Interesting results I wanted to share with you regarding Palm Springs Real Estate
Here are the statistics covering ONLY the cities of : Palm Springs Proper, Rancho Mirage, Palm Desert, Indian Wells, Sun City Dell Webb and La Quinta.
The numbers in the chart are showing the sales for April 2011 compared to October 2011. The table also shows the inventory in April compared to inventory up to date.
The total number of sales are 62% lower. This is “normal” because April would reflect the sales which happened during the month of March which is the height of the season while October shows the sales that happened during September which is still our low season.
What is important is that prices did not drop more than 1% which shows a stable market at the lower end.
On the other hand , in the high end market, the median price dropped almost 26% (but only 4 homes sold)
Inventory :There is 50% less inventory for condos below 200K and 14% less inventory for single family homes below 300K : so the lower end is selling fast
Percentage of distressed properties active : 30% at the lower end below 200K and only 5% at the higher end of the market
This season has already started strong, this is still a buyers’market – money is cheap out there.
Maybe some of your friends want to buy…let us know JJ
|
Total Sold April
|
Total Sold October
|
Distressed Properties
Sold April
|
Distressed Properties Sold Oct.
|
Median Price Sold
April
|
MedianPrice Sold
October
|
Total Active April
|
Total Active
Oct.
|
Distressed
Properties
ActiveNov.
|
% Distressed
inventory
|
Condos up to
200K |
108
|
79
|
47
|
39
|
125,000
|
114,000
|
785
|
393
|
119
|
30%
|
Condos 200K
and up |
129
|
39
|
8
|
5
|
285,000
|
280,000
|
576
|
877
|
50
|
5.7%
|
Single Family
up to 300K |
135
|
125
|
59
|
67
|
185,044
|
197,500
|
523
|
439
|
151
|
34%
|
Single Family
300K to 600K |
114
|
70
|
19
|
17
|
437,931
|
426,500
|
777
|
687
|
95
|
14%
|
Single Family
600K to 2M |
77
|
45
|
3
|
13
|
808,000
|
806,000
|
938
|
772
|
41
|
5.3%
|
Single Family
2M and up |
8
|
4
|
2
|
0
|
3,200,000
|
2,350,000
|
259
|
197
|
5
|
2.5%
|
Total |
569
|
362
|
121
|
141
|
|
|
3858
|
3365
|
|
|

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