Monthly Statistics for Palm Springs Real Estate

Here are the numbers covering the sales for November and comparison month over month for Palm Springs and the Desert Cities.

The comments next to the numbers should help you better understand that our market is a micro market and what applies to most of California does not apply to beautiful Palm Springs.

November 2011 results
Total homes sold : 385 a 7% month over month decrease
There were more potential buyers who were not ready to pay the market price for the homes they looked at and they went home without buying.
Median price for condos : $222,100 almost 7% decrease – 3 times as many bank owned sold in that category brought the median price down.
Median price for single family : $497,580 huge increase due to high end homes sold in Indian Wells.
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 the same number  reflecting the same decrease as total sale
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 is really low, so when you are here, you need to understand that if you are not ready to pay the price, someone right behind you will.  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.So prices WENT UP

Cities MedianPrice
condos sold
Price/sqft
condossold
Total
condos
MedianPrice
singlefamily
Price/sqft
singlefamily
TotalSingle family Total
sold
Sold REO’s Active REO’s
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

Numbers for October 2011

 

Cities MedianPrice
condos sold
Price/sqft
condossold
Total
condos
MedianPrice
singlefamily
Price/sqft
singlefamily
Total SFR Total
sold
Sold REO’s Active REO’s
Palm Springs

123,000

112.37

49

285,000

178.51

67

116

24

52

RanchoMirage

215,000

118.15

14

366,000

185.02

40

54

14

24

Palm Desert

168,000

118.31

39

270,000

163.89

49

88

34

59

Indian Wells

400,000

143.58

2

624,000

225.99

14

16

4

9

La Quinta

297,094

154.76

14

249,000

138.84

66

80

29

40

Sun City

257,000

143.58

7

22

1

2



Bookmark & Share

Care to Comment?  Leave a Reply here!

Your email address will not be published.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