The National Association of Real Estate Investment Trusts recently reported that most commercial real estate sectors in the U.S. are experiencing improvements as a result of better economic conditions.
In La Quinta, California, residential real estate market sales are not only on the rebound, but are the best they have been since 2004 and 2005, The Desert Sun reports.
Between January 1 and June 30, there have been 777 residential real estate sales in La Quinta, with 657 in the city's southern part and 120 in the north, the news source states. Of these sales, 658 were single-family residences, with the rest being condos.
These numbers are an improvement over the 586 sales that took place in La Quinta in 2008, according to the news outlet. The 2011 figure is a slight improvement over the 749 transactions from this time last year.
In addition to a higher number of sales, La Quinta properties saw a median price increase in the first half of 2011, from $299,000 to $330,000, which translates to a $31,000 median sales gain.