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Palm Springs CA Real Estate Market Update for the week ending May 28th 2007

Memorial Weekend has come and gone, but the real estate market here is still moving forward. Every week in this blog, I will give the most accurate and updated information on what is happening in the Palm Springs real estate market. No hype, just the facts. Take what you like, and leave the rest.

New Homes Listed: 93

  • 51 homes and 42 condos
  • Lowest Price: $109,000
  • Highest Price: $4,500,000 (Movie Colony)

Homes in Escrow: 24

  • 13 homes and 11 condos
  • Lowest Price: $129,500
  • Highest Price: $1,695,000 (Old Las Palmas)
  • Average Days on Market: 126

Homes Sold: 20

  • 9 homes and 11 condos
  • Lowest Price: $200,000
  • Highest Price: $1,999,000 (Central Palm Springs)
  • Median Price: $350,000
  • Average Days on Market: 141
  • % of List to Sales Price: 95.15%

If you want to know what is happening in your Palm Springs neighborhood, go to my website, GreetingsFromPalmSprings, and sign up for the MLS Market Update. You will have the most current, up to date information on the Palm Springs real estate market sent to you on weekly basis. If you have any questions, please don't hesitate to call or email me.

Make it a great day,

Harold Watts, ABR of Lyle Realtors.

Website: http://www.GreetingsFromPalmSprings.com

Posted Wednesday May 30
( 05/30/07 12:37AM ) — Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA

Hi Harold,

Thanks for the marketing update. I've been (sort of) watching the desert community market for a while, I've been looking for a vacation condo myself, I'm currently in northern Orange County.

A question for you, without more searching you have 93 new properties coming on to the maket, those would be added to what number of current listing inventory? Have any idea off the top of your head?

Thanks a bunch.

 

( 05/30/07 04:01PM ) — Harold Watts' Palm Springs Real Estate Blog

Lynda,

Thanks for the reply.  To answer your question, the 93 new listings that came on the market in Palm Springs is added to the currrent number of 1423.  The current inventory level of homes & condos is now 1525.

If have any other questions, feel free to contact me.

Make it a great day,

Harold 

 

( 05/30/07 05:15PM ) — Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA

Hi Harold,

Thanks so much for the feedback. I was trying to distinguish the number of sales, vs. the number of active listings. So in your area it appears that of approximately 1,525 properties (condos & homes) 20 went into escrow in a 30 day period of time, correct?

( 05/30/07 06:54PM ) — Harold Watts' Palm Springs Real Estate Blog

Lynda,

The 20 homes in Palm Springs that went into escrow was in a 7 day period.  The dates were from May 21-May 28th.  I will have the 30 day figures by the end of the week.  I hope this information answers your question.

Make it a great day,

Harold

( 05/30/07 07:47PM ) — Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA

Hi Harold,

Oh my gosh, thank you so much for the clarification! Sorry I didn't notice that myself...

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