Lucio Bernal - May 2018 Luxury Market Report

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 M AY 2 0 1 8

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 18-19 ATTACHED HOMES - Monthly Statistics

– LUXURY REPORT OVERVIEW – 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 bases. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth 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 A P R I L LUXURY REVIEW 2 0 1 8 The spring market has continued to charge forward with upward momentum with increases in new listings, sales, sale prices, and sales ratios. March saw near meteoric rises in some key indicators, and now April is reporting small increases from last month's figures. These smaller increases are in line with busy spring market expectations, however they continue to undermine predictions that 2018 would see a more level market.

April's luxury single-family market saw a 4.5% increase in new listings and a 13.2% increase in sales over March 2018. The attached luxury market increased 2.7% in new listings and 6.3% in sales. The median days on market for luxury single-family homes decreased from 43 days to just 31, which is the lowest median DOM recorded in the last 13 months. the days on market for attached luxury homes also decreased from 41 days to 33, which is also the lowest recorded DOM in 13 months.

Home sale prices have continued their stable trend with marginal increases -the single-family median sale price rose 1.1% and the attached median sale price rose 2.9%. It is interesting to point out that the single-family list price dropped 7.4%, time will tell if this will have a bearing on the market in the near future.

The sales ratios for April are on par with March, showing marginal increases between .5% and 1.5%, illustrating that on the whole, the luxury market is still a balanced market. This rise can easily be attributed to the traditionally busy spring market, though if increases continue over time, we will see a market shift in favor of sellers.

With small increases in key indicators on top of the significant rise in new listings last month, a question arises, are these increases part of a greater need to sell real estate holdings, an increased confidence from luxury real estate investors, or perhaps a stabilization of sales prices that invites a larger pool of investors?

Another consistent trend are the market types for individual luxury markets. April reported 12 seller's markets, 13 balanced markets, and 26 buyer's, about even from March. On the attached side, reports show 18 seller's markets, 6 balanced markets, and 16 buyer's markets. This indicates that there are few true luxury attached balanced markets but a near even split within individual markets provides us with the balanced average.

Locally in the luxury single family markets, Vancouver's median sale price rose 18% to $3,549,444 and the median sales price in LA-The Valley rose 9% to $1,916,000. In the local luxury attached home markets, the median sales price in Boca Raton/Delray beach rose 18% to $900,000 and Denver's median sales price rose 10% to $658,750.

For more information on a particular luxury market, please refer to its corresponding individual report where trends can vary depending on population, location, seasons, and other local factors.

– 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

40

53

49

46

61

60

51 43

41

39

43

59

56

56

42

37

40

35

44

44

44

37

43

42

31

41

33

20

0

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

$393

$397

$388

$357

$381

$382

$398

$389

$383

$387

$300

$387

$400

$573 $408

$560

$511

$558

$526

$543

$564

$527

$501

$523

$543

$528

$526

$500

$392

PRICE PER SQUARE FOOT

$600

$200

$100

$0

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAR

APR

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 $0

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

*Discrepancies between statistics published in the March 2018 and April 2018 Luxury Market Reports are due to the addition of Fort Lauderdale, FL and the revision to Chicago, IL.

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

SINGLE-FAMILY HOMES March

April

March

April

Median List Price

$1,790,756 $1,657,500

Total Inventory

35,461

36,941

Median Sale Price

$1,375,000 $1,390,000

New Listings

10,528

11,005

5,292

5,991

43

31

3,606

3,560

Median SP/LP Ratio

97.21%

97.72%

Total Sold

Total Sales Ratio

14.92%

16.22%

Median Days on Market

$393

$408

Median Price per Sq. Ft.

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





477

699

New Listings

Total Sold





12

1.3%

Med. Sale Price

Days on Market

Sales Ratio

15,000

$



SINGLE-FAMILY HOMES MARKET SUMMARY | APRIL 2018 •

Official Market Type: Balanced Market with a 16.22% Sales Ratio.1

•

Homes are selling for an average of 97.72% of list price.

•

The median luxury threshold2 price is $975,000 the median luxury home sale price is $1,390,000.

•

Markets with the Highest Median Sales Price: Vail ($5,716,250), San Francisco ($3,888,944), LA-Beach Cities ($3,875,000), and Vancouver ($3,549,444).

