO

St. Louis

$769,500

$651,548

234

90

44

10

Balanced

NC

Raleigh-Durham

$725,000

$680,000

1,054

294

251

3

Seller's

NV

Las Vegas

$749,945

$620,000

1,348

457

331

28

Seller's

NY

Brooklyn

$1,500,000

$1,325,000

188

46

13

76

Buyer's

NY

Long Island

$1,490,000

$1,222,500

3,548

1,040

303

78

Buyer's

NY

Staten Island

$1,200,000

$1,082,000

181

43

12

47

Buyer's

ON

Toronto

$3,299,000

$3,108,000

511

336

81

8

Balanced

TN

Nashville

$983,972

$913,000

377

165

85

10

Seller's

TX

Austin

$1,004,950

$815,000

882

306

232

16

Seller's

TX

Collin County

$711,242

$677,500

1,048

356

159

36

Balanced

TX

Dallas

$1,064,500

$938,625

848

254

184

18

Seller's

TX

Houston

$839,000

$735,000

2,067

671

349

43

Balanced

TX

The Woodlands & Spring

$751,743

$719,000

613

192

90

45

Buyer's

UT

Park City

$2,950,000

$2,531,000

245

42

25

143

Buyer's

VA

Fairfax County

$1,600,000

$1,450,000

621

173

103

17

Balanced

WA

Seattle

$1,642,500

$1,500,000

212

149

157

8

Seller's

Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

AB

Calgary

$829,900

$818,500

368

162

36

53

Buyer's

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$695,000

$575,000

151

31

33

63

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Vancouver

$1,971,500

$1,670,000

780

385

91

12

Buyer's

BC

Victoria

$860,000

$781,500

203

117

50

12

Seller's

CA

Los Angeles Beach Cities

$1,549,500

$1,435,000

84

41

36

10

Seller's

CA

Los Angeles City

$1,690,000

$1,180,000

291

120

71

26

Seller's

CA

Los Angeles The Valley

$684,950

$681,888

128

77

71

45

Seller's

CA

Marin County

$1,250,000

$1,192,500

22

9

10

28

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,075,000

$901,990

463

199

149

19

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,100,000

$887,000

480

211

148

24

Seller's

CA

San Francisco

$2,900,000

$2,307,000

99

40

49

14

Seller's

CA

Santa Barbara

$1,645,000

$1,360,000

40

12

6

11

Balanced

CA

Silicon Valley

$1,475,000

$1,450,000

71

68

134

9

Seller's

CO

Boulder

$879,000

$830,000

69

26

11

36

Balanced

CO

Denver

$689,450

$642,500

446

180

212

8

Seller's

CO

Vail

$2,925,000

$4,938,250

70

5

6

347

Buyer's

DC

Washington D.C.

$1,749,900

$1,725,000

177

68

50

10

Seller's

FL

Boca Raton & Delray Beach

$849,500

$872,500

383

64

45

79

Buyer's

FL

Greater Fort Lauderdale

$869,000

$812,500

1,198

186

76

69

Buyer's

FL

Jacksonville Beaches

$1,060,000

$1,093,750

25

4

8

31

Seller's

FL

Miami

$999,000

$875,000

2,791

422

79

142

Buyer's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.

– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name

Median List Price

Median Sold Price

Inventory

New Listings

Sold

Days on Market

Market Status

FL

Naples

$1,995,000

$1,995,000

294

41

51

65

Balanced

FL

Palm Beach Towns

$1,495,000

$1,325,000

213

28

20

98

Buyer's

FL

Sarasota & Beaches

$1,189,500

$1,190,000

228

24

36

52

Balanced

GA

Atlanta

$689,000

$595,000

523

148

75

39

Buyer's

HI

Maui

$1,699,000

$1,595,000

137

22

23

143

Balanced

IL

Chicago

$1,200,000

$950,000

939

341

174

39

Balanced

MA

Greater Boston

$2,497,000

$2,007,000

248

105

50

28

Balanced

MD

Montgomery County

$799,149

$671,900

190

61

74

19

Seller's

MI

Oakland County

$806,950

$575,000

66

15

9

14

Buyer's

MO

St. Louis

-

-

-

-

-

-

-

NC

Raleigh-Durham

-

-

-

-

-

-

-

NV

Las Vegas

-

-

-

-

-

-

-

NY

Brooklyn

$995,000

$984,950

65

20

4

62

Buyer's

NY

Long Island

$925,000

$920,000

293

88

19

58

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

Toronto

$1,299,900

$1,125,000

377

328

173

10

Seller's

TN

Nashville

$725,500

$590,000

113

33

46

4

Seller's

TX

Austin

$749,950

$720,000

210

56

37

39

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$775,000

$723,250

213

66

28

35

Buyer's

TX

Houston

$639,450

$632,000

230

82

32

62

Buyer's

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,095,000

$2,757,950

151

19

16

122

Buyer's

VA

Fairfax County

$699,950

$679,500

136

64

73

7

Seller's

WA

Seattle

$1,299,950

$972,500

113

44

53

9

Seller's

Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.

Luxury is in each detail.

Hubert de Givenchy

PALM SPRINGS & PALM DESERT

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | MAY 2018 Inventory

Sales

Luxury Benchmark Price 1: $1,015,000 $5,000,000+ $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999

$3,000,000 - $3,499,999

60

1 12

0

12

0

Total Sales Ratio2: 15%

29

1

58

6

30

6

35

5

$1,750,000 - $1,999,999

59

11

$1,500,000 - $1,749,999

47

12

21

6

$1,300,000 - $1,399,999

48

7

$1,200,000 - $1,299,999

51

13

$1,100,000 - $1,199,999 $1,015,000 - $1,099,999

Balanced Market

24

$2,250,000 - $2,499,999

$1,400,000 - $1,499,999

Total Sales: 88

1

$2,500,000 - $2,999,999

$2,000,000 - $2,249,999

Total Inventory: 574

58

13

30

6

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,327,500

4

NA

10

52

19%

3,000 - 3,999

$1,247,500

4

NA

30

144

21%

4,000 - 4,999

$1,575,000

4

NA

33

157

21%

5,000 - 5,999

$2,150,000

4

NA

11

83

13%

6,000 - 6,999

$2,975,000

5

NA

3

48

6%

7,000+

$2,500,000

5

NA

1

87

1%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

PALM SPRINGS & PALM DESERT

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,639,500 $1,397,500

337

$1,355,000

May-17

61

45

Jun-17

Jul-17

$1,392,500

28

31

Aug-17

Sep-17

$1,525,000

651

523

408

344

319

317

62

$1,420,000

$1,346,589

Inventory

38 Oct-17

$1,467,500

Solds

$1,615,000

722

630

35

40

Nov-17

Dec-17

$1,625,000

$1,450,000

713

41

Jan-18

707

$1,575,000

656

64

70

Feb-18

Mar-18

$1,482,500

574

94 Apr-18

88

May-18

MEDIAN DATA INVENTORY April

May

656

SOLDS April

SALES PRICE May

574 VARIANCE: -13 %

88 VARIANCE: -6 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

April

May

403

$

390 VARIANCE: -3 % $

94

April

May

96.11% 94.80% VARIANCE: -1 %

April

1.58m

$

May

1.48m VARIANCE: -6 % $

DAYS ON MARKET April

May

72

97 VARIANCE: 35 %

PALM SPRINGS & PALM DESERT MARKET SUMMARY | MAY 2018 • The Palm Springs & Palm Desert single-family luxury market is a Balanced Market with a 15% Sales Ratio.

• Homes sold for a median of 94.80% of list price in May 2018.

• The most active price band is $1,400,000-$1,499,999, where the sales ratio is 29%.

• The median luxury sales price for single-family homes has decreased to $1,482,500.

• The median days on market for May 2018 was 97 days, up from 72 in April 2018.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

Thank you for taking time to view this report.

For more information about this report and the services I can offer you and your luxury property, please give me a call at 310.383.2466.

- Lucio Bernal

LUCIO BERNAL

310.383.2466 | Lucio.Bernal@camoves.com | www.BernalSmithGroup.com