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October 2017 Desert Housing Report

October 2017 Desert Housing Report shows strong performance year over year for Greater Palm Springs Area Real Estate. The November 1st inventory of 3,625 units was 725 units less than last year.

The combination of higher sales over the last 12 months and a lower inventory makes the important “months of supply” ratio on November 1st 4.4 months. This is the lowest ratio on that date since 2012 and is the number one indicator pointing to the strength of our local real estate market.

Download your copy of the October 2017 Desert Housing Report-Greater Palm Springs Area.
Links to other recent Desert Housing Reports follow:
September 2017 Desert Housing Report
August 2017 Desert Housing Report
July 2017 Desert Housing Report

Please contact me anytime to discuss your real estate questions. I’m here to help! If you are thinking about making a move, it’s a good time to do it. Sellers may be ecstatic that the beginning of the season is bringing more buyers to the valley, but buyers have an advantage too. Buyers taking action now will benefit from future increasing home values.

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



September 2017 Desert Housing Report

September 2017 Desert Housing Report shows that activity slows when the Greater Palm Springs Area reaches summer seasonal highs. Fewer buyers make the trip when it’s 118 degrees outside.

Since prices decline to some degree every summer, prices are down from their spring highs but are still up compared to the low prices of last summer. That’s why Palm Springs is now 6.7% below its all-time high (last month it was only 1.3% below) but still up 7.5% compared to last September’s seasonal low.

That being said, the 3-month trailing average looks good. Even though sales have declined the last three months – as they do every year at this time – the three month average of total sales in September was still ahead of last year by 6.3%. Sales of detached units were 3.8% higher while those of attached units were 11.7% higher. The large percentage increase in attached sales over last year gives some credibility to the idea that once the selling season finally begins in earnest, the attached market might finally participate price wise in the region’s housing recovery.

On October 1st the Valley’s “months of supply” ratio was 4.0 months, the lowest ratio on October 1st since 2013. Last year the ratio on October 1st was 5.5. This is a very encouraging sign as we approach next year’s selling season. This positive indicator is confirmed by September’s median value of 71 “Days on the Market”, which is nine days less than the number
one year ago.

Download your copy of the September 2017 Desert Housing Report-Greater Palm Springs Area.
Links to other recent Desert Housing Reports follow:
August 2017 Desert Housing Report
July 2017 Desert Housing Report

Please contact me anytime to discuss your real estate questions. I’m here to help! If you are thinking about making a move, it’s a good time to do it. Sellers may be ecstatic that the beginning of the season is bringing more buyers to the valley, but buyers have an advantage too. Buyers taking action now will benefit from future increasing home values.

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



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



July 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 July 2017 Desert Housing Report

HIghlights:

  • Coachella Valley is very diverse. Median home prices can be distracting, single family homes and condos have both gained value in the last 12 months (July 2017 vs July 2016)
  • The median price for Palm Springs homes in July 2017 was $588,250, just 2% off the 2006 high.
  • All cities in Coachella Valley have higher number of sales May-July 2017 vs May-July 2016 except Coachella and Desert Hot Springs

Homes are selling now. If you are thinking about selling, it’s a good time to list your home for sale now!

Call me at (760)333-3160 to 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