Browse down this page to see the Charts with monthly sales data covering the cities of Palm Springs, Rancho Mirage, Palm Desert, La Quinta, Indian Wells and Sun City Palm Desert. Those are the cities Claudine and Alvin traditionally cover, selling and listing properties . The numbers in green show an improvement in comparison to the control number given for that specific chart.
End of April 2016 : comparing year over year condos and single family homes by price range -for the cities listed above – See the chart below
With an inventory 18% larger than last year at this time, we can confirm that WE ARE IN A BUYER’S MARKET. Prices for condos came down across the valley but prices for Single Family Homes are all up (in the green) . As agents this is what we experienced all season : The “snowbirds” and the Canadian buyers are not on the map and that is the main reason for the numbers we are seeing. On the other hand the people “moving” to our area are the ones buying and impacting prices. The market is indeed different. Investors, IT IS THE TIME FOR YOU TO MAKE YOUR MOVE
| Cities | Median Price condos | Total condos sold | MedianPrice single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs 2015 | $206,000 | 108 | $550,000 | 115 | 223 | 765 | 97.8% |
| May 2016 | $244,700 | 94 | $576,100 | 90 | 184 | 912 | 96.90% |
| Rancho Mirage 2015 | $290,000 | 33 | $575,000 | 49 | 82 | 597 | 95.1% |
| May 2016 | $269,900 | 35 | $632,000 | 50 | 85 | 660 | 94.84% |
| Palm Desert 2015 | $292,000 | 77 | $346,500 | 76 | 153 | 950 | 5.6% |
| May 2016 | $265,000 | 85 | $439,000 | 78 | 163 | 1031 | 95.30% |
| Indian Wells 2015 | $464,000 | 8 | $660,000 | 23 | 31 | 281 | 92% |
| May 2016 | $412,500 | 6 | $704,500 | 20 | 26 | 322 | 92% |
| La Quinta 2015 | $335,000 | 21 | $406,750 | 124 | 145 | 811 | 94.48% |
| May 2016 | $320,5000 | 24 | $478,000 | 119 | 143 | 1098 | 97.46% |
| Sun City 2015 | $338,000 | 36 | 36 | 144 | 97,45% | ||
| May 2016 | $323,000 | 31 | 31 | 150 | 95.83% | ||
| Total May 2015 | 247 | 423 | 670 | 3548 | |||
| Total May 2016 | 244 | 388 | 632 | 4173 |
End of February 2016 : comparing year over year – condos and single family homes by price range -for the cities listed above – See the chart below
All the numbers in red show a drop in selling prices across the board. The listing prices are showing in green (means prices up compared to last year) . So the sellers and their Realtors had their hopes up that this season would allow a price increase. Well, the reality is , price reductions happen everyday and this is the only way you can get showings and offers on the listings. On the other hand the inventory is higher and number of sales are up. That means buyers that figured it out ARE buying at lower prices.
The numbers confirm what the Realtors and the industry in the Desert are saying, mid-way into our season : This is a buyer’s market and we have not been here in a long time!! It is time to get off the fence!
Category Total Active Total Sold Median Price listed Median Price sold % Prices Listed/Sold
Condos up to 200K Feb 2015 219 48 $156,291 $148,000
February 2016 322 48 $144,575 $137,500 95%
Condos 200K/400K Feb 2015
725 77 $307,949 $293,760
February 2016 904 96 $310,928 $274,250 88%
Condos 400K + Feb 2015 298 26 $546,200 $516,038
February 2016 305 27 $567,400 $528,211 93%
House up to 300K Feb 2015
191 41 $240,650 $231,185
February 2016 192 55 $241,049 $226,867 94%
House 300K/600K Feb 2015 791 93 $447,340 $432,268
February 2016 932 109 $465,622 $427,500 91,8%
House 600K to 2M Feb 2015 1122 67 $1,075,097 $1,019,863
February 2016 1313 91 $1,054,444 $870,366 82.5%
House 2 M + Feb 2015 254 8 $3,284,850 $3,043,125
February 2016 327 10 $3,519,815 $3,167,815 89.9%
Totals February 2015 3600 379
Total February 2016 4295 436 90.57%
January 2016 : Comparing year over year per city prices-number of sales and inventory
It takes traditionally 30 to 45 days to “close escrow” (inspections, removal of contingencies and financing). So the chart will show the “closed transactions” (the ones that went under contract previous to January 1st, 2016) as well the “sales” (properties that went under contract after January 1st 2016 and still “in escrow”, commonly called “sales” ) That said here are the comments regarding our market during the first month of the season.
