subject: Palm Springs Real Estate Market Comparison Report (march 2009 Vs. March 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Palm Springs Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Palm Springs Real Estate has Not shown any significant signs of improvement. Median sales price fell though sellers received 97% of asking price as compared to 90 % last year.Units sold also increased and median days on the market fell.
Key Statistics, Palm Springs , CA: Median Sales Price (-34.67%), Median Days on Market (-42.75%), and Number of Units Sold (450.00%), Sales Price to List Price Ratio (March 09 90% - March 10 97%)
Palm Springs Real Estate
The city of Palm Springs experienced a 34.67% decrease in median sales price from last year going down from $537,000 (March 09) to $350,809 (March 2010). Median days on market data for Palm Springs show that houses are selling faster than March 09. It took 145 days in March 09 for a house to sell and for March 10 that number has gone down to 83 days (a 42.75% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 2 units were sold compared to 11 for March 10 (450.00% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Palm Springs. SP/LP ratio for March 09 was 90% compared to 97% for March 10.
Lets take a brief look at neighbors Redlands and San Bernardino. Redlands Real Estate featured a 12.41% decrease in median sales price ($297,191 March 09 - $260,303 March 10) and San Bernardino Real Estate saw an 10.96% increase ($101,286 March 09 - $112,392 March 10). Are houses in Redlands and San Bernardino selling faster or slower this year? Well, Redlands experienced a 4.45% increase (79 to 82 days) in median days on market and San Bernardino saw a 22.87% decrease (72 to 56 days). In the units sold category, Redlands sold 2 units more (4.26%) in March 2010 than 09 and San Bernardino sold 82 units less (-26.11%) in March 2010 than March 09.
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