Figures released by the California Association of Realtors show the following:
Sales of Single Family Detached Homes (no condos) ---December 2010
- Desert Median Sales Price for December 2010 177,540
- Median Sales Price for November 2010 163,270
- Median Sales Price for December 2009 172,320
- % change in price from prior Month Nov 2010 8.7% 1.7%
- % change in price from prior year Dec. 2009 3.0% -1.6%
- % change in sales from prior month Nov 2010 26.5% 5.9%
- % change in sales from prior year Dec, 2009 1.3% - 6.8%
Even though the Desert is one of Americas premiere resorts, with winter weather the rest of the country can only wish for; the current median price yields one of the best values in real estate anywhere in the country.
The Desert's December 2010 gains over November 2010 in price at 8.7% and sales at 26.5% was greater than every reporting area of California except in and around Santa Barbara with higher price gains at10.9% and slightly higher sales gain of 27.5%
“December’s sales increase reflects buyers taking advantage of rock bottom interest rates and improved affordability since the first half of the year, when prices were higher. Most of December’s sales opened escrow in October and November. Rates hit their absolute lowest in October but began edging higher in November, prompting buyers to get off the fence." reported the Calif. Association of Realtors.
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Unfortunately, most of you were not aware the market was rising. Media, who seems to enjoy only reporting “doom and gloom” news, has been pretty quiet in reporting this good news. So, if you have been holding back, perhaps you had better re-think your strategy so you don’t get left behind as the market moves upward. After all, the Palm Springs Desert area is a “choice” place to live, and it’s been over ten years since many could afford to “jump into” this great market. Just give me a call or email me and I’ll help you find a great buy!
Which home loan is best for me?
IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificate towards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!
Brought to You By Your Favorite Realtor,
Nancy Hankin
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