Inventory of Homes for Sale Shrinks to A New Low in July 2013
Not even the Desert's summer heat could stop the influx of home buyers to the Palm Springs area in search of a house or condo to buy. Folks are trying to beat the season's rush of Snowbirds & the anticipated increase in prices due to the higher demand when our Desert Season starts in October. Inventory of houses & condos for sale in July was at the lowest since January of 2013. A 29% decrease in the number of homes available for sale, and a 29% decrease in the number of condos available for sale . The Median Selling Price of houses in the Palm Springs area ( 9 cities & an incorporated area) is up by 34.8% in July 2013 vs July 2012 , while the Average Selling Price went up by 23.6 % for the same period. The condos numbers came up too , with the Median Selling Price at 20% up & the Average Selling Price saw an increase of 5.5% for July 2013 vs July 2012 for all combined cities. But the major cities like Palm Springs , Palm Desert & La Quinta saw doubl