July 2011 Sales Analysis

The following sales analysis compares July 2011 sales data with data from the preceding month (June 2011) and the previous year (July 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

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

June 2011 Sales Analysis

The following sales analysis compares June 2011 sales data with data from the preceding month (May 2011) and the previous year (June 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

South Palm Springs - South of Ramon Road

	June 2011	May 2011	June 2010
Condos Sold	44	55	50
Price Range	$43,000 - $515,000	$35,000 - $455,000	$67,250 - $709,000
Average Price	$207,616	$182,056	$205,722
Average Square Feet	1,541	1,347	1,485
Price/Square Foot	$130.16	$130.05	$133.85
Days on Market	98	116	X
% Distressed Sales (REO or Short Sale)	34%	29%	40%

Sales in May in South Palm Springs were good.  While not as good in June at least they weren't bad.  Number of condos sold dropped by 20% from May and 10% from June of 2010.  However, the price range paid for those sold condos was in line with the earlier periods, although not quite as high as June 2010.  The average price paid, though, was highest in June compared with May 2011 or June of 2010.  Part of the reason for this was the fact that the average condo sold in June was larger than the earlier periods...by almost 200 square feet over May.  After all is said and done the price per square foot for all three periods is almost identical, with only a slight decrease over last year.  The system, for some unknown reason, did not keep track of days on market during June 2010, any of the regions, but in 2011 June had considerably fewer days on market than in May.  Approximately one-third of all condo sales in South Palm Springs were distressed properties in June, more than in May of 2011 and fewer than June 2010. 

Central Palm Springs - Between Ramon Road and Vista Chino

	June 2011	May 2011	June 2010
Condos Sold	30	23	28
Price Range	$54,000 - $630,000	$29,300 - $575,000	$80,000 - $610,000
Average Price	$161,794	$193,452	$214,244
Average Square Feet	1,173	1,331	1,409
Price/Square Foot	$121.53	$139.32	$144.94
Days on Market	99	93	X
% Distressed Sales (REO or Short Sale)	43%	22%	46%

In May it was a question of quality over quantity regarding the sales in Central Palm Springs.  This month it's the quantity only!  Had more sales than either May of 2011 or June of 2010.  And the price range was good, too, with the highest sale of any of the three periods happening this month.  However, the average sales price dropped a lot...by over $30,000 compared with May and by over $50,000 compared with June of 2010.  Part of the problem is the size of the average condo sold in June.  It was over 150 square feet smaller than May and over 240 square feet smaller than June 2010.  The price paid per square foot of condo also averaged considerably less than the other time periods.  Days on market were in line with the number of days from May.  The percent of sales that were distressed properties jumped to 43% compared with 22% in May.

North Palm Springs - North of Vista Chino

	June 2011	May 2011	June 2010
Condos Sold	16	11	12
Price Range	$29,500 - $275,000	$38,000 - $215,000	$43,000 - $165,000
Average Price	$92,558	$100,568	$88,292
Average Square Feet	993	1,086	813
Price/Square Foot	$90.05	$89.67	$104.39
Days on Market	84	135	X
% Distressed Sales (REO or Short Sale)	69%	64%	83%

Once again, North Palm Springs bucks the trend of the other regions.  Total condos sold, while not great compared with the other regions was higher than May or June of last year.  The range of prices paid was good, with the highest price paid in the region paid this month.  The average price paid was better than last June, but not as high as May.  The average size of a sold condo was also bigger than last year, but not as big as May.  The average price per square foot was a bit bigger than May and considerably less than June of last year.  The number of days on market was a lot less than in May.  Any interesting note is related to distressed sales.  Over all time periods the greatest percentage of condos that are distressed are in North Palm Springs. 

All in all the sales scenario in Palm Springs was decent in June.  South Palm Springs had lower quantity, but the prices were good.  Central Palm Springs had good sales figures, but the prices were lower.  North Palm Springs had good sales numbers, but the prices were lower here, too.  An interesting note is that in June 2011 there were 90 condos sold in Palm Springs.  In May 2011 there were 89 condos sold in Palm Springs.  And in June 2010 there were 90 condos sold in Palm Springs.  Almost identical sales numbers, although the sales prices are lower compared with last year.

