January 2012 Sales Analysis

The following sales analysis compares January 2012 sales information with data from the preceding month (December 2011) and the previous year (January 2011). Data from all three regions of Palm Springs (South, Central, and North Palm Springs) is analyzed together.

Palm Springs

	January 2012	December 2011	January 2011
Condos Sold	69	92	39
Price Range	$35,000 - $550,000	$34,000 - $515,000	$47,500 - $400,000
Average Price	$152,153	$153,685	$161,288
Average Square Feet	1,366	1,281	1,231
Price/Square Foot	$109.59	$115.37	$125.31
Days on Market	115	109	128
% Distressed Sales (REO or Short Sale)	41%	40%	41%

(Note to blog followers...I've started analyzing the data in Palm Springs by the city as a whole, not by region any longer.)

The number of condos sold in January, at 69, was a steep drop from the 92 sales that occurred in December, but in comparison with the 39 total sales in January of 2011 it was a great increase.  The months of December and January are one of the reasons we look at the preceding month as well as the previous year when we do a sales analysis.  January closings are always lower because this would typically mean the buyers were writing offers in December, which doesn't happen too much because of the holidays.  So comparing year over year in January is probably a better way to analyze the data and when doing so 2012 is off to a great start...at least when we examine the number of properties sold.  The range of prices was also good in January...an improvement over December and January of last year.  However, the average price paid, while in line with December did drop when compared with last January.   The average size condo in January was the largest of the three time periods analyzed.  This led to a bit lower price per square foot paid in January than December and a substantially lower price per square foot compared with January 2011.  The number of days on the market was a bit longer than in December and shorter than January 2011.  And the percent of sales that were distressed properties was near constant at 40-41% over all three time periods analyzed. 

I think the data shown speaks of good news for the year to come.  There were a good number of sales in January, especially when compared with last January.  This tells me that there are a lot of buyers looking for condos.  As always, though, these buyers are looking for deals as we can see by the prices paid.  But the range of prices was higher this year than last which tells me that buyers will pay higher prices if the properties seem worth it.  The length of time needed to sell a property dropped so I'm hopeful that banks and other sellers are getting deals done faster than before.  And while 40-41% of all sales being distressed properties may sound like a lot it is actually a lower percentage than in other communities.  Palm Springs presently has fewer distressed properties for sale.  The question is how long with that last?  Tune in next month to see what transpires in February!

If you have any questions or comments regarding this data please feel free to contact me...I'd love to hear from you!

Alan Wilke
Condos@PalmSpringsCondoLiving.Com
760-464-6693

December 2011 Sales Analysis

The following sales analysis compares December 2011 sales data with data from the preceding month (November 2011) and the previous year (December 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

	December 2011	November 2011	December 2010
Condos Sold	51	23	35
Price Range	$40,000 - $460,000	$38,600 - 385,000	$46,999 - $350,000
Average Price	$159,201	$161,574	$182,783
Average Square Feet	1,369	1,424	1,300
Price/Square Foot	$111.24	$109.78	$137.56
Days on Market	102	109	108
% Distressed Sales (REO or Short Sale)	39%	39%	31%

Central Palm Springs - Between Ramon Road and Vista Chino

	December 2011	November 2011	December 2010
Condos Sold	27	19	18
Price Range	$57,000 - $515,000	$58,000 - $602,500	$57,000 - $575,000
Average Price	$168,160	$205,563	$149,161
Average Square Feet	1,272	1,248	1,177
Price/Square Foot	$131.68	$149.51	$120.95
Days on Market	131	88	91
% Distressed Sales (REO or Short Sale)	33%	37%	67%

North Palm Springs - North of Vista Chino

	December 2011	November 2011	December 2010
Condos Sold	14	13	12
Price Range	$34,000 - $265,000	$40,000 - $141,900	$41,000 - $211,000
Average Price	$105,679	$69,046	$91,917
Average Square Feet	984	816	908
Price/Square Foot	$98.98	$84.91	$95.96
Days on Market	92	57	73
% Distressed Sales (REO or Short Sale)	57%	38%	75%

If you have any questions or comments regarding this data please feel free to contact me...I'd love to hear from you!

Alan Wilke
Condos@PalmSpringsCondoLiving.Com
760-464-6693

November 2011 Sales Analysis

The following sales analysis compares November 2011 sales data with data from the preceding month (October 2011) and the previous year (November 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

	November 2011	October 2011	November 2010
Condos Sold	23	20	30
Price Range	$38,600 - $385,000	$55,000 - $410,000	$70,000 - $370,000
Average Price	$161,574	$162,650	$191,800
Average Square Feet	1,424	1,336	1,623
Price/Square Foot	$109.78	$119.14	$116.68
Days on Market	109	87	150
% Distressed Sales (REO or Short Sale)	39%	40%	27%

