market update

Palm Springs -

Average Sales Price
  Single Family 2004 1186 Closings $ 547,186
    2005 929 Closings $ 655,110
    2006 647 Closings $ 683,544
    2007 613 Closings $ 686,996
    2008 - 1st half 267 Closings $ 593,078
    % Change in 2008 price: 13.7% Decrease
   
  Condos 2004 1414 Closings $ 218,593
    2005 1222 Closings $ 287,868
    2006 838 Closings $ 328,450
    2007 692 Closings $ 295,746
    2008 - 1st half 324 Closings $ 249,560
    % Change in 2008 price: 15.6% Decrease
     
Average Days on Market
  Single Family 2004 57  
    2005 77  
    2006 103  
    2007 110  
    2008 - 1st half 112  
   
  Condos 2004 34  
    2005 57  
    2006 87  
    2007 113  
    2008 - 1st half 113  
 
Lowest Sales Price
  Single Family 2004 $ 49,600  
    2005 $ 127,000  
    2006 $ 130,000  
    2007 $ 100,750  
    2008 - 1st half $ 74,900  
         
  Condos 2004 $ 51,250  
    2005 $ 83,500  
    2006 $ 106,000  
    2007 $ 61,000  
    2008 - 1st half $ 75,000  
 
Highest Sales Price
  Single Family 2004 $ 3,400,000  
    2005 $ 3,600,000  
    2006 $ 3,950,000  
    2007 $ 4,800,000  
    2008 - 1st half $ 2,850,000  
   
  Condos 2004 $ 582,500  
    2005 $ 799,000  
    2006 $ 1,224,000  
    2007 $ 978,006  
    2008 - 1st half $ 745,000  
Average Sale Price - 2005
   
Single Family
Condo
 
  2 bedroom
$ 485,974
$ 267,217
 
  3 bedroom
$ 585,689
$ 371,261
 
  4 bedroom
$ 815,467
$ 295,500
 
  5 bedroom +
$ 1,456,531
None
 
Average Sale Price - 2006
  2 bedroom
$ 483,720
$ 297,861
 
  3 bedroom
$ 621,918
$ 440,851
 
  4 bedroom
$ 888,810
$ 479,000
 
  5 bedroom +
$ 1,398,708
None
 
Average Sale Price - 2007
  2 bedroom
$ 491,928
$ 277,287
 
  3 bedroom
$ 592,942
$ 371,592
 
  4 bedroom
$ 893,110
$ 225,000
 
  5 bedroom +
$ 1,865,881
None
 
Average Sale Price - 2008 (1st half)
  2 bedroom
$ 375,314
$ 238,355
 
  3 bedroom
$ 529,447
$ 290,218
 
  4 bedroom
$ 777,137
None
 
  5 bedroom +
$ 1,431,250
None
 
 
 

All information deemed to be reliable, although not warranted or guaranteed. Source MLS.


 

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