Current market information

According to an article in The Desert Sun, Bob Thomas, lead field consultant for Real Data Strategies, has made this one-year trend observations for the first quarter of 2010:

“Cathedral City remains in recovery mode. There's been an erosion in average sales price of 5.3 percent; year-over-year, sales are flat at 211 units. The ratio between the list price and sale price is moving into the 90 percent level — and that gets buyer attention in this market. The home sale average was $171,588.”

Additionaly, MDA DataQuick of San Diego reported Tuesday that housing sales in
Southern California's real estate market year-over-year were flat in April, but median
prices rose 15 percent compared with April 2009, according to The Desert Sun:

“The DataQuick report on regional activity contrasts with an analysis of data done for The Desert Sun that shows Coachella Valley sales up nearly 58 percent from two years ago and up 17 percent from last year.”

“Real Data Strategies' analysis of the Multiple Listing Service for The Desert Sun also shows affordability is at 60 percent and the average sales price grew 16 percent to $290,952 in the first quarter of 2010 compared to the same period in 2009.”

“The market's still taking baby-steps on a long road to recovery, trying to find its footing,'' John Walsh, DataQuick president, said in a statement published in The Desert Sun . “It's unclear which of today's sales characteristics are part of a new reality, and which are still temporary turbulence.”