Happy New Year to one and all!!! I just got back a couple of days ago from my vacation to Buenos Aires, so I have not been up to date on my blogging activities. I had the best of intentions to do some blogging but hey, I'm was on vacation!!!
The month of December in Palm Springs was filled with lots of merriment and holiday cheer. There were so many more parties this year, that I had to turn down a few of them. Sorry Guys!!
Besides leaving for my vacation on the 15th of December, the highlight of the holiday season for me was the Festival of Lights Parade.
It was so much fun seeing all of the lights on the floats, drinking hot apple cider, and seeing the joy of the holidays on everyone's face. It was a magical moment.
The month of December was also a busy time for the Palm Springs Real Estate market. The Palm Springs Home Sales Report for December 2007 showed some positive improvement to end the year. 
With all the negative news in the media about the state of the housing market and the economy in general, it is nice to find a "silver lining" in all of the madness.
According to Palm Springs MLS (Multiple Listing Service), there were 108 homes and condos that sold during the month of December 2007. That is a 3% increase over the December 2006 homes sales in Palm Springs, which was 105 homes sold. I will take any sign of good news I can get!!!
Here is the complete homes sales report for the month of December 2007:
There were 8 homes over $1 million that sold in Palm Springs during the month of December, which skewed the high median home price of $618,869.
The homes and condos that sold last month received 93.7% of the asking price. This trend is a continuation of what that I saw last month in the November 2007 home sales report. Home sellers are realizing that if you price it right, the buyers will come.
There are plenty of great opportunities to purchase a home in Palm Springs, especially for Canadian buyers. There hasn't been a better time when buyers have had a greater selection of homes to choose from. It is time to negotiate your best offer on a home, and not sit on the sidelines waiting for the real estate market to "hit bottom". If you wait to hit the bottom, you are already too late.
See you next month for the January 2008 Palm Springs Home Sales Report.
Copyright 2008 © All Rights Reserved.
Same article posted on Blog of the Desert
Photo Courtesy of Flickr
About The Author
Harold Watts is a Palm Springs California Real Estate Professional, who can assist you with the purchase and/or sale of real estate in Palm Springs and all the desert cities of the Coachella Valley. You can search for your next home in Palm Springs on his website, GreetingsFromPalmSprings.com
Harold Watts- Scott Lyle Realtors - (760) 778-6200 - harold@lylerealtors.com
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As a licensed Realtor since 1998, my main focus is the 2nd and vacation home market in Palm Springs. From condos to luxury homes, I can help you achieve all your Real Estate goals. 760-218-8209
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Thanks for sharing! I love good reports and I know they are out there-keep them coming.
Hi Harold! Good to see you back and refreshed! I checked out the link to the Festival of Lights and WOW...those floats are amazing!
Your market report looks pretty good..it's always great to see an increase. I think 2008 is gonna Rock!
Harold,
It's a pleasure to read good news, like this coming from Palm Springs. Looks like many markets around the country are starting to stir, meaning that the bottom is already here and pro-active buyers don't want to be left out.
Harold- Here in Provincetown, for the entire year of 2007, volume of sales increased as well compared to 2006! All good news is welcomed by all!
Ken- I want to highlight the positive in the Palm Springs real estate market because I'm tired about hearing the negatives. Thanks for your comments.
Linda- I didn't want to come back from my trip, but I am rested & relaxed. I think there will still be some corrections in the market for 2008, but I am starting to see small positive changes.
Esko- I'm still coming across buyers who are in the "wait and see" mode, waiting for prices to fall further. The smart buyers/investors are the ones who will profit in this market.
Rick- Great to hear that P-town had a great year for 2007....It is up to all of us (Realtors) to accentuate the positives in this real estate market.