What is happening now in Palm Springs Real Estate Market?
Here is my take for this month. At the end of the season, the sellers are anxious to sell before the summer, thereby accepting lower offers. This created a lower median price point. There is still time to jump in and buy a good “real estate” value for your money in the Palm Springs area.
Here are the numbers for June compared to May :
- Number of total closed sales in June compared to May: Almost the same
- Median price of sold properties (overall) compared to May: close to 9% Decrease in price – condo prices held whereas the single family homes brought the overall median price down. (particularly in Indian Wells and Sun City)
- Number of Bank Owned sold :5% increase.
- Number of Bank Owned still for sale : almost the same
- 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
Yes as it has been and said for the last 2 decades, the time to buy in Palm Springs is the summer. Sellers are “RIPE.” The “daring buyers”, out there ready to come and look at properties in 110 degrees of heat, will be rewarded.
Alvin and I are here for the summer, let’s set an appointment.
Total homes sold in June 2010 : 513
Median Price all in all : 358,329
Total Bank Owned (REO’s) sold in June 2010 : 135
Total Bank Owned (REO’s) active in June 2010: 270
|Sold REO’s||Active REO’s|