Statistical Tables

Palm Springs Area Real Estate

Real Estate Sales Pop

Sales of both single-family homes and attached/condos ended the season in May with substantial gains: SFR up 14.8% and attached/condo sales up 27.6%, both year-over-year percentages.

Year-to-date, detached home sales in the Palm Springs area are up 14.5%, while attached home sales are up an astounding 27.1%.

The median price for detached homes backed off the torrid pace it has been on and was up only 4.4% last month. The median price for attached homes was down 0.5%.

Expect prices and sales to begin slowing down in June.

Palm Springs Area Real Estate Home Prices 3-month Moving Average Chart

Palm Springs Area Real Estate Attached Home Prices 12-month Moving Average Chart

To read our 2015 Annual Report, click here.

May Statistics

Trends at a Glance
(Single-family Homes)
Data May 17 Apr 17 May 16
Median Price: $381,000 $420,500 $365,000
Average Price: $538,887 $594,432 $500,916
Home Sales: 667  611  581 
Sale/List Price Ratio: 95.3% 95.0% 95.7%
Days on Market: 99 100 114
(Attached Homes)
Data May 17 Apr 17 May 16
Median Price: $241,000 $250,000 $242,250
Average Price: $272,712 $280,067 $259,617
Home Sales: 370  345  290 
Sale/List Price Ratio: 95.7% 95.5% 95.2%
Days on Market: 106 105 113

Even with the strong increases since the start of the year, prices still have a ways to go to top the peak of the market.

The 3-month moving average median price for detached homes is up 12.5% from January 2015. The median price is up 136.5% from the bottom of the market, but is still down -14.7% from the peak.

In May, the 3-month moving average median price was up 0.7% for attached homes since January 2015. It is up 64.0% from the bottom of the market which was in October 2011, but is still down 31.8% from the peak.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 12.5% -14.7% 136.5% Jun-07 Apr-09
12-month 3.9% -20.4% 95.8% Nov-07 Nov-09
Homes: attached
3-month 0.7% -31.8% 64.0% Mar-06 Oct-11
12-month -3.4% -33.6% 38.9% Jun-06 May-12

Sales momentum…

for detached homes, rose 0.8 of a point to +11.5. Sales momentum for attached homes rose  a full point to +16.4. (See charts below)

We calculate…

momentum by using a 12-month moving average to eliminate seasonality. By comparing this year’s 12-month moving average to last year’s, we get a percentage showing market momentum.  

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for the median price.

Pricing momentum…

for detached homes was flat at +5.7. Pricing momentum for attached homes gained 0.6 of a point to +0.6.

Palm Springs Area Real Estate Market Momentum Chart

Palm Springs area real estate condo/attached home sales momentum

 

Palm Springs area real estate

The following tables break-down the market into three segments: less than $500,000, $500,000 to $1,000,000 and $1,000,000 and over. The tables are year-to-date.

Median Prices
Percent Change From Year Before
<$500K >=$500K and <$1MM >=$1MM
2000 12.7% 1.0% 0.0%
2001 14.5% 1.2% -3.8%
2002 18.3% -3.9% 0.0%
2003 13.8% 3.3% -3.2%
2004 23.4% 2.4% -1.1%
2005 16.9% 3.1% 3.0%
2006 0.1% -0.8% 2.6%
2007 -1.6% 1.5% 1.8%
2008 -33.8% -2.2% 7.9%
2009 -26.7% -1.5% -8.9%
2010 9.8% 0.0% -0.9%
2011 -8.9% -1.5% -1.8%
2012 16.4% -0.8% -1.8%
2013 24.2% 2.4% 3.3%
2014 10.3% 0.8% 0.4%
2015 7.0% -0.9% 0.9%
2016 3.1% -1.4% 0.4%
2017 4.5% 1.5% -0.4%
Home Sales
Percent Change From Year Before
<$500K >=$500K and <$1MM >=$1MM
2000 300.5% 65.2% 72.7%
2001 -74.4% -8.1% -10.5%
2002 19.7% 36.5% 9.8%
2003 8.3% 59.5% 32.1%
2004 31.3% 120.3% 121.6%
2005 -21.6% 13.9% 49.4%
2006 -27.7% -30.3% 15.9%
2007 -28.6% -8.3% -19.7%
2008 24.2% -27.7% -14.0%
2009 92.1% -41.5% -59.2%
2010 -8.4% 52.2% 53.8%
2011 12.8% 10.2% -11.4%
2012 4.2% 5.9% 38.5%
2013 10.7% 54.3% 4.0%
2014 -27.3% -0.1% 57.3%
2015 -21.9% -24.6% -22.3%
2016 -0.4% 8.5% -1.0%
2017 -18.8% 0.7% 27.9%

The median price for the under $500,000 segment of the market was up 6.9% year-over-year in May. This segment constituted 66.1% of sales.

