Home Sales & Prices In Several Cities Increase, Inventory Continues To Shrink
Both sales and prices of desert homes and condos in several desert cities were on the rise again during the first quarter of 2012 compared to the same period of ‘11. Over $608 million of desert property was sold during the first quarter in the five most active desert cities listed below.
- Home Sales In Indian Wells: Sales +21.05% / Average sales price +11.90% to $917,983
- La Quinta: Sales +9.35% / Average sales price +3.28% to $588,105
- Palm Desert: Sales +3.45% / Average sales price +1.93% to $455,488
- Palm Springs: Sales +2.07% – Average sales price -1.93% to $428,130
- Rancho Mirage: Sales -4.26% – Average sales price -7.96% to $578,496
- Indio: Sales -9.46% – Average sales price +2.09% to $308,879
Related Article: “With Inventory Down, New Home Builders Are Back”
Data Source: Desert Area MLS sales of homes and condos that sold for $200,000 and higher in the first quarter of 2012 compared to 2011. Data compiled by Sheri Dettman & Associates©. Disclosure: Data is deemed to be accurate but cannot be guaranteed.