Market Update for Palm Springs Real Estate

Tthis is my first market update for the new year. The  numbers for January 2012 reflect the sales activity for December 2011. December is always a slower month due to the holidays though the number of sales increased a little bit, The distressed properties are still available making it WORTH TO BUY NOW.

I am showing you the numbers for November 2011 and January 2012 to compare.

You can also visit the page for market updates for the last months : http://www.claudinereal.com/Area_Sales_Statistics.htm

Looking forward to meet with you this season and become your Realtors of choice for Palm Springs and the area

Deals are out there, we know out to read them , recognize them and negotiate them for you.

January 2012 results
Total homes sold : 396
Median price for condos : $191,650

Median price for single family : $303,357
Total Bank Owned (REO’s) sold : 98 a 20% increase
Total Short Sales sold : 43
Total Bank Owned (REO’s) active in February 2011: 189 a 13% month over month increase
Total Short Sales active in February 2011:246 a 5% month over month increase
Total Inventory for the cities we cover : 3152 approximately the same as in December. The inventory for short sales + REOs is just about 14% of the total inventory.

Cities MedianPrice
condos sold
Price/sqft
condossold
Total
condos
MedianPrice
SFR
Price/sqft
SFR
Total
SFR
Total
sold
Sold REOs Active REOs
Palm Springs

134,900

109.59

69

310,000

185.29

49

118

25

61

RanchoMirage

185,000

118.55

19

542,000

197.76

28

47

8

22

Palm Desert

175,000

137.18

47

238,000

139.99

50

97

29

61

Indian Wells

360,000

177.05

5

552,500

264.32

14

19

3

9

La Quinta

295,000

167.67

18

250,000

162.05

79

97

32

35

Sun City

231,000

149.46

18

18

1

1

November 2011 results
Total homes sold : 385
Median price for condos : $222,100

Median price for single family : $497,580
Total Bank Owned (REO’s) sold : 79 a 15% decrease reflecting the fact that less Bank Owned inventory on the market.
Total Short Sales sold : 55
Total Bank Owned (REO’s) active in December 2011: 167 a 9% month over month decrease
Total Short Sales active in December 2011:237 a 9% month over month decrease
Total Inventory for the cities we cover : 3169 a 9% month over month decrease. The inventory for short sales + REOs is just about 13% of the total inventory, this is slightly down compared to last month.The number of distressed properties in the cities we cover has come down. that tells us something about where the prices will go next.

Cities MedianPrice
condos sold
Price/sqft
condossold
Total
condos
MedianPrice
SFR
Price/sqft
SFR
Total
SFR
Total
sold
Sold REOs Active REOs
Palm Springs

137,000

116.32

54

365,000

183.57

79

133

30

44

RanchoMirage

285,000

171.96

11

567,500

200.66

26

37

9

22

Palm Desert

212,000

144.84

39

302,500

166.16

54

93

15

52

Indian Wells

297,500

140.34

4

1,175,000

346.26

11

15

1

9

La Quinta

179,000

140.51

9

313,000

161.08

81

90

24

39

Sun City

262,500

154.27

17

17

0

1



Bookmark & Share

Care to Comment?  Leave a Reply here!

Your email address will not be published. Required fields are marked *