SCPD 2017 In Review / 2018 Prospectus

    All the happenings that 2017 brought us both nationally and abroad were a bit overwhelming at times. Trying to keep up with the daily news (or fake news, depending on your political leaning) cycles covering tweets, nukes and hermit kingdoms was nearly impossible. No doubt this is an incredibly important time for our economy and our nation, but the year left me feeling a bit battered and off balance like I just disembarked from a rough week at sea.

    One thing that is hard to debate is the health of the US economy according to key economic indicators. According to the average estimate of 52 economists surveyed by Wolters Kluwer Blue Chip Economic Indicators in early December, GDP growth is to remain between 2-3% in 2018, while consumer spending and industrial production are to increase 2.5%. Growth in business investments is also to increase by 4.5%. All the while unemployment is projected to inch down from 4.1%, and the Dow is above 26,000 today (1/17/18). All indicators seem to point to a healthy and robust economy in 2018.

     

    Has the momentum of the economy translated to a positive outlook on home prices in Sun City Palm Desert? The number of units sold and median home prices in SCPD both increased approx. 5% (to 383 units & $335,000 respectively), while days on the market decreased about a week to 90 days. If the inventory stays consistently low as it has the last several months (currently 73, as of 1/17/18) we can expect a significant increase in home prices in 2018.

     

    The table below shows all homes sold in 2017 with a complete breakdown by model. The Jelmberg Team would like to note that picking a price from this data alone may cause issue with the sale or purchase of a home and cautions clients to get a full Comparative Market Analysis (CMA) done by a real estate professional prior to settling on a price point for a home.

     

    Golf Course Green Belt Privacy Total
    Row Labels # of Homes Avg. Sale Price Units w/ Pool Avg. Sale Price w/ Pool # of Homes Avg. Sale Price Units w/ Pool Avg. Sale Price w/ Pool # of Homes Avg. Sale Price Units w/ Pool Avg. Sale Price w/ Pool
    Amethyst 1 $365,000 $2 $263,500 1 $269,000 4
    Antigua 4 $294,500 4
    Baccarat 2 $375,000 12 $287,000 14
    Barbados 12 $265,401 1 $240,000 13
    Casablanca 1 $299,000 1
    Cayman 1 $420,000 8 $301,938 1 $369,000 10
    Christofle 3 $256,000 3
    Custom 1 $235,000 1
    Dublin 1 $288,273 1
    Emerald 2 $397,000 3 $402,467 5
    Fostoria 2 $290,000 1 $424,000 3
    Gorham $2 $226,500 6 $225,650 8
    Hummel $1 $215,000 4 $260,725 5
    Jensen 1 $275,000 2 $291,250 3
    Lalique 4 $307,875 4
    Lanai $3 $240,333 14 $251,357 17
    Lenox 1 $339,000 3 $332,333 1 $283,000 5
    Marquis 2 $515,000 1 $489,000 $1 $435,000 2 $381,000 1 $435,000 7
    Marrakech 3 $352,500 1 $375,000 4
    Marseille 2 $715,750 1 $847,500 1 $580,000 1 $590,000 5
    Maui 3 $233,333 3
    Monaco 4 $509,750 $1 $370,000 11 $407,350 3 $463,667 19
    Montego 2 $429,950 8 $337,313 2 $371,250 12
    Monterey 1 $649,500 1 $499,500 2
    Morocco 8 $436,250 1 $335,000 23 $340,561 3 $347,000 35
    N/A 1 $307,500 1
    Newport 5 $218,500 5
    Opal 1 $320,000 $1 $274,900 2 $228,750 4
    Orrefors 5 $354,200 1 $380,000 7 $281,286 1 $259,000 14
    Pasadena 13 $224,858 13
    Pave 1 $510,000 3 $428,333 2 $447,500 6
    Portofino 3 $651,333 5 $697,400 2 $461,500 1 $650,000 11
    Provence 1 $607,500 1 $670,000 2
    San Carlos 2 $342,500 1 $309,000 3
    San Remo 1 $600,000 2 $555,000 10 $400,200 3 $465,000 16
    Solitaire 2 $407,500 1 $480,000 4 $317,000 7
    Sonora 1 $405,000 1 $405,000 2
    St. Croix 10 $450,300 1 $460,000 1 $325,000 41 $346,523 2 $406,750 55
    St. Maarten 18 $291,171 3 $333,967 21
    St. Tropez 4 $555,000 1 $715,000 2 $481,370 1 $457,500 8
    Tangier 2 $402,500 2 $359,750 1 $269,000 5
    Topaz 1 $240,000 1
    Towle 1 $260,000 1 $236,000 3 $257,000 5
    Victoria 1 $450,000 6 $445,086 3 $495,000 10
    Villa 1 $196,000 1
    Waterford 4 $263,500 4
    Custom 1 $325,000 1
    Grand Total 56 17 12 1 260 37 383

     

     

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