Another sign of an improving market we've noticed is that prices seem to be stabilizing for homes and luxury condos priced from $500,000 to $999,999. In our breakdown by city below, note that three out of four of these desert cities showed a price decline of only 0.5% to 1% over the same period of '08. That said, it is still a buyers market although inventory is starting to tighten up in many communities.

1/1/09 to 8/3/09 Sales by City from $500,000 to $999,999

#1) La Quinta

  • '09 Y-T-D: 149 sales  / $697,469 average sale (-1%)
  • Same period of '08: 195 sales / $704,228 average sale

#2) Rancho Mirage

  • '09 Y-T-D: 74 sales / $681,026 average (-0.5%)
  • Same period of '08: 152 sales / $685,067 average sale

#3) Palm Desert

  • '09 Y-T-D: 59 sales / $651,497 average (-0.5%)
  • Same period of '08: 137 sales ($653,128 average)

#4) Indian Wells

  • '09 Y-T-D: 38 sales / $664,471 average (-5%)
  • Same period in '08 - 45 sales ($699,233 average)