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

May 2011 Sales Analysis

The following sales analysis compares May 2011 sales data with data from the preceding month (April 2011) and the previous year (May 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

South Palm Springs - South of Ramon Road

	May 2011	April 2011	May 2010
Condos Sold	55	34	51
Price Range	$35,000 - $455,000	$60,000 - $325,000	$41,500 - $410,000
Average Price	$182,056	$178,284	$178,030
Average Square Feet	1,347	1,494	1,385
Price/Square Foot	$130.05	$125.25	$124.57
Days on Market	116	140	87
% Distressed Sales (REO or Short Sale)	29%	29%	43%

After a lackluster April it's nice to see some better numbers out of South Palm Springs.  Condos Sold in May were a lot higher than April and a little better than May of 2010.  The range of prices paid was also higher than either of the earlier periods, especially vs. April.  The average price paid for a condo was higher in May than the other earlier periods by about $4,000 per condo.  The size of the average condo sold was similar to the earlier periods...a bit smaller than April 2011 and a bit bigger than May 2010.  The price per square foot paid for a condo in May was also higher than the other time periods by about $5.00.  The number of Days on Market was shorter than April, but longer than May 2010.  The percent of condos sold that were distressed was tied with April, but a lot better than a year ago.  All things considered May 2011 was a good month in South Palm Springs.

Central Palm Springs - Between Ramon Road and Vista Chino

	May 2011	April 2011	May 2010
Condos Sold	23	28	28
Price Range	$29,300 - $575,000	$58,500 - $600,000	$43,000 - $370,000
Average Price	$193,452	$154,936	$141,264
Average Square Feet	1,331	1,106	1,129
Price/Square Foot	$139.32	$137.26	$125.61
Days on Market	93	86	85
% Distressed Sales (REO or Short Sale)	22%	39%	43%

Sometimes it's question of quality over quantity, and that's the story this month in Central Palm Springs.  There were only 23 sales in May, less than April 2011 or May 2010.  But the range of prices paid had some higher numbers...on par with April and a lot higher than May 2010.  This led to the highest average price paid for a condo of any of the time periods...by a lot.  However, the average condo that sold in May was also a lot bigger, by 200 square feet, than April 2011 and May 2010.  But the price per square foot paid for a condo managed to stay higher than either of the earlier time periods...a bit higher than April and quite a bit higher than May 2010.  Days on Market was just about a week longer than either April 2011 or May 2010.  The most striking statistics in Central Palm Springs, though, is the low number of distressed sales compared with regular sales.  I suspect that this has a lot to do with currently low inventory levels of foreclosure or short sale properties on the market.

North Palm Springs - North of Vista Chino

	May 2011	April 2011	May 2010
Condos Sold	11	15	13
Price Range	$38,000 - $215,000	$30,000 - $316,000	$43,000 - $220,000
Average Price	$100,568	$99,947	$106,150
Average Square Feet	1,086	923	947
Price/Square Foot	$89.67	$100.38	$109.13
Days on Market	135	133	78
% Distressed Sales (REO or Short Sale)	64%	40%	69%

As usual, North Palm Springs bucks the trend of the other regions.  11 condos were sold in May, fewer than April 2011 or May 2010.  The range of prices paid for these condos was also lower in May, a lot less than April and just a bit less than May 2010.  Surprisingly the average purchase price in May was on par with the other time periods...a bit higher than April 2011 and a larger amount less than May 2010.  The reason for this is because the average condo was about 150 square feet bigger than either of the other earlier time periods.  The price paid per square foot takes this into account and in May this statistic was lower than either April 2011 or May 2010 by over $10.00 per square foot compared with April and by almost $20.00 per square foot compared with May 2010.  The number of Days on Market was also highest of any of the time periods.  The most distressing statistic in North Palm Springs was the number of distressed properties that were sold...a lot more than April and a bit more than May 2010.  Given the peak sales season in May the sales figures in North Palm Springs are not great.

Overall the sales scenario in Palm Springs was not bad in May.  South and Central Palm Springs had good sales figures and the prices were decent.  The trend continued of North Palm Springs having not great sales, but given the smaller numbers here the impact isn't so great on the total picture.  I'm curious to see how things will play out in the typically quiet summer season.