Central Palm Springs - Between Ramon Road and Vista Chino

	November 2011	October 2011	November 2010
Condos Sold	19	20	19
Price Range	$58,000 - $602,500	$20,000 - $328,000	$50,500 - $350,000
Average Price	$205.563	$157,231	$168,164
Average Square Feet	1,248	1,364	1,196
Price/Square Foot	$149.51	$111.52	$138.71
Days on Market	88	95	101
% Distressed Sales (REO or Short Sale)	37%	35%	37%

North Palm Springs - North of Vista Chino

	November 2011	October 2011	November 2010
Condos Sold	13	10	7
Price Range	$40,000 - $141,900	$39,000 - $215,000	$35,000 - $168,800
Average Price	$69,046	$94,750	$80,361
Average Square Feet	816	963	912
Price/Square Foot	$84.91	$95.84	$84.81
Days on Market	57	61	75
% Distressed Sales (REO or Short Sale)	38%	40%	86%

If you have any questions or comments regarding this data please feel free to contact me...I'd love to hear from you!

Alan Wilke
Condos@PalmSpringsCondoLiving.Com
760-464-6693

October 2011 Sales Analysis

The following sales analysis compares October 2011 sales data with data from the preceding month (September 2011) and the previous year (October 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

	October 2011	September 2011	October 2010
Condos Sold	20	33	29
Price Range	$55,000 - $410,000	$47,000 - $389,000	$59,000 - $435,000
Average Price	$162,650	$185,088	$186,471
Average Square Feet	1,336	1,415	1,494
Price/Square Foot	$119.14	$127.90	$128.47
Days on Market	87	102	111
% Distressed Sales (REO or Short Sale)	40%	45%	28%

Central Palm Springs - Between Ramon Road and Vista Chino

	October 2011	September 2011	October 2010
Condos Sold	20	13	15
Price Range	$20,000 - $328,000	$51,000 - $349,000	$29,500 - $400,000
Average Price	$157,231	$184,808	$155,745
Average Square Feet	1,364	1,283	1,277
Price/Square Foot	$111.52	$137.83	$127.83
Days on Market	95	93	142
% Distressed Sales (REO or Short Sale)	35%	38%	73%

North Palm Springs - North of Vista Chino

	October 2011	September 2011	October 2010
Condos Sold	10	12	15
Price Range	$39,000 - $215,000	$27,500 - $185,000	$37,500 - $197,500
Average Price	$94,750	$80,725	$118,079
Average Square Feet	963	873	987
Price/Square Foot	$95.84	$88.18	$112.33
Days on Market	61	96	62
% Distressed Sales (REO or Short Sale)	40%	67%	73%

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

September 2011 Sales Analysis

The following sales analysis compares September 2011 sales data with data from the preceding month (August 2011) and the previous year (September 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

	September 2011	August 2011	September 2010
Condos Sold	33	39	28
Price Range	$47,000 - $389,000	$54,000 - $308,000	$29,000 - $350,000
Average Price	$185,088	$147,854	$150,779
Average Square Feet	1,415	1,205	1,386
Price/Square Foot	$127.90	$123.12	$108.71
Days on Market	102	86	115
% Distressed Sales (REO or Short Sale)	45%	36%	43%

The number of condos sold in September in South Palm Springs was right in the middle of those sold in the earlier two time periods at 33 units.  The range of prices paid was in line with the earlier time periods, although September did have the highest price paid.  The average price paid for a condo was a lot higher than the earlier periods by over 20%.  However, the average size condo was also bigger in September...much bigger than August and a bit bigger than September 2010.  When looking at the price per square foot, though, September still had the higher number of the three time periods.  The number of days on market was right in the middle of the two earlier time periods.  But the percentage of condos sold that were REOs or Short Sales was the highest of the three time periods.  Other than the high number of distressed properties sold September 2011 was a decent month in South Palm Springs.

Central Palm Springs - Between Ramon Road and Vista Chino

	September 2011	August 2011	September 2010
Condos Sold	13	18	11
Price Range	$51,000 - $349,000	$51,000 - $556,000	$30,000 - $400,000
Average Price	$184,808	$138,178	$143,409
Average Square Feet	1,283	1,039	1,007
Price/Square Foot	$137.83	$121.30	$133.89
Days on Market	93	121	107
% Distressed Sales (REO or Short Sale)	38%	61%	64%

In Central Palm Springs the number of condos sold in September was not as high as in August, but better than last September.  The range of prices paid on the low side was okay, but the high price was the lowest of the three time periods.  However, the good news is that the average price paid for a condo in September is a lot higher, by over $40,000 per unit, than the earlier two time periods.  However, part of the reason for this is because the average size condo in September was also a lot bigger than the two earlier periods...by over 200 square feet per unit.  But the price per square foot in September still was the best of the three time periods.  The number of days on market was also better (shorter = better) than the two earlier time periods.  And the percent of condos sold that were distressed was the lowest, by far, of all three time periods.  Aside from not having the highest number of condos sold September in Central Palm Springs was a good month. 

