April was a busy month in Palm Springs and for The Paul Kaplan Group. Our company closed escrow on approximately 50 homes. The following is a 30-day Analysis of the Palm Springs Real Estate Market, with numbers provided by our local Board of Realtors, PSRAR.
Palm Springs has been the Coachella Valley's price leader for some time. The median price is for single family homes is 9.3% above the all-time high made in 2006. It is the only city in the Coachella Valley to surpass its 2006 high, for single family homes. For detached homes, prices have recovered the best from the 2006, in Palm Springs, as compared to other cities in the valley.
Sales slowed over the past three months in Palm Springs. Considering the large increase in the median price of Palm Springs over the last five years, its natural to see sales slow down a little as prices continue to rise.
The latest "Sale Price Discount from List" is -2.2%, which is .5% less than a year ago for the Coachella Valley. This ratio means an average home listed for $300,000 in the three months of February, March and April, sold at a $6,600 discount from its list price.
For more information on the Palm Springs real estate market, please contact the Paul Kaplan Group at 760-459-1396, or visit us online at www.PaulKaplanGroup.com.