Median price increases from October to November, 2009.
As of December 1, 2009 the number of condos, and single family homes on the Palm Springs market have declined significantly. There are 422 single family homes listed for sale in the Greater Palm Springs Multiple Listing Service as of December 1, 2009. On November 1st, 2009 there where 523 single family homes for sale; a decrease of 20 percent. As for condos in Palm Springs, there were 474 condos on the market on December 1, a decrease of 18 percent from 567 on November 1st, 2009.
Further, the median price-the price for which half the prices sold for more and half sold for less- increased from $284,904 ( 115 condos and sfr’s) to $311,760 ( 109 condos and sfr’s) from October to November, 2009 , a gain of 9% in the median sales price.
So, once again, does this indicate a shift in the Palm Springs housing market? Dwindling inventories and median price increases seem to be telling the story at least for the last sixty days.
Tags: Gary Carlson, Palm Springs Market Watch, Palm Springs Real Estate, Prudential, The Moore Carlson Group
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on Tuesday, December 1st, 2009 at 4:38 pm and is filed under Gary's Real Estate Blog.
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