Coachella Valley Luxury Market Summary

by Brian Piper

Prices: The FLC Luxury Price Index, which represents the average price of a 4,500 square foot home in fifteen of the top luxury country clubs, ended November at $3,792,054 up $43,626 for the month and 2.5% year over year. In the individual country clubs, average gains ranged from 16.6% for Thunderbird Heights Hills down to -10.6% for the Movie Colony.

Sales: In November, luxury sales averaged 16.2 units per month, down 22% from last year. Dollar sales of Luxury homes over the last three months averaged $37 million a month versus $38 million last year, down 2.6%.

Inventory: Total inventory in the fifteen luxury country clubs at the end of November rose 19 units to 100. This is 10% higher than last November. The “months of sales” ratio was 6.1 months compared to 4.5 months a year ago.

Market: In November, the average “Days in the Market” for luxury homes was 71 days compared to 49 days a year ago. Average days continue to be far less than the pre pandemic average of 120 days. By Country Club, the numbers range from zero days in the El Dorado Country Club to 210 days in the Vintage Country Club.

Discount/Premium: In November, luxury homes sold at an average discount of 3.7% compared to a discount of just .8% a year ago. The numbers range from a discount of 0% in El Dorado Country Club to an average discount of 14.9% in The Madison.