MARKET UPDATES AND STATS FOR  PALM SPRINGS REAL ESTATE    
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After 4 years into this economy, and meeting with hundreds of buyers, many went home frustrated, without purchasing, because the market did not meet their expectations. We owe it to you, as you are visiting this website, to give you the tools you need to set up your expectations based on REAL DATA and not "hearsay".
See the charts below. ALL the numbers are based on MLS data covering the cities of Palm Springs, Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Sun City Del Webb, ONLY

The "Sold" transactions ,  mean closed transactions for sales that happened traditionally 30 days before hand.

Results for April 2012
Total homes sold : 686 month over month a 0.5% increase and 17% year over year
Total homes in "pending" (under contract ready to close) : 522
Total homes in "back up offer" (still under contingencies, mainly short sales waiting for bank's approval) : 806 A great majority of these 806 might have to wake up in a few months empty handed and get to choose a different property from an even  smaller inventory at a higher price.
Median price for condos : $257,900  a slight increase
Median price for single family : $ 440,125 a 10% increase month over month
Total Bank Owned (REO's) sold in April 2012: 95 a 25% decrease month over month  that explains the increase in median price
Total Short Sales sold in April 2012: 53 - 14.5% decrease.  Fewer shortsales closed because the banks are not working fast enough
Total Bank Owned (REO's) active in May  2012: 83 a 30% month over month decrease and 69.5% decrease year over year. Less REOs on the market and prices are going up.
Total Short Sales active in May 2012:156, a 20% month over month decrease
Total Inventory for the cities we cover : 2742  10% decrease compared to  April and 30% decrease year over year. The inventory for short sales + REOs is just about 9% of the total inventory, compared to the 16% average during the past year.

Results for March 2012
Total homes sold : 645 month over month a 25% increase
Total homes in "pending" (under contract) : 514
Median price for condos : $255,600 more than 5% increase month over month
Median price for single family : $399,825 
Total Bank Owned (REO's) sold in March 2012: 124 a 37% increase.
Total Short Sales sold in March 2012: 62
Total Bank Owned (REO's) active in April 2012: 123, a 13% month over month decrease. Less REOs on the market.
Total Short Sales active in April 2012:186, a 5% month over month decrease
Total Inventory for the cities we cover : 3040 a 8% decrease compared to  March. The inventory for short sales + REOs is just about 10% of the total inventory, compared to the 16% average during the past year.

We are really starting to see the change in the market by comparing the number of short sales and Bank Owned ,available for sale,  decreasing significantly and consequently prices are going up slowly, but it is happening.

Results for February 2012
Total homes sold : 479
Median price for condos : $241,100 more than 20% increase month over month
Median price for single family : $433,066  WOW! compare to $303,500
Total Bank Owned (REO's) sold in February 2012: 78 a 20% decrease
Total Short Sales sold in February 2012: 65
Total Bank Owned (REO's) active in March 2012: 142, a 25% month over month decrease
Total Short Sales active in March 2012:239, a 5% month over month decrease
Total Inventory for the cities we cover : 3372 approximately the same as in February. The inventory for short sales + REOs is just about 11% of the total inventory, compared to the 16% average during the past year.

January 2012 results
Total homes sold : 396
Median price for condos : $191,650
Median price for single family : $303,357
Total Bank Owned (REO's) sold : 98 a 20% increase
Total Short Sales sold : 43
Total Bank Owned (REO's) active in February 2012: 189 a 13% month over month increase
Total Short Sales active in February 2012:246 a 5% month over month increase
Total Inventory for the cities we cover : 3152 approximately the same as in December. The inventory for short sales + REOs is just about 14% of the total inventory.

November 2011 results
Total homes sold : 385
Median price for condos : $222,100
Median price for single family : $497,580
Total Bank Owned (REO's) sold : 79 a 15% decrease reflecting the fact that less Bank Owned inventory on the market.
Total Short Sales sold : 55
Total Bank Owned (REO's) active in December 2011: 167 a 9% month over month decrease
Total Short Sales active in December 2011:237 a 9% month over month decrease
Total Inventory for the cities we cover : 3169 a 9% month over month decrease. The inventory for short sales + REOs is just about 13% of the total inventory, this is slightly down compared to last month.The number of distressed properties in the cities we cover has come down. that tells us something about where the prices will go next.

