Home Prices in Palm Desert Region Rising

La Quinta
Real estate in South La Quinta, (south of Highway 111) consists of numerous homes on the market that are tailored more for people who prefer a resort type of lifestyle, gated communities, golf courses, country clubs, and vacation homes. However, not all communities have golf courses so there is a range to choose from.
Inventories of existing homes for sale in La Quinta’s went up marginally, accompanied by a 1 percent rise from August 2013. The median list price in La Quinta is $498,900, the median sale price is $385,000 and the median home value index is $369,000.
Inventory: 513 Recently Sold: 184 New Listings: 152 Distressed: 2

Indian Wells

Home sales in the Indian Wells market continued to cool down as of Sept, 17th, due to the fact they tumbled 6.2% during the past 30 days to only 15 homes sold . In contrast, Palm Springs had the greatest number of sales for all cities in the region with 115. According to HomeSnap, $701,000 is the median home price for Indian Wells, which indicates an increase from $592,500 for the period ending Sept 17, 2013. For lower prices, buyers should look for older homes.
Inventory: 126 Recently Sold: 28 New Listings: 9 Distressed: 1
As of September 2013, Indian Wells’s home resale inventories experienced a dramatic drop, with a 15 percent decrease since August 2013.

Rancho Mirage
The average household income is above $68,000, but real estate in Rancho Mirage is actually reasonably priced, particularly considering the deep history in the region. Prices for single-family residences average a little more than $600,000. The median home price according to Zillow is $465,500 as of Sept 23, 2013 which represents a 21% year over year increase. The home price index is second to Indian Wells in the region which comes in at $688,200.
Rancho Mirage’s home resale inventories moved higher, with the help of a 12 percent increase since August 2013.
Inventory: 356 Recently Sold: 97 New Listings: 78 Distressed: 1