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

March 2011 Sales Analysis

The following sales analysis compares March 2011 sales data with data from the preceding month (February 2011) and the previous year (March 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

South Palm Springs - South of Ramon Road

	March 2011	February 2011	March 2010
Condos Sold	57	35	46
Price Range	$44,000 - $495,000	$57,750 - $500,000	$32,000 - $570,000
Average Price	$205,696	$198,084	$195,396
Average Square Feet	1,531	1,481	1,372
Price/Square Foot	$131.19	$134.19	$137.57
Days on Market	130	120	135
% Distressed Sales (REO or Short Sale)	32%	37%	33%

I'm happy to report two months in a row of good sales in South Palm Springs!  While February had much better sales than January, March has the greatest number of units sold of any month this year at 57.  The range of prices paid was more or less equal during the three time periods, although there was a higher price paid in March 2010 than either March or February of this year.  The average price paid for a condo was higher this month than either last month or last year.  One unusual feature of this month's statistics is the size of the average condo...a large 1,531 square feet.  This fact caused the price per square foot to be the lowest last month than February 2011 or March 2010, but not by a lot.  Number of days on market was more or less equal during the three periods as was the percentage of sold properties that were distressed.  All in all a decent month in South Palm Springs.

Central Palm Springs - Between Ramon Road and Vista Chino

	March 2011	February 2011	March 2010
Condos Sold	32	16	25
Price Range	$72,000 - $620,000	$55,000 - $305,000	$25,000 - $625,000
Average Price	$167,572	$132,037	$204,452
Average Square Feet	1,268	1,037	1,338
Price/Square Foot	$129.59	$125.74	$143.52
Days on Market	85	108	120
% Distressed Sales (REO or Short Sale)	38%	58%	44%

Sales in Central Palm Springs also took off in March vs. February.  The number of units sold (32) was higher than the previous month (100% increase) as well as higher than March of 2010, too.  The range of prices was also double the high price in March 2011 over February 2011 and it was equal with March 2010.  The average price paid for a condo in March was higher than February, but almost a 20% drop over the average of March 2010.  Part of this discrepancy has to do with the size of the average condo sold being smaller by 70 square feet than the average sold last year.  The price per square foot was down from last year, but only by about 10% and was a bit higher than last month.  The really good news vs. the other periods is days on market.  The average condo sold in a rapid 85 days in March.  Other good news is the percentage of distressed properties which was lowest in March vs. the other time periods.  Not as good as South Palm Springs, but sales in Central Palm Springs were good in March, too.

North Palm Springs - North of Vista Chino

	March 2011	February 2011	March 2010
Condos Sold	15	11	14
Price Range	$32,000 - $160,000	$43,000 - $285,000	$28,957 - $285,000
Average Price	$92,923	$95,908	$112,458
Average Square Feet	1,044	895	934
Price/Square Foot	$89.84	$102.87	$108.57
Days on Market	98	112	58
% Distressed Sales (REO or Short Sale)	40%	27%	71%

The number of condos sold in North Palm Springs was an improvement over last month and last year, but otherwise the month was not spectacular.  The range of prices paid was considerably less than both February 2011 and March 2010.  The average price paid was lowest of the three time periods, but not by much vs. February.  However, when you consider that the average size of a condo sold in March 2011 was a lot bigger than either time period the numbers take a turn.  This is seen in the price per square foot which is a lot lower in March than the previous February or March 2010.  Days on market was satisfactory at 98 days and this was less than February but much longer than March 2010.  Distressed sales were also a mixed bag, with 40% sales being distressed in March 2011.  This is an increase over February and a decrease over March 2010.  Unfortunately, North Palm Springs is the one negative region in an otherwise good sales picture in March 2011. 

As I mentioned above South and Central Palm Springs had good sales in March 2011, but North Palm Springs was not so good.  On the bright side, North Palm Springs represents much fewer condo sales than the other regions so a bad month only here does not make a dramatic impact.  Overall, I think the sales figures for March 2011 look good and I'm eagerly anticipating the sales data for the upcoming warmer season.

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

Top Luxury Second Home Markets

Probably doesn't have a lot to do with the typical property we discuss here at Palm Springs Condo Living, but Barron's magazine has just ranked it's annual list of the best luxury second home markets.  And while this was no surprise to us Palm Springs lovers,  Palm Springs ranked a very respectable 11th on the list.  For the complete article click on the link below:

http://online.barrons.com/article/SB50001424052970203979804576152351515182700.html?mod=TWM_pastedition_1#articleTabs%3Darticle

Median price for this type of property in the greater Palm Springs area: $3.3 Million.  Again, this isn't the usual condo we focus on at Palm Springs Condo Living, but it does raise the issue that property values, at least in the luxury market that they're writing about, are increasing.  And sometimes it's just nice to dream!

February 2011 Sales Analysis

The following sales analysis compares February 2011 sales data with data from the preceding month (January 2011) and the previous year (February 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

South Palm Springs - South of Ramon Road

	February 2011	January 2011	February 2010
Condos Sold	35	16	22
Price Range	$57,750 - $500,000	$54,900 - $400,000	$55,000 - $535,000
Average Price	$198,084	$162,469	$168,873
Average Square Feet	1,481	1,316	1,388
Price/Square Foot	$134.19	$117.59	$119.44
Days on Market	120	116	79
% Distressed Sales (REO or Short Sale)	37%	38%	50%

January started the new year pretty poorly, sales-wise, in South Palm Springs, so it's nice to see such great sales as we had in February!  The number of condos sold in February more than doubled those sold in January and was also a lot higher than last year's sales.  The range of prices for all time periods was more or less in the same range.  The big jump happened in the average price, which is $30,000 more than either last month or last year.  Part of this increase was because the average condo sold in February was a bit larger than either of the two previous time periods by at least 100 square feet.  However, the average price per square foot was still highest in February than last month or last year.  The number of days on the market jumped up a lot over last year, but was consistent with January.  The percent of sales that were distressed properties stayed lower at 37% vs. 50% last year.  All things considered February in South Palm Springs was a good month.

Central Palm Springs - Between Ramon Road and Vista Chino

	February 2011	January 2011	February 2010
Condos Sold	19	18	16
Price Range	$55,000 - $305,000	$47,500 - $310,000	$70,000 - $610,000
Average Price	$132,037	$185,972	$236,619
Average Square Feet	1,037	1,294	1,450
Price/Square Foot	$125.74	$140.95	$158.30
Days on Market	108	122	126
% Distressed Sales (REO or Short Sale)	58%	44%	25%

Sales in Central Palm Springs, unfortunately, did not catch the same wave that was experienced in South Palm Springs, although it wasn't horrible at all.  The number of units sold was actually higher than the other time periods.  The range of prices is where we really see the difference, with the high price being half as much as it was in February of 2010, although it was consistent with last month.  This obviously effected the average price paid for a condo, dropping it down over $100,000 from last year and $50,000 from last month!  Part of the issue this month is that the size of the average condo sold was a lot smaller than the other time periods.  The average price per square foot, while lower, is not dramatically so when compared with the price range issue.  Days on market was actually the lowest of the time periods, but the percent of distressed sales was the highest.  All in all it was a mixed bag in Central Palm Springs.

North Palm Springs - North of Vista Chino

	February 2011	January 2011	February 2010
Condos Sold	11	5	13
Price Range	$43,000 - $285,000	$50,000 - $105,000	$42,500 - $237,800
Average Price	$95,908	$68,650	$88,028
Average Square Feet	895	734	729
Price/Square Foot	$102.87	$93.70	$115.30
Days on Market	112	105	53
% Distressed Sales (REO or Short Sale)	27%	40%	54%

After the horrible start to the year February, like South Palm Springs, was a decent month in North Palm Springs.  Total sales were more than double last month, although since January only had 5 sales doubling that isn't such a big deal!  But the price range was good and included the highest price paid in all time periods.  This naturally impacted the average price paid for a condo, giving February 2011 the highest figure of all time periods.  However, part of this comes from the fact that the average size of a condo sold was 150 square feet bigger in February than last month or last year.  So on a price per square foot basis February 2011 was higher than January 2011, but not as high as February 2010.  Days on market was the highest of all three time periods in February.  But the percent of condos sold that were distressed was a low 27% in February, considerably less than the earlier time periods.  While not quite as robust as the sales experienced in South Palm Springs sales in North Palm Springs did well.

In my January sales analysis Central Palm Springs was the one bright spot.  This month the other regions were hot and Central Palm Springs was the one low point.  The recovery we are experiencing, in fits and starts, will need to be consistent across regions to really have legs.  While there were some bright spots in February, there were also some not so bright features.  Stay tuned for more as the real estate scene continues changing!

