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Mid-Year 2011 Palm Springs Area Real Estate Update

Palmilla 700 5427 Palm Springs Real EstatePalmilla waterfront homes in La Quinta

90% Year-To-Date Sales Increase Over 2010
With our mid-year date of June 30th about a week away we (Sheri Dettman & Associates) are experiencing a whopping 90% increase in sales volume year-to-date versus the same period of 2010. We’ve noticed that many of our buyers this year actually started their property searches with us in ‘08 or ‘09. They had been watching and waiting and are now taking advantage of some great real estate opportunities that our team helped them to discover.

Contrary to many of the national real estate stories, I will again go on record as saying that real estate is indeed local. And our real estate gets even more locally-dependent based on the price segment, the city, the gated community and even each individual property. These are just a few of the things we consider for each of our clients.

Palm Springs Area Inventory Improving From The Bottom Up

Inventory levels here in the desert continue to improve from the bottom up with some gated communities reporting supplies lasting just a few months. And so far this year we have also recorded a 300% increase in our home luxury sales (over $1 million) over the same period of 2010.

Buyers in increasing numbers from all over the world continue to have our Palm Springs area on their radar and don’t seem to be the least bit interested in being cold or wet again next winter. Many people are surprised to hear that our summer sales typically only decrease 7% from winter, so 2011 looks to be a stellar year for us proving once again that real estate is local.

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