The numbers speak for themselves . We are in a “flat market” . Prices are steady and even a little up compared to the same time last year and the number of sales is also about the same. The only significant change is the inventory which is higher (20%) than last year and that is trending toward a buyer’s market.
| Cities | Average condos | Closed sales Condos | Average single family | Closed Sales Single Family | Closed Sales Total | New Sales | Today's Inventory |
|---|---|---|---|---|---|---|---|
| Palm Springs Jan 15 | $220,000 | 76 | $525,000 | 55 | 131 | 721 | |
| January 2016 | $218,500 | 59 | $637,000 | 63 | 122 | 216 | 930 |
| RanchoMirage Jan15 | $255,000 | 19 | $569,000 | 25 | 44 | 589 | |
| January 2016 | $259,600 | 13 | $751,500 | 36 | 49 | 93 | 688 |
| Palm Desert Jan 15 | $254,500 | 59 | $425,000 | 48 | 107 | 890 | |
| January 2016 | $269,500 | 49 | $487,700 | 53 | 102 | 137 | 1107 |
| Indian Wells Jan15 | $327,500 | 2 | $1,095,000 | 9 | 11 | 290 | |
| January 2016 | $446,000 | 4 | $839,600 | 12 | 16 | 32 | 332 |
| La Quinta January15 | $249,000 | 15 | $516,000 | 64 | 79 | 959 | |
| January 2016 | $306,500 | 17 | $789,000 | 55 | 72 | 170 | 1156 |
| Sun City January15 | $355,000 | 19 | 19 | 164 | |||
| January 2016 | $350,000 | 23 | 23 | 40 | 174 | ||
| Total January 15 | $261,200 | 171 | $580,850 | 220 | 391 | 3613 | |
| Total January 16 | $300,000 | 142 | $642,450 | 242 | 384 | 688 | 4387 |
September 2015: Comparing year over year per city-prices-number of sales and inventory
The inventory shows an increase of 25% – this is good news!
The prices for condos dropped about 20% except in Palm Springs Proper- more sales of lower priced condos skewed the numbers down
The prices for free standing homes increased about 7% in all the cities
The number of sales show an increase of over 25%
So more sales, more inventory, stable steady increase in prices puts us in a “healthy place” to start our season. NO crisis just a very stable market
| Cities | Median Price condos | Total condos sold | Median Price single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs 2014 | $219,000 | 70 | $559,000 | 52 | 122 | 468 | 98% |
| September 2015 | $220,000 | 89 | $581,287 | 50 | 139 | 636 | 96.83% |
| Rancho Mirage | $318,500 | 18 | $533,000 | 26 | 44 | 379 | 92.69% |
| September 2015 | $270,000 | 22 | $570,000 | 27 | 49 | 461 | 94.44% |
| Palm Desert | $249,500 | 40 | $329,000 | 30 | 70 | 631 | 95.64% |
| September 2015 | $250,000 | 45 | $418,950 | 42 | 87 | 761 | 98.03% |
| Indian Wells | $389,000 | 3 | $665,000 | 9 | 12 | 141 | 92% |
| September 2015 | $318,000 | 3 | $675,000 | 11 | 14 | 193 | 92% |
| La Quinta | $415,000 | 7 | $336,950 | 62 | 69 | 587 | 95.64% |
| September 2015 | $321,238 | 12 | $341,500 | 80 | 92 | 750 | 94,24% |
| Sun City | $320,000 | 15 | 15 | 91 | 98.74% | ||
| September 2015 | $270,000 | 29 | 29 | 109 | 95.46% | ||
| Totals | 318,580 | 138 | 457,360 | 194 | 332 | 2297 | |
| Total Sept. 2015 | $275,846 | 171 | $475,965 | 239 | 410 | 2910 |
Mid-May 2015 : comparing year over year , per city: prices, number of sales and inventory
The trend we were seeing in the middle of the season is continuing.
