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.

  1. 3 beds, 3 full baths
    Home size: 1,630 sq ft
    Lot size: 5,663 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 0
  2. 2 beds, 2 full, 1 half baths
    Home size: 1,490 sq ft
    Lot size: 11,025 sqft
    Year built: 1948
    Parking spots: 1
    Days on market: 2
  3. 3 beds, 2 full baths
    Home size: 1,319 sq ft
    Lot size: 6,534 sqft
    Year built: 1977
    Parking spots: 2
    Days on market: 2
  4. 3 beds, 2 full baths
    Home size: 1,404 sq ft
    Lot size: 10,019 sqft
    Year built: 1979
    Parking spots: 1
    Days on market: 3
  5. 3 beds, 1 full, 1 three-quarter baths
    Home size: 1,260 sq ft
    Lot size: 10,454 sqft
    Year built: 1979
    Parking spots: 2
    Days on market: 3

See all Displaying Your Custom Search Listings.
(all data current as of 8/26/2016)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Next, check out some great condo values:

  1. 2 beds, 2 full baths
    Home size: 889 sq ft
    Lot size: 1,307 sqft
    Year built: 1974
    Days on market: 1
  2. 1 bed, 1 full bath
    Home size: 771 sq ft
    Lot size: 871 sqft
    Year built: 1973
    Parking spots: 1
    Days on market: 1
  3. 2 beds, 2 full baths
    Home size: 1,200 sq ft
    Year built: 1964
    Parking spots: 2
    Days on market: 2
  4. 2 beds, 2 full baths
    Home size: 1,200 sq ft
    Year built: 1964
    Parking spots: 2
    Days on market: 2
  5. 2 beds, 2 full baths
    Home size: 1,066 sq ft
    Lot size: 3,049 sqft
    Year built: 1974
    Days on market: 2

See all Displaying Your Custom Search Listings.
(all data current as of 8/26/2016)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Comments

About Vic Yepello

BIO~
Vic Yepello has been a Palm Springs resident since 2005.  He moved here at a time in his life when a change was necessary to get away from a high-pressure job and the weather back in Philadelphia. That proved to be the right decision in so many ways. Coming to Palm Springs began a new chapter in his life like never before.

Vic obtained his Real Estate license in February of 2006 working hard to establish a name and trade.  In 2010, he began a business partnership with Ron Jesser. Together, they have enjoyed much success in helping their clients achieve their goals of buying, selling and investing in Real Estate across the desert communities.  To them, they believe an agent should not disappear after Escrow closes.

Vic worked on the water conservation task force and takes part in many other community activities.  He is currently a co-chair on the Active Transportation Committee for the city of Palm Springs and he is a board member for Friends of CV Link.

When not doing any of the above, he can be seen around town quite often on his bike enjoying the scenic beauty of the desert.  Vic has used his bike to raise money for his favorite charity AIDS Lifecycle because giving back is a part of what he does everyday.
As Vic says: “If you want to learn about the city, it’s best done on two wheels!"