North Palm Springs - North of Vista Chino

	September 2011	August 2011	September 2010
Condos Sold	12	7	10
Price Range	$27,500 - $185,000	$42,000 - $205,000	$42,000 - $235,000
Average Price	$80,725	$92,071	$94,445
Average Square Feet	873	903	940
Price/Square Foot	$88.18	$95.49	$93.81
Days on Market	96	104	117
% Distressed Sales (REO or Short Sale)	67%	43%	80%

The number of condos sold in North Palm Springs in September was the highest of the three time periods.  However, the positive news ends there!  The range of prices paid was the lowest in all three time periods.  This led to the lowest average price paid of the three time periods.  The average size of a condo sold in September was the smallest of the three time periods.  The average price per square foot paid in September was also the lowest of the three time periods.   A bright spot is that the number of days on the market was the shortest in September than the other two time periods.  And the percent of condos sold that were distressed was 67%...halfway in-between the figures for the earlier two time periods.  Other than having a higher quantity of condos sold in North Palm Springs compared with the other time periods September was not a great month.

It's interesting to note that, as usual, South and Central Palm Springs had mostly similar results and North Palm Springs was the outlier.  Both Central and South had not the highest quantity sold, but prices were up.  In the North the quantity sold was up, but they were a lot less expensive.  Across the board the number of days needed to sell condos wasn't bad, but the number of distressed properties sold did seem to creep up, except in Central Palm Springs.  For all you bargain hunters it does appear that there are still quite a few distressed properties out there waiting to be picked up, however, pricing does appear to be stabilizing...mostly.

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

August 2011 Sales Analysis

The following sales analysis compares August 2011 sales data with data from the preceding month (July 2011) and the previous year (August 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

	August 2011	July 2011	August 2010
Condos Sold	39	35	31
Price Range	$54,000 - $308,000	$52,500 - $560,000	$36,500 - $388,000
Average Price	$147,854	$186,422	$173,203
Average Square Feet	1,205	1,477	1,390
Price/Square Foot	$123.12	$123.43	$121.77
Days on Market	86	102	110
% Distressed Sales (REO or Short Sale)	36%	31%	55%

Sales were greatest in South Palm Springs in August than in the two earlier periods.  Unfortunately the price range was the lowest.  The average price paid for a condo was also lowest in August, by a lot, than the earlier time periods.  Part of the issue, though, was the fact that the average condo sold was a lot smaller than July or August of last year.  So the average price per square foot in August was actually right in line with the other time periods.  Days on market was the shortest of any time period.  The percent of condos sold that were distressed was also just a bit over last month an a lot less than last year.  All in all August was not a bad month in South Palm Springs.

Central Palm Springs - Between Ramon Road and Vista Chino

	August 2011	July 2011	August 2010
Condos Sold	18	21	9
Price Range	$51,000 - $556,000	$54,300 - $$530,000	$59,500 - $175,000
Average Price	$138,178	$166,086	$105,500
Average Square Feet	1,039	1,189	923
Price/Square Foot	$121.30	$131.04	$116.63
Days on Market	121	117	176
% Distressed Sales (REO or Short Sale)	61%	52%	67%

The number of condos sold in August in Central Palm Springs was a bit less than last month, but a lot higher than August 2010.  And the range of prices paid was highest of the earlier time periods...a lot higher than last year and a little higher than last month.  However, the average price paid was a lot less than last month, but was a lot higher than last year.  Here also part of the issue was that the average size of a condo sold in August was a lot smaller than the average last month and it was also a lot larger than the average sold last year.  When comparing price per square foot the average paid in August was lower than July, but higher than August 2010.  Days on market was just a bit longer than July and a lot shorter than August 2010.  The percent of condos sold that were distressed was larger than July and smaller than August of last year.  Compared with July's sales the August numbers are not as good, but compared to August 2010 this past August was a better month.

North Palm Springs - North of Vista Chino

	August 2011	July 2011	August 2010
Condos Sold	7	16	6
Price Range	$42,000 - $205,000	$42,000 - $279,000	$113,500 - $250,000
Average Price	$92,071	$123,478	$164,367
Average Square Feet	903	1,162	1,208
Price/Square Foot	$95.49	$102.11	$142.55
Days on Market	104	66	92
% Distressed Sales (REO or Short Sale)	43%	56%	33%

Once again, sales in North Palm Springs were different from the other areas of the city. The number sold was a lot less than last month, but similar with last year.  The range of prices paid was lower than the other time periods, but not by a lot.  However, the average price paid in August was a lot lower than the two earlier time periods.  Part of the issue here, like in other regions, was that the average size sold was a lot smaller in August.  But the price per square foot paid in August was the lowest of the three time periods, in fact, a lot less than August 2010.  Days on market was also the highest in August than the other time periods.  The percent of condos sold that were distressed properties was smaller than last month, but higher than last year.   Not a good month in North Palm Springs.

Across the board sales in August in Palm Springs were not as good as in July.  The number sold wasn't so bad, but pricing was lower than the preceding month.  Compared with August 2010 the sales in August were down in South and North Palm Springs and up in Central Palm Springs.  The slower season will end with the September sales and then the tourist season will begin in October.  It will be interesting to see what happens in the busier Fall and Winter time periods.

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

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