Palm Springs CA - Palm Desert CA - Market Statistics

INVENTORY DROPS - DAYS ON MARKET DECREASES - MONTHS SUPPLY OF INVENTORY AT 2 YEAR LOW

As the statistical chart below shows the Palm Springs -Palm Desert area real estate market is continuing to show a steady drop in the inventory of available homes for sale. Days on market has declined from 90+ to about 83 as of this writing and we are beating the national average on Months Supply Of Inventory.

Important to note is the ABSORPTION RATE.  The rate at which homes are being purchased is reflected in the MSI figure. For Example in December of 2007 we had a 23 month supply of inventory with 8,458 homes on the market where as in December 2008 we had  a 14 month supply of inventory with almost the same number of homes on the market. Tracking this is where you will see the market improving.

Month-Year/ MSI-local/ MSI-National Avg/Total Homes on Market
 

Jul-09 /5.8/ 6.8/ 5,647

Jun-09 /6.3 /7.2 /6,220

May-09 /7.0/ 8.1/ 6,850

Apr-09 /7.4 /9.0 /7,510

Mar-09 /7.8/ 11.4/ 8,018

Feb-09 /12.1 /13.2 /8,299

Jan-09 /12.0/ 16.4/ 8,212

2008

Dec-08 /14.6 /13.3 /8,111

Nov-08 /15.5/ 15.8/ 8,249

Oct-08 /13.2 /11.2 /7,900

Sep-08 /11.6/ 11.7/ 7,520

Aug-08 /12.2 /12.2 /7,369

Jul-08 /11.9/ 11.4/ 7,553

Jun-08 /13.4 /12.3 /7,979

May-08 /11.6/ 11.9/ 8,261

Apr-08 /11.2/ 12.7 /8,713

Mar-08 /12.9 /15.7/ 8,952

Feb-08 /14.8 /21.1 /9,003

Jan-08 /17.4/ 22.7/ 8,903

2007

Dec-07 /23.0 /19.5 /8,485

Nov-07 /18.6/ 24.0/ 8,665

Oct-07/ 23.9/ 24.4/ 8,357

Sep-07/ 26.4 /45.3 /7,525

Aug-07 /23.4/ 15.7/ 7,065

Jul-07 /16.6 /14.7/ 7,215



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Single Family Residence Sales YTD Palm Spring March 20 2009