Palm Springs Real Estate Market Statistics
The temperatures are not the only numbers climbing in Sunny Palm Springs California. At the midway point of 2017 the numbers show some impressive gains. The Median price for a single family home has risen to $380,000. While the sales of homes is up 16.1% in just the last three months! The average time on market has dropped to 74 days from 89 just last year.
Finally, the "months supply of Inventory" - how many months our current inventory would last if no new homes were listed for sale, has dropped from just over 6 months to just over 4 months.
Clearly, there is a demand for homes in the Coachella Valley!
What can you do if you want to buy?
Get Pre-qualified with a lender! Be ready to make that offer. While there are all cash offers these days it is nothing like it was in 2012 and 2013 when seemingly every offer was ALL CASH. You can compete and get a home in this market if you are prepared.
Know Your Wants and Needs: Be prepared to know if a house will work or not work for you. Sounds simple, but wasting a day or two debating about an item could cost you your dream home.
What Can You Do If You Want To Sell?
Prepare your home for Maximum value. This is your market. Don't squander it by having unfinished repairs, squeaky doors or a dirty uncluttered house. Buyers in this market are prepared to pay top of market prices. Give them the reason to do it!
Timing Is Everything: Markets are not stagnant. Things will not always be this way. If you need to sell in six months eight months perhaps you could sell now and lease back. Sell and rent a place for the interim. Think out of the box and maximize your profits.
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