Palm Springs, California had some interesting sales statistics for June, 2011. What intrigued me is that my own Sales number almost directly reflect what the CDAR report states..my own business is running almost equal between Equity Sales and Distressed Sales. The Equity Sales seem to be in the higher end, which means that median number they always throw around should be going up..if other Agents are seeing the same thing I am...
Market recovery has to include rising fair market (equity) transactions as well as sales in ALL price ranges to appear more stable, and that is wehat's happening here in the desert.
714 Existing family homes sold in June from Palm Springs to Coachella, including unincorporated Bermuda Dunes..this would be for Palm Springs, Cat City, Rancho Mirage, La Quinta, Indian Wells, Desert Hot Springs, Palm Desert, Indio and Coachella. That's only a slight dip from June of 2010 when 747 units sold. Of the total sales, only 48% were Short Sales or Distressed properties..meaning that 52% were NOT!
Condos saw a slight decrease in sales in June at 227 over 229 last year, but the median went up meaning the more expensive units are selling. Of total sales, only 37% were Short Sales or bank-owned..a large 63% were Equity Sales.
It just feels much, much better here in the resort desert that I live and work in...and that's a good thing!
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