Market Update for Palm Springs area as per today, February 23, 2010
I ran some numbers today and here are the results from the MLS (Multiple Listing Service)
City Active Listings Active Shortsales Active BankOwned
Rancho Mirage 703 41 27
Palm Desert + SunCity 1161 90 67
La Quinta +Bermuda Dunes 1228 132 65
Indian Wells + Palm Springs 1281 142 85
Indio + Cathedral City 657 192 86
Total 5030 597 330
So out of 5030 total active properties almost 12% are Short Sales and 6% are Bank Owned.
Are we in a Seller’s market?
Are we in a Seller’s market? We are, in fact. As I’ve been saying for months, we are in a micro market, resort area and our market does not respond at all like any other market in the state or the country.
Less than 6 months inventory
With such a small inventory (less than 6 months) the sellers are getting the understanding that prices could be trending up in the very near future.
IF YOU ARE STILL LOOKING FOR THE DEAL, YOUR TIME IS GROWING SHORT. LET’S TALK!!
If you are not in a position to purchase at this time, please let me know for my records.
I can be reached at 760 799 5308 or via e-mail at firstname.lastname@example.org
DRE License # 01352648
Bookmark & Share