Desert Cities Real Estate Market Activity: November 2015
Forget national trends: real estate is local, and each market is unique.
At the close of business yesterday - Monday, November 30 - market activity figures on both single family detached homes, as well as condominiums and townhomes, cumulative for all eight of the principal incorporated Desert Cities - Cathedral City, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, and Rancho Mirage - and including unincorporated areas, such as Sky Valley, Thousand Palms, and Bermuda Dunes, showed available inventory active for sale to be up - way up - in our area, and sales - closed sales, as well as pending sales - to be significantly down.
Interestingly, this is even as average and median closing prices continued to inch their way upward, the length of days on market declined, and the percentage of actual closing sale prices - against asking prices - held steady at right about 97%.
Check the charts from Infosparks, courtesy of TheMLS: