Home : Blogs : Harold Watts' Palm Springs Real Estate Blog : Harold's Palm Springs Real Estate Blog

Homes in Palm Springs Selling Nearly 95% of List Price- Palm Springs Home Sales Report for Nov. 2007

The Christmas songs are blaring on the radio, the holiday parties are in full swing, and the malls are packed with Holiday shoppers.

The holidays have arrived in Palm Springs, and everyone is getting into the spirit of the Season. Last Saturday, was the Festival of Lights Parade and this weekend is the Palm Springs Classic Film Festival. There is plenty to do here in our fine city. If you a contemplating a move to Palm Springs, here are the lastest figures for this months Palm Springs Home Sales Report for Nov. 2007. Use this as your guide to your decision to buying a home in Palm Springs:

74 homes and condos were sold in Palm Springs during the month of November 2007. The average median price was $534,452, and the average time on the market was 137 days.

Condos Sold=36 Average Median Price=$312,466 Average Days on Market: 130
Homes Sold=38 Average Median Price=$744,755 Average Days on Market: 143

The median price of homes in Palm Springs was higher for the month of November because there were 5 homes that sold that were priced from 1 million to 4.8 million dollars.

The trend I am seeing with the homes that have sold in Palm Springs is that they are selling close to asking price. This is due in part to the home sellers' reducing their offering prices to more realistic market conditions. Buyers having more choices than ever, are only going to purchase a home they believe is priced well.

Here are the facts: Condos sold in Palm Springs for the month of November were getting 94.83% of the list price, while homes sold in Palm Springs received 93.55% of the list price.

So what does this mean to you, the Palm Springs home buyer? It means that you have more choices than you have had in the last several years, and the time to buy is now. You are in the drivers seat. It's time to make your best and reasonable offer on your dream home in Palm Springs.

For further assistance on your Palm Springs home search, go to my website Greetings From Palm Springs.com and click on Search For Homes.

Same article posted on Blog of the Desert

Posted by Harold Watts' Palm Springs Real Estate Blog on 12/06/2007 05:01 PM

Comments (3)

palm springs condos sold, home sales palm springs, palm springs home sales report, homes sold palm springs, palm springs home search

This post has been included in California Information Riverside County, CA Information Palm Springs, CA Information

3 Comments on Homes in Palm Springs Selling Nearly 95% of List Price- Palm Springs Home Sales Report for Nov. 2007

DEC

2007

Great research Harold!! I am now armed with some good information, we have a great market here!

DEC

2007

Elaine,

We do have a great market. I am tired of "the spin" the media perpetuates on all the negative aspects of the real estate market. Yes, the market is not as good as it once was, but there are positive aspects as well.

BTW, the name is Harold, not Howard. Don't worry, everyone makes the same mistake.

DEC

2007

Here in Provincetown on Cape Cod, prices are closing at about 95% of the list price as well. Buyers are only buying property that is priced correctly under current market conditions. As a Buyers Agent, I advise my Buyer Clients to only look at properties priced correctly. If it is over-priced, we drive right on by!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?