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PALM DESERT - Bighorn Properties had more than $127 million in sales so far this year, topping first-quarter sales in each of the past two years.
Most of the 28 homes that sold were priced at or over $5 million, though properties at the Palm Desert golf course start around $2 million.
Officials credit the continued influx of Canadian buyers as well as a number of current residents who have upgraded to new homes in the upscale development.
"It's been really good up there," said Coldwell Banker agent Joy Goodall, who closed a $9.7 million cash deal last month.
Bighorn's success is yet another indication the Coachella Valley's luxury market continues to hold ground during this housing slump.
Luxury sales made up 9 percent of all local home sales last year.
Valley real estate experts report 116 homes priced above $1 million sold on the Desert Area Multiple Listing Service during the first quarter compared to 155 during the same period last year. But those figures don't include high-end homes that weren't sold on the public listing.
Several members of the Desert Estates Network, a group of 18 Realtors who specialize in high-end homes, say this year has been better than first quarter 2007.
Officials say that's partly because economic and market downturns don't impact higher-end clients as much.
Since 1990, Bighorn has recorded $1.8 billion in sales.
"The upscale real estate market, if done right, has proven to be valuable and desirable," Bighorn chairman R.D. Hubbard said in a statement.
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