Inventory is higher by more than 20% year over year.
In general, prices have come down except for “Palm Springs Proper” (the city of Palm Springs) and Sun City Palm Desert that remains stable year over year.
| Cities | Median Price condos | Total condos sold | Median Price single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs 2014 | $205,000 | 88 | $467,000 | 82 | 170 | 597 | 93% |
| May 2015 | $206,750 | 108 | $550,000 | 115 | 223 | 765 | 97.08% |
| Rancho Mirage 2014 | $384,000 | 29 | $660,000 | 54 | 83 | 468 | 89% |
| May 2015 | $290,000 | 33 | $575,000 | 49 | 82 | 597 | 95.81% |
| Palm Desert 2014 | $275,000 | 77 | $395,500 | 80 | 157 | 764 | 92% |
| May 2015 | $292,000 | 77 | $346,500 | 76 | 153 | 950 | 95.06% |
| Indian Wells 2014 | $377,000 | 14 | $1.26 M | 22 | 36 | 213 | 86% |
| May 2015 | $464,450 | 8 | $660,000 | 23 | 31 | 281 | 92% |
| La Quinta 2014 | $375,000 | 22 | $600,000 | 107 | 129 | 735 | 90% |
| May 2015 | $335,000 | 21 | $406,750 | 124 | 145 | 811 | 94.48% |
| Sun City 2014 | $342,000 | 33 | 33 | 88 | 98% | ||
| May 2015 | $338,900 | 36 | 36 | 144 | 97.34% | ||
| Totals May 2014 | 323,400 | 230 | 621,166 | 375 | 608 | 2865 | |
| Total May 2015 | $317,640 | 247 | $480,525 | 423 | 670 | 3548 |
End of March 2015 : Market Update brought to us by The Palm Springs Regional Association of Realtors, the Association to which we belong 
I just received the “Market Watch Report” for our area that I would like to share with you. The numbers just confirm what I have been saying all along : The market IS STABLE. Only 2 cities in our valley saw a significant price change (increase) for the 2015 season. Palm Springs proper is ALWAYS on top of the list.
We have very few “distressed” properties in our area (foreclosures and short sales).
On the other hand the fact that many of our Canadian friends did not show up to buy real estate (or anything else by the way) has affected our market in the number of sales. Of course, less demand = no bidding wars and only a slight increase in the prices .
The majority of our buyers are now coming from California and the surrounding states (often just driving distance). We will be here all summer and available to show you properties.
End of February 2015 : Year over year comparison of prices and inventory. See the chart below
In general, inventory is higher : 2594 for 2014 versus 3600 for 2015
In general, Condo prices have slightly come down except on the low end where they remain stable.
Single Family home prices have gone up except for 2M and above where the listing prices came down.
The list price to selling price delta has not changed : 94.99% versus 94.89% . The sellers are holding to their price.
