2011 Final Sales Numbers IN!

  2011 Sales Statistics

       For The Coachella ValleyArea

9706 total unit sales  Homes/Condos

The year that just ended was a very busy year for Real Estate.  While Short sales and foreclosures made up close to 50% of the market there were still many traditional sales taking place

Counting the Cities from Palm Springs to Mecca we saw 7,338 single family homes sell in 2011.  Almost  a quater of those - 24.05% - sold in 30 days or less.  Another 34.98% - took between 30 and 90 days to sell.

The median sales price for single family homes was $190,750.  Not surprisingly the homes that sold in 30 days or less achieved 97% of their asking price, however the bigger surprise may be that homes on the market for 120 days or more still achieved 92% of their asking prices.

To contrast these numbers with 2010  the percentage of list price achieved went up year over year - in 2010 it was only 93%, so 4% beter in 2011.  The total number of homes sold was down but only by  25 units however, the median sales price was down 15K over 2010 when it was $205,000.

Looking at  Condo sales in 2011:  We saw 2368 total units sell The median price for those was $173,750. Asking price vs. actual sales price percentages were in a tight range between 92% and 94%. The most telling thing in this category was the days on market - or time it took to sell a condo. Almost half 48.3% of the units took over 120 days to sell. Buyer resistance to homeowners fees and more difficulty qualifying for a loan were the primary culprits here.

There were 5 homes sold in 2011 over 5 million dollars in the valley. One at the Hideaway one at Bighorn in Palm Desert and 2 at the Vintage.  The winner for top sales price was a 7.6 million dollar estate in The Madison.

See Luxury Properties In The Desert

With the vastly reduced inventory (only 4858 homes and condos valley wide) 2012 promises to be a very competitive year for home buyers in the Coachella Valley especially in the more popular price points.  Most well priced properties are once again seeing multiple offer situations.

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April 2010 Sales Way Up!

April 2010 numbers are in and it turned out to be the best month in quite some time. Perhaps it was the first time home buyer tax credit, perhaps it was the decreasing inventory of homes but it lead to very robust sales.

Palm Springs:

58 Single Family Homes Sold
87 Condos Sold

95 Single Family Homes Went into Escrow
89 Condos went into Escrow

Palm Desert:

70 Single Family Homes sold
62 Condos Sold

135 Single Family Homes Went Into Escrow
56 Condos went into escrow

Great numbers all around. 5 homes in Palm Desert and 5 more in Palm Springs sold in the million dollar plus category.

For sales information on your neighborhood contact Michael today.

Palm Desert CA Sales Stats

Palm Desert CA Real Estate represents some of the best over all values in the otherwise pricey California real estate market. The value for the money remains very high when compared to other areas of the state. The proximity to the 22 million southern Californians makes it a perpetually popular weekend getaway. The warmth of our winters makes it the perfect place to escape the cold and snowy weather in the North. Palm Desert offers an enviable resort lifestyle that includes over 320 days of Sunshine per year. Theatre, art and culture abound with hundreds of live performances at dozens of theatres including the McCallum, by world renowned artists every year. Fine dining and world class shopping from the heavy weights of the luxury goods world – Tiffany, Saks 5th Avenue, Gucci and more grace El Paseo in Palm Desert. Loads of interesting and unique shops complement these world famous names. The Living Desert is a community resource and unique treat for Desert Visitors. A cross between a botanical garden and zoo there are activities and learning experiences for every member of the family at the The Living Desert, located at 47900 Portola Avenue just South of El Paseo.

Of course Palm Desert hosts golf tournaments including the Women’s Samsung World Championship at Big Horn Golf club.

Click here to view: Homes For Sale or Condos For Sale

So What Is Selling?

Current Sales Stats (Dec 2009): There are 370 homes and 489 condos currently for sale in Palm Desert both representing a steady decline month after month since early 2009. There are 42 homes and 48 Condos under contract in the month of December 2009. There were 56 homes and 53 condos in the sold category!

The most expensive home sold in Palm Desert in December of 2009 was a 2,000,000 Home at Bighorn Country Club in South Palm Desert. This premier country club continues to see good activity even in the challenging market we are in.