•

Markets with the Highest Sales Ratio: Silicon Valley (94%), Seattle (89%), San Francisco (51%), and Denver (47%).

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 March 2018 | April 2018

ATTACHED HOMES March

April

Median List Price

$1,119,250

$1,103,000

Median Sale Price

$925,000

$951,750

Median SP/LP Ratio

98.39%

Total Sales Ratio Median Price per Sq. Ft.

March

April

Total Inventory

11,951

12,225

New Listings

3,299

3,387

98.70%

Total Sold

2,075

2,205

17.36%

18.04%

Median Days on Market

41

33

$560

$573

2,102

2,067

Average Home Size

Median prices represent properties priced above respective city benchmark prices.





88

130

New Listings

Total Sold





8

0.68%

Med. Sale Price

Days on Market

Sales Ratio

26,750

$



ATTACHED HOMES MARKET SUMMARY | APRIL 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, the median attached luxury sale price is $950,000.

•

Markets with the Highest Median Sales Price: Vail ($3,324,500), Park City ($2,305,000), San Francisco ($2,300,000), and Greater Boston ($1,950,000).

•

Markets with the Highest Sales Ratio: Silicon Valley (274%), LA-The Valley (63%), LA-Beach Cities (59%), and Fairfax County (51%).

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

$1,149,450

$937,800

648

284

108

21

Balanced

AZ

Phoenix

$749,900

$622,500

890

243

164

53

Balanced

AZ

Scottsdale

$1,799,000

$1,390,000

1,394

174

136

111

Buyer's

AZ

Tucson

$750,000

$635,750

801

173

108

42

Buyer's

BC

Vancouver

$3,988,000

$3,549,444

1,411

497

72

31

Buyer's

BC

Victoria

$1,895,000

$1,355,000

333

144

45

23

Buyer's

CA

Los Angeles Beach Cities

$4,969,500

$3,875,000

396

134

69

40

Balanced

CA

Los Angeles City

$3,995,000

$2,800,000

751

252

136

49

Balanced

CA

Los Angeles The Valley

$2,192,000

$1,916,000

554

222

103

45

Balanced

CA

Marin County

$3,495,000

$3,077,500

139

47

34

24

Seller's

CA

Napa County

$2,850,000

$1,640,000

112

25

9

158

Buyer's

CA

Orange County

$2,375,000

$1,975,000

1,569

506

285

32

Balanced

CA

Palm Springs & Palm Desert

$1,349,000

$1,575,000

656

112

94

72

Buyer's

CA

Sacramento

$799,000

$704,107

671

327

305

11

Seller's

CA

San Diego

$2,199,995

$1,545,000

1,229

439

249

30

Balanced

CA

San Francisco

$4,385,000

$3,888,944

63

15

32

13

Seller's

CA

Santa Barbara

$3,800,000

$2,600,000

211

44

21

15

Buyer's

CA

Silicon Valley

$4,895,000

$3,100,000

185

117

174

9

Seller's

CO

Boulder

$1,975,000

$1,525,000

190

74

55

48

Seller's

CO

Denver

$1,025,000

$857,000

925

370

431

8

Seller's

CO

Vail

$4,425,000

$5,716,250

116

5

8

66

Buyer's

DC

Washington D.C.