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

January 2011 Sales Analysis

The following sales analysis compares January 2011 sales data with data from the preceding month (December 2010) and the previous year (January 2010). Data is analyzed by region in the city: South Palm Springs, Central Palm Springs, and North Palm Springs.

South Palm Springs - South of Ramon Road

	January 2011	December 2010	January 2010
Condos Sold	16	35	16
Price Range	$54,900 - $400,000	$46,999 - $350,000	$100,000 - $350,500
Average Price	$162,469	$182,783	$226,581
Average Square Feet	1,316	1,300	1,437
Price/Square Foot	$117.59	$137.56	$159.57
Days on Market	116	108	126
% Distressed Sales (REO or Short Sale)	38%	31%	13%

The start of the new year did not bring spectacular sales to South Palm Springs.  The number of units sold was equal with January of last year.  The big drop in sales from December shows how few people are looking to purchase property around the holidays.  Typically, people making offers in December would be closing escrow in January.  The range of prices sold is similar with last year on the high end, but the low end has dropped a lot from last year.  This can be seen even more clearly when we analyze the average price paid year over year...a drop of $64,000!  The average size is a bit smaller in January 2011 than January 2010.  The average price per square foot also took a huge drop of $42.00 this January compared to last.  Days on market is a bit better at 116 days vs. 126 days.  But the percent of sales that are distressed properties has almost tripled in the past year to represent 38% of all condo sales in South Palm Springs.

Central Palm Springs - Between Ramon Road and Vista Chino

	January 2011	December 2010	January 2010
Condos Sold	18	18	19
Price Range	$47,500 - $310,000	$57,000 - $575,000	$61,500 - $330,000
Average Price	$185,972	$149,161	$164,763
Average Square Feet	1,294	1,177	1,169
Price/Square Foot	$140.95	$120.95	$137.52
Days on Market	122	91	111
% Distressed Sales (REO or Short Sale)	44%	67%	47%

Conversely, sales in Central Palm Springs looked pretty good in the new years.  There was no seasonal drop in sales, with quantity sold being equal with December and January of 2010.  The range of prices sold was similar on the low end with the preceding month and year, but a big drop from the high end of December.  However, I think the high in December may be attributable to one or two sales only because the average price sold in January 2011 was a lot higher than the average for last month and last year.  The average size condo sold in January was about 10% bigger than the preceding month.  The average price per square foot was mostly equal to last year, but a big increase of $20 over December 2010.  Average days on market took a big increase to a full month longer to sell than the most recent period of December 2010.  However, the percent of all condo sales that were distressed sales dropped down to 44%, a number similar to a year ago, but a big decrease from last month.

North Palm Springs - North of Vista Chino

	January 2011	December 2010	December 2009
Condos Sold	5	12	12
Price Range	$50,000 - $105,000	$41,000 - $211,000	$48,000 - $241,000
Average Price	$68,650	$91,917	$109,733
Average Square Feet	734	908	963
Price/Square Foot	$93.70	$95.96	$111.18
Days on Market	105	73	62
% Distressed Sales (REO or Short Sale)	40%	75%	67%

Unfortunately, sales in North Palm Springs for the start of the year are looking more like South Palm Springs rather than Central Palm Springs.  Quantity sold in January 2011 is a dismal 5 units, less than half of what was sold last month and in the corresponding month of last year.  The range of prices sold was similar to earlier periods on the low end, but the highest priced sale is less than half that of the previous periods.  This can be seen clearly in the average sale price which is a huge drop from last month and last year.  However, part of the issue is that only smaller condos sold this month as the average square feet is a lot less than earlier periods.  This helps the average price per square foot which is similar to last month, although it is a drop from last year.  Days on market took a big leap up over 100 days in January, a lot more than previous periods.  But, happily, the percent of all condo sales that were distressed was only 40%...a big drop from last month and last year.  However, how much of a trend can we call when there were only 5 units sold?

The one bright spot on the sales scene is Central Palm Springs.  Most of the statistics in this region are better than they were last month and last year.  However, sales in South Palm Springs and North Palm Springs were down so much that, overall, the sales scenario is still down from last year.  For sellers it appears that the market is still challenging.  For buyers, make the most of it, because this is your time!

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