At the end of October, there were 4,086 active residential listings in the Palm Springs and surrounding resort communities of Rancho Mirage, Palm Desert, Indian Wells and La Quinta. Although our current real estate inventory is slowly increasing, we continue to see a low inventory of homes for sale on market (5.7 months of inventory for the combined cities as the sold properties for the last six months totaled 4,383).
The relatively low inventory indicates we are in a neutral real estate market in the Greater Palm Springs area.
What does a neutral market mean for you? If you are planning to sell your home in the Greater Palm Springs area, this is a perfect time. Sales prices are slowly increasing.
If you are a buyer, the market is moving up and finding the right home is challenging. Low inventory and concerns that our low interest rates may be on the rise means it is more important now than ever to work with a real estate professional familiar with the local communities of Palm Springs, Rancho Mirage, Palm Desert, Indian Wells and La Quinta.
Sellers, to capitalize on a return on your investment your real estate professional needs to understand the local marketplace, the internet market and offer you substantial advertising resources.
We are predicting an active season in the desert real estate marketplace!