October 2011 results
Total homes sold : 361 a 10% month over month decrease - potential buyers come to Palm Springs and leave empty handed and frustrated because they expect a VERY DISTRESSED Market and in fact our market IS NOT
Median price for condos : $240,618 almost 9% increase
Median price for single family : $341,830 a slight decrease
Total Bank Owned (REO's) sold : 106 a 12% increase explaining the drop in median prices
Total Short Sales sold : 54 no change also impact the median price
Total Bank Owned (REO's) active in November 2011: 186  month over month about the same
Total Short Sales active in November 2011:265 a slight  month over month decrease
Total Inventory for the cities we cover : 3412 an 11% month over month increase. The inventory for distressed properties short sales + REOs is  just about 13% of the total inventory, this is a drop of 3% month over month.

September 2011 results
Total  homes sold  : 390 a 10%  month over month decrease 
Median price for condos  : $224,600 almost 7% increase
Median price for single family : $358,750 a slight increase
Total Bank Owned (REO's) sold : 95 a 16% decrease reflecting the same decrease as total sale
Total Short Sales sold : 56 a 10% decrease reflecting the same decrease  as total sale
Total Bank Owned (REO's) active in October 2011: 188  a 7% month over month decrease
Total Short Sales active in October 2011:281 a 12%  month over month increase
Total Inventory for the cities we cover : 3008  an 18% month over month increase.  The inventory for short sales + REOs is just about  16% of the total inventory, this is the same month over month.  Short sales represent a growing number while the REOs number is shrinking.

August 2011 results
Total  homes sold  : 434- a 10%  month over month decrease 
Median price for condos   : $210,035
Median price for single family : $350,358
Total Bank Owned (REO's) sold : 113 a 10% month over month increase
Total Short Sales sold : 62
Total Bank Owned (REO's) active in September2011: 202-  a 10% month over month decrease
Total Short Sales active in September 2011:250 a 15%  month over month decrease
Total Inventory for the cities we cover : 2553-  an 18% month over month decrease in inventory short sales + REOs just about  17% of the total inventory : month over month the same

Total  homes sold in July 2011 : 441- a 27% decrease compared to June 2011
Median Price in July all inclusive : $321,540- a 9.5% increase compared to June Median Price
Total Bank Owned (REO's) Sold in July 2011 : 102 a 33% decrease
Total Bank Owned (REO's) Active in August 2011: 219- almost the same as last month
Total Short Sales Active in August  2011:297 - almost the same as last month
Total Inventory for the cities in table : 2933- short sales + REOs less than 17% of the total inventory

Total  homes sold in June 2011 : 597 - a 1% decrease
Median Price in June all inclusive : $302,318- a 4.8% decrease compared to May Median Price
Total Bank Owned (REO's) Sold in June 2011 : 154 a 20% increase
Total Bank Owned (REO's) Active in June 2011: 214- another 8% decrease
Total Short Sales Active in June  2011:299 - a 1% decrease
Total Inventory for the cities in table : 3132- short sales + REOs less than 16% of the total inventory

Total  homes sold in May 2011 : 609 - a 10% increase
Median Price in May all inclusive : $317,737 - a 1.5% decrease compared to March Median Price
Total Bank Owned (REO's) Sold in May 2011 : 127 a slight increase
Total Bank Owned (REO's) Active in June 2011: 228- another 16% decrease
Total Short Sales Active in June  2011:303 - a 10% decrease
Total Inventory for the cities in table : 3251- short sales + REOs less than 16% of the total inventory

Data covering April1, 2011 thru April 30,2011
Total  homes sold in April  2011 : 569 - a slightly lower number (4 units I would say it is the same)
Total Bank Owned (REO's) Sold in April 2011 : 121 just about the same as last month
Total Bank Owned (REO's) Active in May 2011: 272 - just about the same as last month
Total Short Sales Active in May  2011:337 - almost the same as last month
Total Inventory for the cities in table : 3858- Short sales + REOs almost 16%  of the total inventory

Data covering March 1, 2011 thru March 31,2011

Total  homes sold in March 2011 : 573 - a 27% increase
Median Price in March all inclusive : $332,204 - an 8% decrease
Total Bank Owned (REO's) Sold in March 2011 : 122 a 25% increase
Total Bank Owned (REO's) Active in April 2011: 275 - a 13% decrease
Total Short Sales Active in April  2011:339 - a 9.5% decrease
Total Inventory for the cities in table : 4854- short sales + REOs less than 13% of the total inventory

Total  homes sold in February 2011 : 450
Median Price in February all inclusive : $364,495
Total Bank Owned (REO's) Sold in February 2011 : 96
Total Bank Owned (REO's) Active in March 2011: 315
Total Short Sales Active in March 2011:359 

Total  homes sold in December 2010 : 440
Median Price in December all inclusive : $302,677
Total Bank Owned (REO's) Sold in December 2010 : 133
Total Bank Owned (REO's) Active in January 2011: 327
Total Short Sales Active in January 2011: 410