Kevin Stern / Town Real Estate
La Quinta, CA
Single-Family Homes
www.TownCA.com | 760-250-1977 | kevin@kevinstern.com | CalDRE #01376548
La Quinta, CA
Tue Dec 03 2024
This week the median list price for La Quinta, CA is $1,012,990 with the market action index hovering around 29. This is less than last month's market action index of 31. Inventory has increased to 413.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyers market, this price trend may be a result of improved quality of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
Real-Time Market Profile
| Median List Price | $1,012,990 | |
| Median Price of New Listings | $919,950 | |
| Per Square Foot | $439 | |
| Average Days on Market | 93 | |
| Median Days on Market | 56 | |
| Price Decreased | 37% | |
| Price Increased | 2% | |
| Relisted | 13% | |
| Inventory | 413 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,990,000 | 4,370 | 0.25 - 0.5 acre | 4 | 4.5 | 18 | 9 | 5 | 49 |
| $1,355,000 | 2,811 | 8,000 - 10,000 sqft | 3 | 3.5 | 21 | 5 | 7 | 56 |
| $810,000 | 2,179 | 6,500 - 8,000 sqft | 3 | 2.5 | 20 | 9 | 9 | 56 |
| $586,500 | 1,555 | 4,500 - 6,500 sqft | 3 | 2 | 29 | 9 | 11 | 66 |