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Palm Springs #4 of the Top 10 Hottest Vacation Real Estate Markets

By
Real Estate Agent with Home Smart Professionals-La Quinta, Indian Wells, Palm Desert, Indio, CA BRE 01820249

Recently on MSN Real Estate - Palm Springs was named as #4 of the top 10 hottest vacation real estate markets.  Some of the comments regarding real estate in the Palm Springs area (which also includes Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Indio, etc.) were that this area has seen the same severe home-price declines as the rest of California.  The median sale price they said is down 52.4% from its peak and is now at $130 per square foot, the same level as in the fall of 2002.  They stated that the prices are relatively unchanged since the start of 2010... since we live here and work here had to check it out.

The statistics below only involve Palm Springs.  Keeping in mind that the CA Desert is made up of diverse communities and each community has its own statistics that may not match the average of Palm Springs.  This report is simply to show that the average sale in Palm Springs is much higher than the $130 per sq ft that the article I am attaching below states. 

Palm Springs average price per square foot has been as follows since the first of this year: 2011

January sales - $171 per sq ft

Febuary sales - $220 per sq ft

March sales - $208 per sq ft

April sales - $223 per sq ft

May sales - $213 per sq ft

June sales - $203 per sq ft;   The average for the six months was $206.33.

In 2010, Jan-June the average price per sq ft was $200.33

In 2009, Jan-June the average price per sq ft was $188.17

In 2008, Jan-June the average price per sq ft was $279.00

In 2002, Jan-June the average price per sq ft was $177.33

Of course we all know that price per square foot depends on a great many details...i.e. upgrades, condition, location, etc.  These records are coming right from the MLS and they indicate that the low time was 2009 and that since 2010 the prices have stabilized if not increased a bit.  Since the records I researched are much different from the article on MSN (they were quoting $130 per sq ft) we found it necessary to blog this information.  Too many times our markets are wrongly publicized and it hurts us all.

http://realestate.msn.com/10-hottest-vacation-real-estate-markets#4

This being said Palm Springs and surrounding communities are on the Top 10 Hottest Real Estate Vacation Markets and we are grateful for that fact!

 

 

 

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Oh, By the Way...if you know of someone who could use our good services, please send us their contact information.  We will follow-up and take good care of them for you.  We are never to busy for your referrals!  And we offer high referral or finder fees.

Bonnie Hart, Realtor

Bonnie & Clyde Team

Home Smart Professionals

www.BonnieAndClydeRealEstate.com

bonniejhart@live.com

760.895.0071

Comments (2)

Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Bonnie

Glad to see you reporting data that you compiled, since what we see in the media can be so distorted. And it really can vary from area to area, which I suspect you would find if you compared the different desert cities, especially for La Quina and Rancho Mirage.

Jeff

Jul 16, 2011 02:19 PM
Bonnie Jean Hart
Home Smart Professionals-La Quinta, Indian Wells, Palm Desert, Indio, CA - Indio, CA
Bonnie J. Hart - 25+ yrs Exp - Real Estate - L

You are right Jeff!  And even within each city the prices vary depending on gated communities, whether there is a pool or is it on the golf course...etc.  

I hear Carlsbad has been hot this year too!

Jul 16, 2011 02:30 PM