La Quinta CA Real Estate Market Trends

"What's the market doing?" That's the number one question we hear everyday! So, we're really excited about this new market research tool from Altos Research we can offer our clients to share what's happening, by city or zipcode, that auto updates with the latest data every 7 days.  Even if you're reading this after it posted, these charts are "live" and update weekly...so the data is very current. 

When you look at the Median Price chart for La Quinta, you'll see four colored graphs...one for each 25% of the market.

• The black graph represents the most expensive 25% of properties listed
• The orange graph represents upper middle 25% of properties listed
• The green graph represents the lower middle 25% of properties listed
• The blue graph represents the least expensive 25% of homes listed on the market

Median price means that half the homes in that quartile of the market are listed for more than that price, and half are listed for less. The average list price is less helpful, because a few homes with very high or very low list prices easily skew the picture. It's important to understand what's happening in each section of the market, because what matters to you is what's happening in the market segment where you want to buy or sell.


As you would probably expect, in La Quinta, the highest priced homes take longer to sell than those in the lowest priced categories.  Take a look at the chart to see number of days on the market by price.



Here's the median price per sq ft, for each price quartile of the market.  If you're comparing homes in a neighborhood though, you have to keep in mind that larger homes will often have a lower price per square foot than smaller homes, because the most expensive part of every home is the kitchen, and spreading that cost over a larger home naturally reduces the cost per sq ft.


Finally, the Median Market Action Index gives you an at-a-glance answer to the question, "How's the market?" The higher the Index goes, the hotter the market. Like a thermometer, the measurable scale goes from zero to over 100. Altos Research sets a threshold at an index value at 30 above which demand is high enough to call a "Seller's Market" and below which is a "Buyer's Market." In the following chart, we measure the Market Action Index in the La Quinta market's four quartiles.



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