Is La Quinta, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, La Quinta has remained a Seller's Market.
Key Takeaway
La Quinta is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in La Quinta, CA
How much do homes in La Quinta, CA cost?
Median Sold Price
$791,942
$392/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in La Quinta have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in La Quinta was $791,942 in May 2024, up 2.3% from last year, and the median price per square foot was $392.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $322K | +0.6% |
| 2 Bedrooms | $545K | $547.5K | 0.5% |
| 3 Bedrooms | $750K | $775K | +3.3% |
| 4 Bedrooms | $1.2M | $1.4M | +13.1% |
| 5+ Bedrooms | $2.7M | $2.8M | +1.5% |
Summary: La Quinta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Indian Wells | $1.0M | $1.2M | +19.9% |
| La Quinta | $773.9K | $791.9K | +2.3% |
| Cathedral City-Palm Desert | $668.2K | $674.1K | +0.9% |
| Indio | $540.7K | $530.1K | -1.9% |
| Coachella Valley | $580.2K | $569.1K | -1.9% |
Housing Supply in La Quinta, CA
How many homes are available in La Quinta, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 576 | 578 | 0.3% |
Summary: The La Quinta real estate market had 578 homes for sale in May 2024, a 0.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 14 | 0.0% |
| 2 Bedrooms | 70 | 63 | -10.0% |
| 3 Bedrooms | 319 | 325 | +1.9% |
| 4 Bedrooms | 142 | 144 | +1.4% |
| 5+ Bedrooms | 31 | 32 | +3.2% |
Summary: The La Quinta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 3.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 122 | 132 | +8.2% |
Asking Price vs. Sold Price
93 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in La Quinta, you may be able to get a good deal. 70.5% of homes here sold below asking price last month.
Summary: A total of 132 homes were sold or pending in La Quinta in May 2024, up by 8.2% month-over-month. Of the 132 sold homes, 70% were sold under asking, 18% were sold at asking, and 11% were sold over asking.
Days on Market for La Quinta, CA
How long does it take to sell a home in La Quinta, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 66 Days | +10.6% |
Summary: Homes in La Quinta had an average of 66 days on market in May 2024, up by 10.6% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
66 Homes Were Sold
In 30 - 90 Days
34 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in La Quinta has remained consistent over time.
Summary: During May 2024, 132 homes were sold in La Quinta; 24% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.