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August 2017 Desert Housing Report

August 2017 Desert Housing Report
People always ask “How’s the Market?” Well, it depends. Are you a renter or a home owner?

Click to download the comprehensive August 2017 Desert Housing Report

Highlights:

  • On September 1st the Valley’s “months of supply” ratio reached 3.9 months, the first time it has fallen below four months since 2013! This is the combined result of lower inventory and a higher sales rate and, as we’ve said before, is a fundamental sign of a strong housing market.
  • The median price for Palm Springs homes continues to climb. For August 2017 it was $592,000, just 1.3% off the 2006 high.
  • The median price for Cathedral City homes stands at $300,000, up $25,000 in the last 12 months, and up 115.8% since the 2011 low.

Home owners: Homes are selling now. If you are thinking about selling, it’s a good time to list your home for sale now! Click to get a free home valuation within minutes. It’s an automated valuation report using public records information and does not differentiate regarding condition, upgrades, location, view, so it’s important to consult a real estate professional to fine-tune your thoughts about home value and equity. I offer free in home no-obligation consultations.

Home buyers: Home values are increasing throughout the desert, so if you are thinking about buying that vacation home or investment property do it now. Available housing inventory is expected to begin climbing which will relieve upward pressure on pricing, so it really is a good time to buy. Creating your wants and needs list now will help you use your time effectively when touring area homes. I’m here to help!

Just want to discuss the pulse of the Palm Springs real estate market, call me at (760)333-3160 and we can chat about the new data over coffee. I’m buying!

Proudly serving home buyers and home sellers in Palm Springs and throughout the Coachella Valley
Vickie Nagy, Broker Associate
Mobile 760.333.3160

Office 760.394.6002
CA BRE#01363932
Alta Realty Group | 777 E Tahquitz Canyon Way, Suite 200-47 | Palm Springs, CA 92262
CRS - Certified Residential Specialist | GRI - Graduate Realtor Institute | ABR - Home Buyer Representation Specialist | SRS - Seller Representative Specialist | CNHS - Certified New Home Specialist