This month we are going to start with some changes in the way we will be transacting real estate in much of the United States, and then our regular monthly market report.
CHANGES:
CHICAGO (August 1, 2024) – The National Association of Realtors® reminds members, real estate professionals, and consumers that on August 17, 2024 the practice changes following NAR’s Settlement Agreement that would resolve claims brought on behalf of home sellers related to broker commissions will be implemented across the country.
NAR recommends all MLSs implement practice changes by August 17. Realtor® MLSs (those owned exclusively by one or more Realtor® Associations) must implement the changes by this date to remain in compliance with NAR policy.
Under the settlement, the following practice changes will take effect:
- Offers of compensation will be prohibited on Multiple Listing Services (MLSs). Offers of compensation will continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers—especially first-time homebuyers—increase homeownership opportunities for historically underserved groups, and benefit sellers by expanding the potential buyer pool and ensuring they receive the best offer possible for their property.
- Agents working with a buyer must enter into a written buyer agreement before touring a home. The practice changes do not require an agency agreement or dictate any type of relationship. NAR encourages all members to address form changes and prepare to educate real estate professionals and consumers about revised forms as soon as possible ahead of August 17. NAR policy does not dictate terms of buyer agreements, but NAR has created resources to assist with implementation of the settlement terms—such as tips on clarity and emphasizing consumer choice and a “Written Buyer Agreements 101” resource.
SOURCE:
MARKET REPORT:
The chart below shows the home sales activity in the neighborhood for the month of July 2024 (and the preceding 12 months for comparison).
The final selling prices for this month ranged from a low of $390,000 for 77205 Minnesota Avenue to a high of $545,000 for 42815 Tennessee Avenue.
If you want me to make selling your home seem easy, do not hesitate to contact me.
To see everything that’s currently for sale in the neighborhood, click here. If the neighborhood properties don’t automatically populate, just type in “Palm Desert Country Club” in the search bar.
And if you just want to hang out for a while and are looking for places to stay, click here.
| Month |
# of |
Average |
Average |
Average |
# Sold AT Original Price |
# Sold |
| July 2024 |
5 |
87 | $472,400 | $439,800 | – |
1 |
| June 2024 |
9 |
43 | $434, 409 | $423,211 | – |
3 |
| May 2024 |
6 |
57 | $513,750 | $497,333 | 1 |
1 |
| April 2024 |
2 |
31 | $511,950 | $524,500 | – |
1 |
| March 2024 |
12 |
44 | $504,833 | $485,292 | – |
4 |
| February 2024 |
7 |
66 | $519,414 | $513,986 | 2 |
2 |
| January 2024 |
5 |
104 | $476,900 | $450,160 | – | |
| December 2023 |
6 |
35 | $477,750 | $480,533 | – |
1 |
| November 2023 |
4 |
48 | $463,250 | $457,500 | 1 | |
| October 2023 |
4 |
29 | $571,850 | $560,000 | – | |
| September 2023 |
3 |
54 | $539,967 | $510,000 | – |
– |
| August 2023 |
4 |
58 | $578,225 | $565,750 | 1 |
– |
| July 2023 |
4 |
75 | $540,350 | $518,500 | 1 |
1 |
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