First Quarter Palm Springs Real Estate Sales Up In 5 of 6 Desert Cities

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Sheri Dettman & Associates release first quarter sales and pricing data for Palm Springs area real estate. Sales rise in five of six desert cities. Average sales prices also up for second homes.

Waterfront home at Palmilla, La Quinta

It appears that buyers of resort lifestyle homes and condos in increasing numbers are continuing to take advantage of some of the best real estate opportunities in over a decade

Sheri Dettman, Principal Realtor of Sheri Dettman & Associates in La Quinta announced today that residential property sales rose in five of six Palm Springs area cities during the first quarter of 2012 compared to the same period in 2011.

Indian Wells recorded the largest sales increase with home sales rising 21.05% over 2011. La Quinta and Palm Desert followed with sales increases of 9.35% and 3.45% respectively. Palm Springs home and condo sales increased by 2.07% over Q1 of ‘11.

Average Sale Price Increases
The average sale price for desert area homes priced at $200,000 and higher (where most second home buyers gravitate to) increased in four of six Palm Springs area cities. Indian Wells again lead the way with the average sale price rising 11.90% to $917,983. La Quinta was up 3.28% to $588,105 and Palm Desert average home prices increased 1.93% to $455,488.

Over $608 million in desert property was sold during the first quarter of 2012 within the cities of La Quinta, Indian Wells, Palm Desert, Rancho Mirage, Palm Springs and Indio.

“It appears that buyers of resort lifestyle homes and condos in increasing numbers are continuing to take advantage of some of the best real estate opportunities in over a decade,” said Sheri. “Rising sales over the last 18 months though have been causing inventory to shrink over the last six months.”

About Sheri Dettman & Associates
Sheri Dettman & Associates is associated with Luxury Homes by Keller Williams Realty, the second largest residential realty company in North America. Sheri completed 74 sales transactions in 2011 in golf and country club communities throughout the Palm Springs area and in all price segments. Additional information about Palm Springs area real estate can be found at: http://www.YourResortHome.com

Data Source: Desert Area MLS® compiled by Sheri Dettman & Associates.

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