WE ARE IN A STABLE MARKET AND THIS IS GOOD FOR INVESTING IN REAL ESTATE
| Category | Total Active | Total Sold | Median Price listed | Median Price sold | % Prices Listed/Sold |
|---|---|---|---|---|---|
| Condos up to 200K February 2014 | 132 | 38 | $157,600 | $147,136 | 93.93% |
| February 2015 | 219 | 48 | $156,291 | $148,000 | 94.58% |
| Condos 200K to 400K February 2014 | 387 | 48 | $313,764 | $301,188 | 96.15% |
| February 2015 | 725 | 77 | $307,949 | $293,760 | 95.39% |
| Condos above 400K February 2014 | 208 | 18 | $620,056 | $598,806 | 96.53% |
| February 2015 | 298 | 26 | $546,200 | $516,.038 | 94.48% |
| Single Family up to300K February 2014 | 160 | 58 | $231,021 | $222,218 | 96.64% |
| February 2015 | 191 | 41 | $240,656 | $231,185 | 96.06% |
| Single Family 300K to 600K February 2014 | 633 | 92 | $440,110 | $427,339 | 97.63% |
| February 2015 | 791 | 93 | $447,340 | $432,268 | 96.03% |
| Single Family 600K to 2M February 2014 | 832 | 62 | $1,067,785 | $988,997 | 96.29% |
| February 2015 | 1122 | 67 | $1,075,897 | $1,019,963 | 94.80% |
| Single Family 2 M and over February 2014 | 242 | 11 | $4,226,273 | $3,777,727 | 89.65% |
| February 2015 | 254 | 8 | $3,284,850 | $3,043,125 | 92.66% |
| Totals February 2014 | 2594 | 389 | 94.99% | ||
| Total February 2015 | 3600 | 379 | 94.85% |
End of January 2015 : Year over year comparison median prices per cities, inventory per cities – see the chart below
The number of sales compared to January 2014 are 10% lower , our inventory is 10% higher.
Palm Springs Proper, as well as the 55+ Active Community of SunCity Del Webb in Palm Desert, is showing increase in prices . This describes exactly who are our main buyers : the California “mid-century homes lovers” (those are mainly found in Palm Springs Proper) and the retirees.
The % of selling price compared to listing price is still showing between 93% and 97% . So the sellers are still holding their prices.
This year is different from the past 5 years : our Canadians buyers have almost disappeared due to the drop of their dollar – almost 20% compared to the US dollar. Yes Canadians that bought up to last year are now laughing all the way to the bank!
So yes our market has changed in a way that our boomers, retirees, US residents second homes buyers are now our main source of business.
| Cities | Median Price condos | Total condos sold | Median Price single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs Jan 14 | $195,000 | 67 | $437,000 | 53 | 120 | 632 | 92% |
| January 2015 | $220,000 | 76 | $525,000 | 55 | 131 | 721 | 97.10% |
| RanchoMirage Jan14 | $337,000 | 26 | $679,000 | 37 | 63 | 544 | 93% |
| January 2015 | $255,000 | 19 | $569,000 | 25 | 44 | 589 | 94.15% |
| Palm Desert Jan 14 | $257,500 | 70 | $450,000 | 42 | 112 | 859 | 92% |
| January 2015 | $254,500 | 59 | $425,000 | 48 | 107 | 890 | 94.29% |
| Indian Wells Jan14 | $365,000 | 5 | $649,000 | 13 | 18 | 272 | 93% |
| January 2015 | $327,500 | 2 | $1,095,000 | 9 | 11 | 290 | 94% |
| La Quinta January14 | $353,500 | 16 | $590,000 | 86 | 102 | 877 | 94% |
| January 2015 | $249,000 | 15 | $516,000 | 64 | 79 | 959 | 92.29% |
| Sun City January14 | $339,000 | 27 | 27 | 90 | 102% | ||
| January 2015 | $355,000 | 19 | 19 | 164 | 96% | ||
| Total January 14 | $301,600 | 184 | $524,000 | 258 | 442 | 3274 | |
| January 2015 | $261,200 | 171 | $580,833 | 220 | 391 | 3613 |
End of October 2014 : The market report for this month is comparing inventory and number of sales from July 2014 through October 2014
We notice an 8% increase in inventory and an 8% decrease in number of sales. Now that is interesting!! The numbers do not lie. What is really interesting though is that the % of selling price to listing price is in the green. The sellers are now getting close to their asking price or they just are more open to listening to their realtors and accepting to list their homes at a realistic price. The sellers and their Realtors are anxious to see the season “pick up”, but the “snowbirds” are just beginning their migration.
