After months of rising sales and falling prices, Palm Springs area real estate trends began to even out in November with the median home price holding steady in November at $225,000, which is down 39.8% from November '07.
There were 633 Coachella Valley homes sold during the month - up 3.1% from November '07 but down 25.8% from October according to DataQuick® which tracks sales stats.
November Market Snapshot:
- 470 Single-family resale home sales - up 56.1% from November '07
- 101 Resale condos sold - down 19.2% from '07
- 62 New homes sold - down 67% from '07
- Entry-level communities of Bermuda Dunes and Indio saw year-over-year sales increases in the triple digits as buyers took advantage of low prices
Average sales price for selected valley cities for November '07:
- Indian Wells $990,819
- Rancho Mirage $538,335
- La Quinta $484,387
- Palm Desert $380,827
- Palm Springs $316,634
- Bermuda Dunes $178,750
- Indio $205,744