Palm Springs Real Estate – where do we stand at the beginning of the season?

Interesting results I wanted to share with you regarding Palm Springs Real Estate

 

Here are the statistics covering ONLY the cities of : Palm Springs Proper, Rancho Mirage, Palm Desert, Indian Wells, Sun City Dell Webb and La Quinta.

The numbers in the chart   are showing the sales for April 2011 compared to October 2011. The table also shows the inventory in April compared to inventory up to date.

The total number of sales are 62% lower. This is “normal” because April would reflect the sales which happened during the month of March which is the height of the season while October shows the sales that happened during September which is still our low season.

What is important is that prices did not drop more than 1%   which shows a stable market at the lower end.

On the other hand , in the high end market, the  median price dropped almost 26%  (but only 4 homes sold)

Inventory :There is  50% less inventory for condos below 200K and 14% less inventory for single family homes below 300K : so the lower end is selling fast

Percentage of distressed properties active : 30% at the lower end below 200K  and only 5% at the higher end of the market

This season has already started strong, this is still a buyers’market – money is cheap out there.

Maybe some of your friends want to buy…let us know JJ

Total Sold April

Total Sold October

Distressed Properties
Sold April

Distressed Properties Sold Oct.

Median Price Sold
April

MedianPrice Sold
October

Total Active April

Total Active
Oct.

Distressed
Properties
ActiveNov.

% Distressed
inventory

Condos up to
200K            
   

108

79

47

39

125,000

114,000

785

393

119

30%

Condos 200K
and up

129

39

8

5

285,000

280,000

576

877

50

5.7%

Single Family
up to 300K

135

125

59

67

185,044

197,500

523

439

151

34%

Single Family
300K to 600K

114

70

19

17

437,931

426,500

777

687

95

14%

Single Family
600K to 2M

77

45

3

13

808,000

806,000

938

772

41

5.3%

Single Family
2M and up

8

4

2

0

  3,200,000   

2,350,000

259

197

5

2.5%

Total

569

362

121

141

 

3858

3365

 

 

 

 



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