| Category | Total Active | Total Sold | Median Price listed | Median Price sold | % Prices Listed/Sold |
|---|---|---|---|---|---|
| Condos up to 200K July 2014 | 223 | 56 | $148,926 | $142,488 | 95.72% |
| October 2014 | 224 | 67 | $154,151 | $146,216 | 94.85% |
| Condos 200K to 400K July 2014 | 476 | 96 | $302,075 | $290,029 | 96.65% |
| October 2014 | 595 | 69 | $286,282 | $268,430 | 95.33% |
| Condos above 400K July 2014 | 191 | 28 | $527,989 | $504,294 | 95.67% |
| October 2014 | 247 | 22 | $507,327 | $486,818 | 95.96% |
| Single Family up to300K July 2014 | 159 | 64 | $235,258 | $225,815 | 96.66% |
| October 2014 | 160 | 47 | $233,913 | $230,413 | 98.50% |
| Single Family 300K to 600K July 2014 | 514 | 139 | $445,387 | $429,941 | 96.77% |
| October 2014 | 677 | 99 | $436,789 | $423,781 | 97.02% |
| Single Family 600K to 2M July2014 | 631 | 84 | $1,005,939 | $945,592 | 95,11% |
| October 2014 | 793 | 63 | $916,621 | $875,479 | 95,11% |
| Single Family 2 M and over July 2014 | 134 | 9 | $3,001,556 | $2,563,289 | 86.45% |
| October 2014 | 186 | 2 | $2,735,000 | $2,521,250 | 92.18% |
| Totals July 2014 | 2328 | 476 | 94.71% | ||
| Total October 2014 | 2882 | 369 | 95.56% |
End of September 2014 – trying to compare the market at where it was at the end of May 2014, we are seeing a lot of numbers in red , the number of sales dropped significantly and the inventory as well. The % of selling price to listing price is the only number all in green. The sellers are not in a rush and unless they get their price they will wait for the season where more buyers will be around.
| Cities | Median Price condos | Total condos sold | Median Price single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs May | $205,000 | 88 | $467,000 | 82 | 170 | 597 | 93% |
| September 2014 | $219,000 | 70 | $559,500 | 52 | 122 | 468 | 98.29% |
| Rancho Mirage May | $384,000 | 29 | $660,000 | 54 | 83 | 468 | 89% |
| September 2014 | $318,500 | 18 | $533,500 | 26 | 44 | 379 | 92.69% |
| Palm Desert May | $275,000 | 77 | $395,500 | 80 | 157 | 764 | 92% |
| September 2014 | $249.500 | 40 | $329,000 | 30 | 70 | 631 | 95.64% |
| Indian Wells May | $377,000 | 14 | $1.26 M | 22 | 36 | 213 | 86% |
| September 2014 | $389,900 | 3 | $665,000 | 9 | 12 | 141 | 92% |
| La Quinta May | $375,000 | 22 | $600,000 | 107 | 129 | 735 | 90% |
| September 2014 | $415,000 | 7 | $336,950 | 62 | 69 | 587 | 95.64% |
| Sun City May | $342,000 | 33 | 33 | 88 | 98% | ||
| September 2014 | $320,200 | 15 | 15 | 91 | 98.74% | ||
| Totals May 2014 | 323,400 | 230 | 621,166 | 375 | 608 | 2865 | |
| Total Sept. 2014 | $318,580 | 138 | $457,360 | 194 | 332 | 2297 |
End of July – Middle of our summer – how is our Market doing compared to February middle of our season :Surprisingly enough there are a larger number of total sales : YES we are busy and the buyers are in town
The selling price to listing price is almost the same : the saying that sellers are “softer” in the summer is NOT showing in our market
Except for the high end properties the prices on average are above 95% of the asking price.
