The Statewide median price of existing single family homes rose to $304,500 in November according to the California Association of Realtors as well as a 2.4% increase over the previous month and 5.8% higher that the same month a year earlier.

In Palm Springs the median price of a single family home was $319,000 in November according to the Desert Area Multiple Listing Service.  That represents an increase of 13% over the previous month but a decrease of 9% from November of 2008.  Of course the number of homes sold in Palm Springs is a smaller sample than California as a whole and prone to wider variation as one or two sales can greatly affect the median price.   Nonetheless, I would view this as a positive sign that the market in California as well as Palm Springs has rounded the corner and headed in the right direction.

  Look for my year end report shortly after the first of the year, detailing home sales in Palm Springs over the course of 2009 and some interesting information concerning the decade and Palm Springs home sales.

Tags: Gary Carlson, Palm Springs Market Watch, Palm Springs Real Estate, Prudential, The Moore Carlson Group

This entry was posted on Wednesday, December 23rd, 2009 at 4:43 pm and is filed under Gary's Real Estate Blog. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.