The Realty Trac figures just came out for the Coachella Valley for sales in October 2010. The new market statistics for sales in October are very interesting.
651 total sales
476 sales $100-$299,000
131 sales $300-$599,000
31 sales $600-$999,999
13 sales $1,000,000 -$1,999,999
73% of the sales were under $300,000
Only 2% are over $1,000,000
Lower priced homes are selling much faster for many reasons. There are more foreclosure and short sales in the lower ranges. Also, financing is easier to get in the lower price ranges.
In the $600,000-$899,999 range in Palm Desert, there have been 6 homes for sale and only one sold in the past 12 months. This means the time to sell is 72 months or 6 years.
Buyers have great advantages in this market in the Coachella Valley, but the good news is that homes are selling and prices are still very low.
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