| Category | Total Active | Total Sold | Median Price listed | Median Price sold | % Prices Listed/Sold |
|---|---|---|---|---|---|
| Condos up to 200K February 2014 | 132 | 38 | $157,600 | $147,136 | 93,93% |
| July 2014 | 223 | 56 | $148,926 | $142.488 | 95.72% |
| Condos 200K to 400K February 2014 | 387 | 48 | $313,764 | $301,188 | 96.15% |
| July 2014 | 476 | 96 | $302,0275 | $290,029 | 96.65% |
| Condos above 400K February 2014 | 208 | 18 | $620,056 | $598,806 | 96.53% |
| July 2014 | 191 | 28 | $527,989 | $504,294 | 95.67% |
| Single Family up to300K February 2014 | 160 | 58 | $231,021 | $222,218 | 96.64% |
| July 2014 | 159 | 64 | $235,258 | $225,815 | 96.66% |
| Single Family 300K to 600K February 2014 | 633 | 92 | $440,110 | $427,339 | 97.63% |
| July 2014 | 514 | 139 | $445,387 | $429,941 | 96.77% |
| Single Family 600K to 2M February 2014 | 832 | 62 | $1,067,785 | $988,997 | 96.29% |
| July 2014 | 631 | 84 | $1,005,939 | $945,592 | 95,11% |
| Single Family 2 M and over February 2014 | 242 | 11 | $4,226,273 | $3,777,727 | 89.65% |
| July 2014 | 134 | 9 | $3,001,556 | $2,563,289 | 86.45% |
| Totals February 2014 | 2594 | 389 | 94.99% | ||
| Total July 2014 | 2328 | 476 | 94.71% |
[youtube]http://youtu.be/m8QBfW43oWE[/youtube]
Market Update for end of May 2014. The numbers end of January 2014 compared to end of May 2014. The economists in the Industry have been projecting a growth of 7% for this year and we are seeing exactly that. Also the comparison of the listing price to selling price is showing that the sellers lower their price if they want to sell.
WE ARE IN A STABLE MARKET AND THERE SHOULD BE NO FEAR TO BUYERS OR SELLERS TO JUMP IN
| Cities | Median Price condos | Total condos sold | Median Price single family | Total single family sold | Total homes sold | Available properties | % Selling to Listing Price |
|---|---|---|---|---|---|---|---|
| Palm Springs Jan | $195,000 | 67 | $437,000 | 53 | 120 | 632 | 92% |
| May 2014 | $205,500 | 88 | $467,000 | 82 | 170 | 597 | 93% |
| Rancho Mirage Jan | $337,000 | 26 | $679,000 | 37 | 63 | 544 | 93% |
| May 2014 | $384,000 | 29 | $660,000 | 54 | 83 | 468 | 89% |
| Palm Desert Jan | $257,500 | 70 | $450,000 | 42 | 112 | 859 | 92% |
| May 2014 | $275,000 | 77 | $395,500 | 80 | 157 | 764 | 92% |
| Indian Wells Jan | $365,000 | 5 | $649,000 | 13 | 18 | 272 | 93% |
| May 2014 | $377,500 | 14 | $1,262,500 | 22 | 36 | 213 | 86% |
| La Quinta January | $353,500 | 16 | $590,000 | 86 | 102 | 877 | 94% |
| May 2014 | $375,000 | 22 | $600,000 | 107 | 129 | 735 | 90% |
| Sun City January | $339,000 | 27 | 27 | 90 | 102% | ||
| May 2014 | $342,000 | 33 | 33 | 88 | 98% | ||
| Totals January | $301,600 | 184 | $524,000 | 258 | 442 | 3274 | |
| May 2014 | $323,400 | 230 | $621,166 | 375 | 608 | 2865 |
The Market by April 30th We are now at the end of the “season” and we have seen some potential buyers stay shy because they did not believe prices could go up so fast and it “smelled and looked” like something we had seen before : “the bubble” “Is this a new Bubble?” Here is the data that proves that “No it is NOT a Bubble”. As we have been saying all along, we are entering a stable market – Just a “regular Market ” with Buyers ready to buy and Sellers willing to sell. And isn’t it the most comfortable time to think of buyer with no “fear” ?