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  • Cathi & Ben Walter
  • Sales & Marketing Specialist, Realtor
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
  • F:
  • E: Cathi@DesertAreaHomeFinder.com
  • DRE# 01346930
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A Message From Cathi & Ben...

We hear similar stories repeated in different ways from our clients; At first, they look forward to stolen weekend's to golf & relax in the desert - they gradually discover they're crafting ways to spend more time here until it becomes clear, life just doesn't get any better than this."

Once that realization hit's, the process of change begins... We know what an extraordinary commodity your home is - buying or selling a home can be one of the most important decisions you will make and having the right team on your side will make the difference.

We specialize in homes throughout the Palm Springs Valley including Palm Desert Real Estate & Homes, Indian Wells Real Estate & Homes, La Quinta Real Estate & Homes, Rancho Mirage Real Estate & Homes, Palm Springs Real Estate & Homes& Indio Hills Real Estate & Homes. Whether you want to buy or sell an estate, lock & leave property with income potential, a resort property, land to build your dream home, or a property located in a country club or golf community we know the desert and are here to help. Our motto, If its important to you, it's important to us, guides us as we help our clients buy or sell a home in the desert.

Thank you for visiting DesertAreaHomeFinder.com, we hope you find our site helpful and we look forward to speaking with you it's easy, just click on the picture of a cell phone in the upper right corner of this web site and it will ring our cell phone directly.

Personal Messages

First 3 Quarter Desert Real Estate Market Review

Market Review

 

We continue to keep a close eye on the Desert Real Estate Market Review, looking for Trends in Time, Average Price and Price Bands to see Where the Action is in the Market and What Segments have a change from the same time period one year ago.

Palm Springs:
2014                       2015
589 Sales               672 Sales               14% increase in sales
$609,635               $630,558               3% increase in average price
$270/ Sq Ft           $286/ Sq Ft           6% increase in average price / square foot
109 DOM               101 DOM               7% decline in time on market

Rancho Mirage:
2014                       2015
280 Sales               264 Sales               6% decline in sales
$819,502               $800,784               2% decline in average price
$251/ Sq Ft           $247/ Sq Ft           2% decline in average price / square foot
144 DOM               146 DOM               1% increase in time on market

Palm Desert:
2014                       2015
446 Sales               499 Sales               12% increase in sales
$560,547               $542,650                3% decline in average price
$207/ Sq Ft           $213/ Sq Ft            3% increase in average price / square foot
124 DOM               126 DOM                2% increase in time on market

Indian Wells:
2014                       2015
123 Sales               123 Sales                 No change
$1,270,246           $1,141,368           10% decline in average price
$324/ Sq Ft           $318/ Sq Ft            2% decline in average price / square foot
190 DOM               155 DOM                18% decline in time on market

La Quinta:
2014                       2015
703 Sales               791 Sales               13% increase in sales
$637,966               $620,497                  3% decline in average price
$225/ Sq Ft           $225/ Sq Ft              No change
127 DOM               131 DOM                  3% increase in time on market

Cathedral City:
2014                       2015
359 Sales               416 Sales               16% increase in sales
$249,879               $283,357               13% increase in average price
$144/ Sq Ft           $162/ Sq Ft           13% increase in average price / square foot
95 DOM                101 DOM               6% increase in time on market

Indio:
2014                       2015
654 Sales               819 Sales               25% increase in sales
$287,033               $299,462                  4% increase in average price
$145/ Sq Ft           $147/ Sq Ft              1% increase in average price / square foot
106 DOM               114 DOM                  8% increase in time on market

SUMMARY
The Valley is made up of several “Micro Markets” each with its own characteristics; for example, in the first 9 months of 2015 there has been an increase in the number of sales from 2014 to 2015 across the Valley with the strongest segment between $200,000 – $600,000 which represents more than 70% of the sales in the Valley.

There are a couple of notable exceptions; Rancho Mirage has seen a decline in the number of sales, prices and the price per square foot.  Indian Wells has seen a decline in prices and the average price per square foot with the number of sales holding steady. Palm Desert and La Quinta have seen in increase in sales, but a decline in prices.

Luxury home sales or the upper tier pricing bands; the number of sales drop as prices increase in any market, however an interesting detail is the number of sales for homes priced between $900,000 – $999,000 this price band is down by more than one half to just 6 sales per month.  The price band between $1m – $1.5m, picks up from there to an average of 22 sales per month.

Markets will act as markets do; a sustained decline in the number of sales precedes a decline in prices – as sales slow, prices must adjust to meet market expectations for sales to pick up again.

2015 Action Index by Price Band (Palm Springs to Indio)

$200,000-$400,000           (213 sales / month)
$400,000-$600,000           (  90 sales / month)
$600,000-$800,000           (  41 sales / month)
$800,000-$1m                   (  19 sales / month)
$1m – $1.5m                      (  22 sales / month)
$1.5-$2m                           (  10 sales / month)
$2m +                                (    8 sales / month)

The strong American Dollar compared to other currencies, such as the Canadian dollar, has had an impact on the demographics of our Buyer.  In recent years past, the Canadian Buyer represented as much as 31% of our sales – today, the buyer is more likely to be domestic coming from the States and most likely, from our drive-markets such as Orange, LA & San Diego Counties.

Included with this detailed analysis is a Running Chart we’ve developed showing a nine year look back at our Desert Real Estate Market.  We’ve had our difficulties, like every real estate market in the country, but the trend shows an ever advancing trend forward in sales and prices.

If you would like more information about your community, just give us a ring today or send us an email; we’re happy to help.    

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Get In Touch

  • Cathi & Ben Walter
  • REALTOR ®
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
  • E: Cathi@DesertAreaHomeFinder.com
  • CalBRE# 01346930

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