South Palm Springs - South of Ramon Road
| July 2011 | June 2011 | July 2010 | |
| Condos Sold | 35 | 44 | 27 |
| Price Range | $52,500 - $560,000 | $43,000 - $515,000 | $39,000 - $335,000 |
| Average Price | $186,422 | $207,616 | $177,685 |
| Average Square Feet | 1,477 | 1,541 | 1,424 |
| Price/Square Foot | $123.43 | $130.16 | $124.73 |
| Days on Market | 102 | 98 | X |
| % Distressed Sales (REO or Short Sale) | 31% | 34% | 37% |
Kind of a mixed bag is South Palm Springs in July...better sales than last year, but not as good as last month. The 35 sold condos represent a big step up over July of 2010, but a big step down from June 2011. The range of prices paid was good in July...with the highest high price paid as well as the highest low price paid of the 3 time periods. The average price paid for a condo, though, was not as high as June, but better than July of 2010. The average size of a condo sold in July was also in-between the two earlier periods...not as large as June, but bigger than July of last year. However, the all important "price per square foot" was lowest in July of all the time periods, but not much lower than July 2010. Days on market was similar to June, but the numbers from last year were not captured by the MLS (not captured for any of the regions). Another bright spot was the number of distressed properties was lowest in July of any of the three time periods.
Central Palm Springs - Between Ramon Road and Vista Chino
| July 2011 | June 2011 | July 2010 | |
| Condos Sold | 21 | 30 | 19 |
| Price Range | $54,300 - $530,000 | $54,000 - $630,000 | $23,000 - $345,000 |
| Average Price | $166,086 | $161,794 | $170,805 |
| Average Square Feet | 1,189 | 1,173 | 1,136 |
| Price/Square Foot | $131.04 | $121.53 | $147.78 |
| Days on Market | 117 | 99 | X |
| % Distressed Sales (REO or Short Sale) | 52% | 43% | 42% |
Like South Palm Springs Central Palm Springs had a mixed bag sales-wise in July. More condos were sold vs. July of last year, but not as many as June 2011. The range of prices paid was a lot better than last year, but not quite as high as last month. Surprisingly, the average price paid was higher than June 2011, but not as high as July 2010. The average size of a condo sold in July was largest of any of the three time periods. Price per square foot was higher in July than June, but not as high as July 2010. Days on market was quite a bit higher in July than June. And the percentage of all condos sold that were distressed was over 50%...highest of any of the time periods.
North Palm Springs - North of Vista Chino
| July 2011 | June 2011 | July 2010 | |
| Condos Sold | 16 | 16 | 11 |
| Price Range | $42,000 - $279,000 | $29,500 - $275,000 | $46,600 - $178,000 |
| Average Price | $123,478 | $92,558 | $105,441 |
| Average Square Feet | 1,162 | 993 | 936 |
| Price/Square Foot | $102.11 | $90.05 | $111.43 |
| Days on Market | 66 | 84 | X |
| % Distressed Sales (REO or Short Sale) | 56% | 69% | 55% |
As usual, North Palm Springs bucks the sales trends set by the other regions. Sales here were pretty good compared with both last month and last year. The same number was sold in July and June of 2011 and these were more than sales of June 2010. The range of prices paid was also similar in July and June of 2011 and both were higher than the figures from July 2010. The average price paid was a lot higher than either of the earlier periods...probably because the average size of a condo sold in July was a lot bigger than the average condo sold in the earlier periods. Surprisingly, the highest price per square foot occurred in July of 2010, although the July 2011 number was higher than June 2011. Days on market was a lot fewer than June. The percent of sales that were distressed was lower in July than June of this year and just a bit higher than July 2010.
Although sales throughout Palm Springs were a bit of a mixed bag compared with the other time periods there were some positive aspects in July. Across the board condos sold and the prices paid for them were better than July of 2010. And although the quantity sold was not as good as June 2011 the prices paid were pretty good.
If you have any questions or comments regarding this data and/or the analysis please feel free to contact me...I'd love to hear from you!
Alan Wilke
Condos@PalmSpringsCondoLiving.Com
760-464-6693
