Sales for residential properties priced at $1 million or more held pretty steady in 2015 in comparison to 2014, with a slight decrease from 500 to 488 in the valley's main luxury-property cities: Palm Springs, Rancho Mirage, Palm Desert, Indian Wells, and La Quinta. As is usually the case, when "snowbird season" arrives, the luxury residential market ignites from January through June, before the weather heads into the hotter months, and 2015 was no exception.
These are the results for million-dollar sales in 2015:
#1 La Quinta
153 total sales (149 total sales in 2014, with 106 in first 6 months)
96 total sales from 1/1/15 - 6/30/15
57 total sales from 7/1/15 - 12/31-15
Highest Sale: $6.35m
39 sales over $2m
78 sales over $1.5m
75 sales from $1m - 1.5m
# 2 Palm Springs
118 total sales (100 total sales in 2014, with 52 in first 6 months)
66 total sales from 1/1/15 - 6/30/15
52 total sales from 7/1/15 - 12/31/15
Highest Sale: $3.069m
5 sales over $2m
36 sales over $1.5m
77 sales from $1m - $1.5m
# 4 Indian Wells
#5 Palm Desert
Some interesting takeaways to keep in mind as we head into the 2016 high season for Coachella Valley luxury real estate:
- Most desert cities drastically fell off in million dollar sales in the second half of the year, but Palm Springs for the second year in a row boasted strong sales in the second half.
- Palm Springs showed the most improvement in total million dollas sales from 2014 to 2015, increasing to 118 from 100, and except for La Quinta, the other desert cities in these findings all decreased from 2014 to 2015.
- For the second year in a row, Palm Desert sold million dollar proeprties nearly at a 3:1 ratio from the first half of the year to the second half.
- There was quite a dropoff in residential sales $2m and over from 94 in 2014 to 73 in 2015, a 22% decrease.
For any questions or comments, please visit www.mikeandmariahomes.com
Which Desert City Had The Most Million Dollar Sales in 2015?
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