Palm Springs area home sales and prices under $500,000

By contrast, the $500,000 to $1,000,000 segment of the market was 24.1% of sales last month. The median price was up 4.9% year-over-year in May.

Palm Springs area home sales and prices

The million dollar plus market was 9.7% of total sales in May. The median price for this segment of the market was up 3.8% year-over-year.

See our Annual Report for year-end numbers.

Palm Springs area real estate $1MM home sales and prices

The graphs below show monthly prices and sales since 2006. We have used a three month moving average to smooth out monthly fluctuations yet retain seasonal flow.

This chart show the number of Palm Springs area homes sold plus the median and average prices since 2005.

This chart show the number of Palm Springs area condos sold plus the median and average prices since 2005.

For full details see the tables below and the Monthly Trends section which breaks out each city's statistics. That menu is at the left.

Also, check out our Annual Trends section for charts and graphs for the past eight years.

The following table provides the median price, the average price and the number of units sold for residential re-sale single family homes.

Palm Springs Area Real Estate Monthly Statistics

Palm Springs Area Real Estate - May 2017
SINGLE-FAMILY HOMES
Prices Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $381,000   $538,887  667  4.4% 7.6% 14.8% -9.4% -9.3% 9.2%
Palm Springs  $592,500   $746,899  112  15.0% 7.8% 25.8% 2.2% 1.7% 6.7%
Palm Desert  $425,000   $626,927  70  -1.4% 20.2% -5.4% -3.4% 20.9% -4.1%
La Quinta  $440,000   $595,248  117  -0.6% -3.1% 2.6% -14.6% -21.8% -10.7%
Indian Wells  $708,000   $948,101  35  -11.6% 2.0% 16.7% -12.0% -18.3% 25.0%
Rancho Mirage  $589,000   $766,346  57  -4.6% -1.9% 78.1% -7.6% -6.6% -1.7%
Cathedral City  $290,000   $302,546  57  15.1% 19.2% 18.8% 0.2% -2.1% 14.0%
Indio  $295,000   $338,087  85  7.3% 9.0% -3.4% 1.7% 0.4% 10.4%
Desert Hot Springs  $200,000   $205,157  53  0.8% 3.3% -1.9% 1.5% 7.3% 26.2%
Sun City - PD  $325,000   $357,542  57  7.9% 8.3% 58.3% -12.8% -4.0% 50.0%
Bermuda Dunes  $349,000   $390,191  17  -5.7% 1.0% 54.5% -28.8% -33.6% 142.9%
This table provides the median price, the average price and the number of units sold for residential re-sale condominiums.

Palm Springs Area Real Estate - May 2017
Condo/Attached Homes
Prices Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $241,000   $272,712  370  -0.5% 5.0% 27.6% -3.6% -2.6% 7.2%
Palm Springs  $207,000   $247,601  117  -7.3% 2.9% 8.3% -12.7% -4.4% 6.4%
Palm Desert  $249,500   $277,569  108  -3.7% -2.0% 24.1% -8.4% -6.5% 0.9%
La Quinta  $358,000   $376,951  43  18.9% 15.0% 138.9% -15.8% -4.5% 48.3%
Indian Wells  $360,500   $349,732  14  0.1% -4.0% 55.6% -7.6% -20.2% 27.3%
Rancho Mirage  $272,000   $293,692  51  -18.2% -11.7% 59.4% -2.5% -2.0% 24.4%
Cathedral City  $176,000   $185,083  21  -6.0% -0.1% 31.6% -5.7% -11.3% -7.4%
Indio  $150,000   $155,625  8  17.6% 10.2% -11.1% -11.8% -29.6% -38.5%
Desert Hot Springs  $43,450   $43,450  2  45.3% 45.3% 100.0% -27.3% -27.3% 0.0%
If we can help you devise a strategy, call or click buyer or seller.  To keep on top of the market, subscribe to this report and you will be notified by e-mail when it is updated each month.

The Graphs

Real estate trend charts for individual cities in the Palm Springs area can be reached by clicking on the City Trends menu to the left.

For detailed information on a specific neighborhood or country club, give Greg Bauer a call at (800) 975-7720, or fill out the appropriate form: Buyers or Sellers.

For our opinion of what your home will sell for in today's market, call or e-mail us.