$3,500,000

$2,850,000

63

31

10

22

Balanced

FL

Boca Raton & Delray Beach

$1,999,000

$1,431,000

640

99

42

60

Buyer's

FL

Greater Fort Lauderdale

$1,295,000

$900,000

1,603

319

148

62

Buyer's

FL

Jacksonville Beaches

$1,369,250

$997,603

76

16

11

0

Buyer's

FL

Miami

$1,399,000

$975,000

1,387

249

85

108

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

$1,744,000

1,324

163

158

59

Buyer's

FL

Palm Beach Towns

$3,047,500

$3,160,661

394

47

50

101

Buyer's

FL

Sarasota & Beaches

$1,657,500

$1,600,000

542

59

61

66

Buyer's

GA

Atlanta

$1,199,900

$927,500

1,398

431

162

20

Buyer's

HI

Maui

$3,300,000

$1,699,000

201

24

12

157

Buyer's

IL

Chicago

$1,282,450

$1,050,000

2,024

746

299

77

Buyer's

MA

Greater Boston

$2,995,000

$2,600,000

135

44

25

31

Balanced

MD

Montgomery County

$1,799,000

$1,379,000

415

141

71

12

Balanced

MI

Oakland County

$750,000

$590,000

1,028

384

153

20

Buyer's

MO

St. Louis

$799,950

$684,128

196

66

43

8

Seller's

NC

Raleigh-Durham

$725,000

$655,000

982

268

213

3

Seller's

NV

Las Vegas

$739,000

$635,000

1,209

379

267

30

Seller's

NY

Brooklyn

$1,488,500

$1,162,500

182

47

10

114

Buyer's

NY

Long Island

$1,497,000

$1,200,000

3,137

892

247

92

Buyer's

NY

Staten Island

$1,199,900

$969,000

163

54

15

65

Buyer's

ON

Toronto

$3,295,000

$3,112,500

425

260

80

10

Balanced

TN

Nashville

$950,000

$875,000

336

120

91

24

Seller's

TX

Austin

$1,095,000

$882,500

774

282

228

16

Seller's

TX

Collin County

$708,375

$667,500

902

286

126

25

Buyer's

TX

Dallas

$1,145,000

$830,000

788

282

154

25

Balanced

TX

Houston

$845,000

$750,000

1,876

618

309

39

Balanced

TX

The Woodlands & Spring

$775,000

$692,450

543

188

65

91

Buyer's

UT

Park City

$3,399,000

$2,577,000

237

28

21

128

Buyer's

VA

Fairfax County

$1,599,900

$1,436,650

577

211

72

31

Buyer's

WA

Seattle

$1,950,000

$1,520,000

140

67

125

7

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

$839,900

$800,250

296

107

40

31

Buyer's

AZ

Phoenix

-

-

-

-

-

-

-

AZ

Scottsdale

$680,000

$595,000

159

27

41

55

Seller's

AZ

Tucson

-

-

-

-

-

-

-

BC

Vancouver

$1,998,000

$1,754,900

642

338

82

11

Buyer's

BC

Victoria

$910,000

$750,000

135

79

40

14

Seller's

CA

Los Angeles Beach Cities

$1,575,000

$1,304,000

71

31

42

10

Seller's

CA

Los Angeles City

$1,699,000

$1,294,500

261

89

82

35

Seller's

CA

Los Angeles The Valley

$699,000

$680,000

111

62

70

34

Seller's

CA

Marin County

$1,222,500

$1,343,000

16

11

7

25

Seller's

CA

Napa County

-

-

-

-

-

-

-

CA

Orange County

$1,079,000

$925,000

378

162

129

18

Seller's

CA

Palm Springs & Palm Desert

-

-

-

-

-

-

-

CA

Sacramento

-

-

-

-

-

-

-

CA

San Diego

$1,127,000

$851,000

434

181

146

20

Seller's

CA

San Francisco

$2,817,500

$2,300,000

96

40

35

13

Seller's

CA

Santa Barbara

$2,000,000

$1,488,000

34

7

4

35

Buyer's

CA

Silicon Valley

$1,468,000

$1,450,000

43

40

118

9

Seller's

CO

Boulder

$859,500

$900,708

58

15

18

53

Seller's

CO

Denver

$700,000

$658,750

397

168

176

13

Seller's

CO

Vail

$3,037,500

$3,324,500

72

4

8

21

Buyer's

DC

Washington

$1,850,000

$1,575,000

150

74

45

7

Seller's

FL

Boca Raton & Delray Beach

$850,000

$900,000

406

62

52

47

Buyer's

FL

Jacksonville Beaches

$859,900

$770,000

1,201

185

97

90

Buyer's

FL

Miami

$1,295,000

$933,500

31

2

3

39

Buyer's

FL

Jacksonville Beaches

$995,000

$1,000,000

2,730

282

85

170

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

$2,000,000

$1,710,000

332

26

30

74

Buyer's

FL

Palm Beach Towns

$1,399,500

$1,360,000

234

29

27

84

Buyer's

FL

Sarasota & Beaches

$1,177,500

$1,100,000

228

39

34

66

Buyer's

GA

Atlanta

