Andalusia La Quinta New Home Bath
Buyers of Palm Springs area homes and condos continue to find good values in most desert cities. That said, rising prices for properties sold during May 2014 have slowed overall unit sales a bit in some market segments. Foreclosure and short sale property sales during May dropped 50% compared with May 2013.
May 2014 Average Single Family Home Prices By City
- Indian Wells: $1,684,000 (was $1,057,000 in May ’13)
- Indio: $275,000 (was $258,000 in May ’13)
- La Quinta: $726,000 (was $581,000 in May ’13)
- Palm Desert: $597,000 (was $457,000 in May ‘13)
- Palm Springs: $605,000 (was $525,000 in May ’13)
- Rancho Mirage: $814,000 (was $773,000 in May ’13)
May 2014 Average Condo & Attached Home Prices By City
- Indian Wells: $373,000 (was $373,000 in May ’13 – Unchanged)
- Indio: $118,000 (was $104,000 in May ’13)
- La Quinta: $405,000 (was $322,000 in May ’13)
- Palm Desert: $305,000 (was $257,000 in May ‘13)
- Palm Springs: $234,000 (was $199,000 in May ’13)
- Rancho Mirage: $368,000 (was $201,000 in May ’13)
Palm Springs Area Foreclosure & Short-Sale Sales Plummet
Foreclosure and short sales accounted for just 9% of single-family home sales during May ’14; a 50% drop from May ’13 when distressed properties accounted for 18% of sales. Distressed condo sales also dropped 50% during May accounting for just 6% of May ’14 sales compared with 12% in May ’13.
Remember That Real Estate Is Local
Consider that the data I shared here is for entire cities. And while that’s pretty local information, we’ll work with you in comparing neighborhood to neighborhood in finding your best location and value. And before you know it you’ll be enjoying your new home in the desert sun!
The master bath pictured above is from a luxury home at Andalusia at Coral Mountain in La Quinta.