As a matter of comparison for single family home sales for the month of October, I searched sales for this month only from 2000 to the present.Interestingly I found that in October 2000 there were 53 sales and in October of 2009 there were 66 single family homes (SFR) sold. Overall sales remained fairly steady in the month of October, although the median price rose and dropped dramatically from the high in 2006.
The following information was obtained from The Multiple Listing Service: OCTOBER SFR Sold YEAR MEDIAN PRICE
53 2000 $239,000
65 2001 $245,000
76 2002 $275,000
73 2003 $350,000
72 2004 $475,000
66 2005 $515,000
51 2006 $550,000
72 2007 $475,000
56 2008 $327,500
66 2009 $280,000 Prices have fallen to the level of 2002 considering the median price over this decade for the month of October. The sales have remained steady with an average of 65 single family home sales in the month over the decade. What does this indicate for the future of Palm Springs real estate? Sales have remained steady, but prices have dropped tremendously. The decade will most likely end with the median prices falling to the levels of the early part of this decade. The big question is what the next decade will hold for real estate sales and prices in Palm Springs and nationwide. Stay tuned, I look forward to presenting the same information for the month of November.
Tags: Gary Carlson, Palm Springs Market Watch, Palm Springs Real Estate, Prudential, The Moore Carlson Group
This entry was posted
on Monday, November 9th, 2009 at 1:58 pm and is filed under Gary's Real Estate Blog.
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