$699,000

$615,000

495

120

70

41

Buyer's

HI

Maui

$1,689,000

$1,680,000

133

13

25

158

Balanced

IL

Chicago

$1,249,839

$970,000

910

333

169

58

Balanced

MA

Greater Boston

$2,399,000

$1,950,000

215

72

51

26

Seller's

MD

Montgomery County

$849,900

$700,000

183

75

61

8

Seller's

MI

Oakland County

$934,500

$596,100

64

15

10

24

Balanced

MO

St. Louis

-

-

-

-

-

-

-

NC

Raleigh-Durham

-

-

-

-

-

-

-

NV

Las Vegas

-

-

-

-

-

-

-

NY

Brooklyn

$964,000

$1,165,000

64

26

5

99

Buyer's

NY

Long Island

$928,944

$905,250

254

69

20

108

Buyer's

NY

Staten Island

-

-

-

-

-

-

-

ON

Toronto

$1,288,000

$1,159,000

318

296

151

8

Seller's

TN

Nashville

$711,950

$607,500

102

36

12

23

Buyer's

TX

Austin

$750,000

$636,750

179

48

34

24

Balanced

TX

Collin County

-

-

-

-

-

-

-

TX

Dallas

$699,000

$632,500

203

47

34

49

Balanced

TX

Houston

$620,000

$619,250

217

68

34

100

Balanced

TX

The Woodlands & Spring

-

-

-

-

-

-

-

UT

Park City

$2,035,000

$2,305,000

156

6

15

70

Buyer's

VA

Fairfax County

$699,950

$650,000

132

75

67

5

Seller's

WA

Seattle

$1,474,950

$992,500

85

28

36

10

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 | APRIL 2018 Inventory

Sales

Luxury Benchmark Price 1: $1,015,000 $5,000,000+

0

$4,500,000 - $4,999,999

0 0

Total Inventory: 656

$4,000,000 - $4,499,999

0 0

Total Sales: 94

$3,500,000 - $3,999,999

0

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

0

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

0

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

0 0

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

0

3

Buyer's Market

3

Total Sales Ratio2: 14%

4 8

8

$1,750,000 - $1,999,999 $1,500,000 - $1,749,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999

$1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,015,000 - $1,099,999

76

12

108

12

60

6

100

9

128

10

130

10

54

9

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,267,500

3

NA

12

116

10%

3,000 - 3,999

$1,289,657

4

NA

32

284

11%

4,000 - 4,999

$1,800,000

4

NA

29

196

15%

5,000 - 5,999

$2,675,000

4

NA

14

44

32%

6,000 - 6,999

$2,500,000

4

NA

5

10

50%

7,000+

$5,850,000

4

NA

2

2

100%

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

Inventory

$1,639,500 $1,422,500

340

$1,397,500

337

$1,355,000

68

62

Apr-17

May-17

61

Jun-17

45

Jul-17

$1,392,500

28

31

Aug-17

Sep-17

$1,525,000

$1,467,500

651

523

408

344

319

317

$1,420,000

$1,346,589

38 Oct-17

Solds

$1,625,000

$1,615,000

722

630

35

40

Nov-17

Dec-17

713

41

Jan-18

$1,450,000

707

$1,575,000

656

64

70

94

Feb-18

Mar-18

Apr-18

MEDIAN DATA INVENTORY March

April

707

SOLDS March

SALES PRICE April

656 VARIANCE: -7 %

94 VARIANCE: 34 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

March

$

April

398

403 VARIANCE: 1 % $

70

March

April

94.21%

96.11% VARIANCE: 2 %

March

1.45m

$

April

1.58m VARIANCE: 9 % $

DAYS ON MARKET March

April

97

72 VARIANCE: -26 %

PALM SPRINGS & PALM DESERT MARKET SUMMARY | APRIL 2018 • The Palm Springs & Palm Desert single-family luxury market is a Buyer's Market with a 14% Sales Ratio.

• Homes sold for a median of 96.11% of list price in April 2018.

• The most active price band is $1,015,000-$1,099,999, where the sales ratio is 17%.

• The median luxury sales price for single-family homes has increased to $1,575,000.

• The median days on market for April 2018 was 72 days, down from 97 in March 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

P ALM SP R I NGS&P ALM DESER T

P ALM SP R I NGS&P ALM DESER T

P ALM SP RI NGS&P ALM DESERTMARKETSUMMARY|AP RI L201 8 ThePal m Spr i ngs& Pal m Deser tat t achedl uxur yi saBuyer ’ sMar ketwi t ha1 0% Sal esRat i o.

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