Monthly Statistics for Homes sold in Palm Springs

Almost the end of the summer and interesting numbers for homes Sales in Palm Springs!

  • The number of escrows closed is down 14%. It means 14% fewer homes got into contract  during July. However there is a  20% increase in homes that went into contract for the month of August(which will show as increase in sold homes for next month statistics)
  • Median prices are down 8%
  • 4% drop in number of foreclosures “sold” (this is the reflection of the fewer total number of units closed)
  • 8% drop in number of foreclosures active on the market .

The sales of foreclosures brings the median price down and brings some sellers to accept lower offers. It is still time to get in on” band wagon” and take advantage of the market. Our season is right around the corner  and could affect the market – 2 more months to go.

The figures in red mean the numbers are showing worse results compared to the previous month and green means the numbers show an improvement compared to the previous month

The homes “sold” in August reflects the sales that happened in July and closed in August

 Total  homes sold in August  2009 : 357
Median Price all in all : 327,450
Total Bank Owned (REO’s) sold in  August 2009 : 126
Total Bank Owned (REO’s) active in August 2009 : 197

 
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 165,000 137.46 55 284,500 181.73 54 109 44 67
RanchoMirage 280,000 151.15 12 582,500 230.48 32 44 7 25
Palm Desert 215,000 155.34 41 298,442 158.03 52 93 31 55
Indian Wells 400,000 152.33 3 481,000 162.79 4 7 3 4
La Quinta 220,050 161.68 16 345,000 170.05 81 97 40 44
Sun City       330,000 172.18 7 7 1 2

Total  homes sold in July 2009 : 416
Median Price all in all : 358,490
Total Bank Owned (REO’s) sold in  July 2009 : 132
Total Bank Owned (REO’s) active in July 2009 : 214

 
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 162,500 140.75 74 300,000 189.42 76 150 53 72
RanchoMirage 292,500 154.08 12 650,000 228.92 29 41 7 31
Palm Desert 190,000 151.53 39 314,900 179.52 51 90 39 53
Indian Wells 395,000 198.15 3 696,000 265.72 14 17 2 6
La Quinta 287,500 199.11 14 375,000 183.62 87 101 30 50
Sun City       280,000 187.83 17 17 1 2

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