Sun City Stats

Hi All

Here are the Sun City Stats for the month of February

There are 168 active listings--from $177,500 for a CA. Casual (1160') to $$799,000 for a Tuscany (3200') on the golf course.

There were 12 "contingent other" sales --these are sales contingent on financing or just waiting for the contingency period to be over before moving to "pending". Of these 2 were under $300,000, 8 were between $300,00 -$500,000, 2 were over $500,000.

There are 16 pending sales of which 4 are under $300,000, 12 between $300,000 and $500,000, 2 that are over $500,000

There were 12 properties that closed escrow from $200,000for a Gorham (1157') to $550,000 for a Portofino (2909')

The Desert Sun, on Sunday had a 3 page article on the state of the market in the Coachella Valley. In a few words:

Sales in 2009 were up 25% over 2008; Overall volume is down $15% (dollars spent),; Of the 9,238 homes sold 8204 sold for $500,00 or less; The average sales price of homes under $500,000 was $182,369, down 22% from 2008;The sale of homes priced from $500,000 to $750,000 fell 21 %.
Prices are so low that prospective buyers with cash, a golden credit record, resilient investment portfolio and job security are swooping in to snag homes at prices not seen in nearly a decade.