April 2012 Market Report Palm Springs, CA

April 2012 Market Report Palm Springs, CA

 

The April 2012 Market Report Palm Springs, CA tells us lots.  Everything you see in the four charts points to one fact that we have been driving home for weeks now.  Homes are selling at or near listing price, inventory has dropped and the high-end of the market with a lot of unsold homes is throwing off the numbers of what is selling.

We are still in high season so it’s expected that sales will continue to be brisk as bargains are snapped up.  Negotiations are difficult at times as some agents do not respond to calls in a timely manner.  We are unsure why they behave this way but what we can say this:

  1. We WILL find you a home
  2. You WILL love it

This is our commitment and our promise to you. 

 April 2012 Market Report Palm Springs, CA

This first chart shows all data but notice one major premise:  The market is stable and prices are stable.

Date 8/11 9/11 10/11 11/11 12/11 1/12 2/12
For Sale 632 625 662 652 683 649 623
New Listing 186 182 224 205 191 208 219
Sold 119 116 114 122 173 109 128
Pended 136 127 135 158 113 191 223
Months of Inventory based on Closed Sales 5.3 5.4 5.8 5.3 3.9 6.0 4.9
Months of Inventory based on Pended Sales 4.6 4.9 4.9 4.1 6.0 3.4 2.8
Absorption Rate based on Closed Sales (%) 18.8 18.6 17.2 18.7 25.3 16.8 20.5
Absorption Rate based on Pended Sales (%) 21.5 20.3 20.4 24.2 16.5 29.4 35.8
Avg. Active Price 470 471 461 431 440 491 505
Avg. Sld Price 288 279 287 301 287 248 273
Avg. Sq. Ft. Price 177 164 165 174 170 154 156
Sold/List Diff. % 95 97 96 97 97 94 96
Sold/Orig LP Diff. % 90 93 90 92 94 87 90
Days on Market 95 92 107 98 104 115 122
Median Price 183 223 238 225 215 195 212

 

Click on the thumbnails below to see the charts.

 

Check out some of the great values on Single Family Homes in Palm Springs right now.  These listings are updated live so the data is current.

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Next, check out some great condo values:

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Palm Springs Real Estate News and Happenings- Palm Springs Homes For Sale
550 S Oleander Rd Palm SpringsCA92264 USA 
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About Victor Yepello

Vic is has been a resident of Palm Springs and a Real Estate Agent since 2005. His experience as a buyer's agent with Ron Jesser began in 2009 when he joined forces with Ron Jesser as technical assistant, blog writer and transaction coordinator. They became business partners in 2012 and together provide excellent value and service to their buyers in the Greater Palm Springs Area.

When it comes to Real Estate knowledge, go no further than Vic and Ron.