Why Live in University Neighborhood
Located off Interstate 10 and quietly tucked away on the north side of Palm Desert, University Neighborhood is a small community almost entirely composed of new developments and subdivisions. The area also offers homebuyers proximity to the highway, country clubs and two higher education institutes. “University Neighborhood is a brand new area with quite a bit of building going on, and it’s probably just about halfway done,” says Fatima Nordquist, a real estate professional at Power Brokers International with 20 years of experience. “The big plus is it’s very close to the freeway, and it is up the hill so most homes are outside the wind belt.” At University Neighborhood, a mix of single-story and two-level homes sit close together on quiet streets. Architectural designs range from midcentury modern and contemporary to New Traditional with Mediterranean influence. Lots are moderate in size and average around 3,000 square feet, with just enough room for patios or a small garden. With relatively low monthly association fees, real estate prices are typically between $550,000 and $1 million, and properties that have five bedrooms or are over 3,000 square feet can reach $1.3 million.
Home Trends in University Neighborhood, CA
On average, homes in University Neighborhood, Palm Desert sell after 83 days on the market compared to the national average of 51 days. The median sale price for homes in University Neighborhood, Palm Desert over the last 12 months is $606,500, down 6% from the median home sale price over the previous 12 months.
Median Sale Price
$606,500
Median Single Family Sale Price
$749,000
Average Price Per Sq Ft
$333
Number of Homes for Sale
49
Last 12 months Home Sales
32
Median List Price
$749,000
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
-6%