Sun City Palm Desert Stats-November

There are 199 active listings presently on the market, from $229,000 for 1283 sq. ft to $1,025,000 for a Marseille on a double lot on the fairway.

From 11/01/08 to 11/30/08 there were 6 pending sales , from $229,000 for 1366 sq. ft, to $529,900 for a St. Tropez at 2588 sq. ft.

For the same period, there were 5 solds from $250,000 for 1548 sq. ft to $389,000 for a Montego with casita at 2034 sq. f. These were probably all put in escrow before the financial meldown on wall street.

If you look back at my blogs on stats for the previous months you can really tell the difference. However, the president of Real Data Strategies said Palm Desert has a "healthy" market so not as many foreclosures , therefore not as many sales. Palm Desert had 12% more sales this year than last and prices were down 16% over last year. Indio saw price declines of 45% from a year ago. Obviously more people had bad loans, in that area ,with all the new construction.

Interessting facts

C.A.R (California Assn. of Realtors) statistics for Oct. :

1. C.A.R,'s Unsold Inventory Index for existing single-family detached homes in October 2008 was 5.9 months compared with 15.2 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

6 month statistics

In Sun City Palm Desert there were 82 sales in the last 6 months. But, most of those were probably executed before the October melt down in the stock market.
The average price was $380,000 with days on the market between 105 and 150 days. The longer a property remained on the market the less % of List Price the owner realized. )-30 days the price was 95.98% of List Price. 120 days or more owners received only 93% of list price

Customer Satisfaction

Online tools may be popular among homebuyers and sellers, but the 2008 J.D Power and Associates Home Buyer/Seller Study finds that a quality real estate agent is the key to customer satisfaction with real estate companies.
The study finds that more than two-thirds of buyers (68%) used the internet to help them during the purchase process and 61% of sellers marketed their home on the Web. Still , among both buyers and sellers, the biggest factor affecting customer satisfaction was the agent's ability to serve the client
Prudential ranked highest among home sellers, with a score of 793 out of 1000.

Foreclolosires

Everyone wants to know about foreclosures in Sun City Palm Desert.
Fortunately, Sun City has not had the rate of foreclosures that other areas of Riverside County have endured. There were only 5 foreclosures of June to Sept. sales. Our sales were down but that is because we don't have as many foreclosures.
As of last month, I had heard that the board was looking into 12 homes which are behind on their HOA dues.
Prices have dropped here, no doubt, and there has been a shift from the higher priced homes to the lower priced homes.
As of this AM there were 197 homes presently listed. Since Oct. 1 there have been 11 pending sales.
Thre were fewer Notices of Default filed last week than in many weeks. Let's hope that is a sign.

Sun City Palm Desert Stats for October

As of Oct. 31

There were 177 active listings from $215,000 for a Gorham (1157') to $1,025,000 for a Marseille on the golf course (2938')

There were 11 closed escrows from $235,000 for a Calif. Casual (1110') to $600,000 for a Monterey (former model) (2439')

There were 4 pending sales from $299,000 L.P. for a Barbados (1394') to $429,000 for a Montego with casita.

The median price of the sold properties was $380,000 and the average price per sq. ' was $214.22

You can go back to some of the old blogs and compare .