Sheri’s Palm Springs Area Blog

Desert Home Sales And Prices Climb In First Quarter of ’12

Mountain View Country Club, La Quinta

Home Sales & Prices In Several Cities Increase, Inventory Continues To Shrink

Both sales and prices of desert homes and condos in several desert cities were on the rise again during the first quarter of 2012 compared to the same period of ‘11. Over $608 million of desert property was sold during the first quarter in the five most active desert cities listed below.

• Home Sales In Indian Wells: Sales +21.05% / Average sales price +11.90% to $917,983
• La Quinta: Sales +9.35% / Average sales price +3.28% to $588,105
• Palm Desert: Sales +3.45% / Average sales price +1.93% to $455,488
• Palm Springs: Sales +2.07% - Average sales price -1.93% to $428,130
• Rancho Mirage: Sales -4.26% - Average sales price -7.96% to $578,496
• Indio: Sales -9.46% - Average sales price +2.09% to $308,879

Related Article: "With Inventory Down, New Home Builders Are Back"

Data Source: Desert Area MLS sales of homes and condos that sold for $200,000 and higher in the first quarter of 2012 compared to 2011. Data compiled by Sheri Dettman & Associates©. Disclosure: Data is deemed to be accurate but cannot be guaranteed.

Home Sales Over $800,000 Zoom In First Quarter of 2012

Pga West, La Quinta

Last week I reported that both sales and prices of desert homes and condos were on the rise again. Today let’s drill down into those sales numbers a bit further to see ‘where the action is’ in different price segments.

I had our number crunchers take last Friday’s sales numbers and break them down by price segment and what we discovered is that sales at the higher end really took off in the first quarter of 2012 versus the same period of ‘11.

Price segments from $200,000 and higher showed modest sales gains, while sales at $800,000 and greater literally took off! Here’s the breakdown:

2012 First Quarter Sales Volume By Price Segment Versus 2011

• Homes sold from $200,000 to $399,999: +3.14%
• $400,000 to $599,999: +1.90%
• $600,000 to $799,999: -1.83%
• $800,000 to $999,999: +4.55%
• $1M to $1,499,999: +30.30%
• $1.5M to $1,999,999: +9.09%
• $2 Million and greater: +15.79%

Data Source: Desert Area MLS sales of homes and condos sold in the first quarter of 2012 compared to 2011 in the cities of La Quinta, Palm Desert, Indian Wells, Rancho Mirage, Indio and Palm Springs. Data compiled by Sheri Dettman & Associates©. Disclosure: Data is deemed to be accurate but cannot be guaranteed.

100% Sales Growth Y-T-D In 2012!

Golfers At Mountain View Country Club In La Quinta

Let’s get right to the point. Real estate sales here in the desert continue to increase and things just seem to be getting busier by the month. Our local escrow company reported last week that new purchase contracts that were opened in February were up 60% over February of 2011.

Our real estate team had more clients viewing properties in February than any month in our history. Prospective buyers who have been looking at desert properties for the past two or three years are now buying. We’re also seen an increase in sales from people we’ve worked with for only a short time. Properties across all price ranges are active with big movement in those over $1 million.

Sheri Dettman & Associates Up 100% Year-To-Date

Our first three months of sales this year are on track to equal six months of sales in 2011. And 2011 was up 30% over the 2010! Keep in mind that our local desert inventory continues to tighten up in line with increased sales, so don’t wait too long to find a great value on your perfect home at a historically low interest rate.

We’d love to see you on your next visit to the desert. Please try to give us a few days notice to reserve a spot on our calendar and remember–Real estate is indeed local!