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Indian Ridge CC 2005 2nd Quarter Report

Dear Indian Ridge Resident:

Enclosed is the 2nd Quarterly Report on Home Sales in Indian Ridge for 2005. Again we have seen an active quarter. There were 66 homes sold during the 2nd quarter of 2004. As you can see, the same quarter for 2005, 52 homes sold, down 21.2% from last year. Note the percent difference in sales price between the two quarters, a 40.2% increase for Condos and a 30.3% for PUD homes. The average number of homes on the market in Indian Ridge remain between 17 and 28 which is lower than average. For the first 2 quarters of 2004, 105 homes were sold; for 2005 the total is 85, down 19%.

For Palm Desert zipcode 92211, there were 135 homes sold in April of 2005, a decrease of 37.5% since last April and a price median of $455,000 which is up 34.7%. The median price per square foot is $266, an increase of 29.7% from April of 2004.

The median price of a home in the Coachella Valley in May was $385,000, up from the March record of $364,000 indicating the continued demand for properties in the desert.

According to Data Quick, May median home prices show the valley still well below those of neighboring communities:

          Los Angeles County         $459,000       up 16.5% from a year ago
          Orange County                $590,000       up  8.7% from a year ago
          San Diego County            $488,000       up  7.5% from a year ago
          Ventura County               $569,000       up 15.7% from a year ago

Of all homes sold in the desert from April 1, 2004 through March 31, 2005, Palm Desert ranked secnd to Palm Springs with 2590 homes sold. There were 1201 homes sold in the desert priced over $750,000. The largest quarter remains the 2nd quarter ini home sales with the average sales price having increased 30.5%.

Agent information from Data Quick shows individual agents represent both buyer and seller as principals in the same transaction as only 6% to 8% of the time. The top 22 agents in the desert each sell $34.1 millionor more per year. My total sales to date for 2005 alone is $33,656,800 making me a top agent in the desert.

If you are thinking of selling your home, please call me as I have a long list of clients waiting to purchase a specific floor plan. As a full-time resident and equity golf member of Indian Ridge, I take my profession seriously and put my clients' best interests first.

Have a wonderful summer,

Diane Williams, GRI
Associate Broker/Premier Director
Windermere Real Estate