Statistical Tables

Palm Springs Area Real Estate

Palm Springs Area Prices Continue Rising, Sales Down

While retreating from February, the median price for single-family, re-sale homes in the Palm Springs area was up 6.7%, year-over-year, to $400,000 in March.

The average price was also lower from February. It was up 8.7% compared to last March.

The median price for attached homes rose 2.0% and the average priced gained 2.3%, year-over-year. They were both up slightly from February.

Sales of detached homes were off 16.4% compared to last March. Attached home sales dropped 6.5%.

Inventory of detached homes fell from 5.1 months of inventory in February to 3.8 months in March. Attached homes went from 4.3 months to 2.9 months of  inventory. Nationally, a balanced market has six months of inventory.

Palm Springs Area Home Inventory

Palm Springs Area Condo/Detached Homes Inventory

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.

March Statistics

Trends at a Glance
(Single-family Homes)
Data Mar 18 Feb 18 Mar 17
Median Price: $400,000 $407,500 $375,000
Average Price: $601,190 $648,952 $552,941
Home Sales: 643 509 769
Sale/List Price Ratio: 97.1% 97.2% 96.7%
Days on Market: 87 85 97
(Attached Homes)
Data Mar 18 Feb 18 Mar 17
Median Price: $260,000 $259,000 $255,000
Average Price: $285,911 $284,465 $279,551
Home Sales: 359 245 384
Sale/List Price Ratio: 96.6% 96.6% 95.9%
Days on Market: 94 84 97

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 23.6% from January 2017. The median price is up 137.5% from the bottom of the market, but is still down -14.3% from the peak.

In March, the 3-month moving average median price was up 14.4% for attached homes since January 2017. It is up 71.5% from the bottom of the market which was in October 2011, but is still down 28.7% from the peak.

Desert Price Differences
from January 2017 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 23.6% -14.3% 137.5% Jun-07 Apr-09
12-month 12.8% -16.9% 104.6% Nov-07 Nov-09
Homes: attached          
3-month 14.4% -28.7% 71.5% Mar-06 Oct-11
12-month 4.1% -29.6% 47.1% Jun-06 May-12

Sales momentum…

for detached homes, fell 3.5 points to +0.9. Sales momentum for attached homes fell 6.4 points to +10.6. (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 fell 0.5 of a point to +9.3. Pricing momentum for attached homes fell 0.4 of a point to +2.9.

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 4.8% 0.8% 0.4%
2015 6.0% -1.5% 0.9%
2016 3.8% -0.8% 0.5%
2017 7.3% 1.4% -1.4%
2018 7.8% 0.8% 7.1%
Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 30.0% 61.5% 42.9%
2001 -26.2% -31.0% 30.0%
2002 26.5% 55.2% 7.7%
2003 4.8% 88.9% 35.7%
2004 43.6% 109.4% 131.6%
2005 -19.3% 30.9% 47.7%
2006 -24.6% -42.9% 40.0%
2007 -32.3% 0.0% -13.2%
2008 -0.8% -38.3% -26.6%
2009 113.7% -32.9% -63.8%
2010 2.9% 49.1% 52.4%
2011 10.2% 20.7% 15.6%
2012 4.8% 11.1% 43.2%
2013 -0.3% 31.8% -7.5%
2014 -25.4% 1.4% 63.3%
2015 -15.4% -16.3% -23.8%
2016 -1.8% 3.3% 0.0%
2017 -6.9% -21.3% -65.6%
2018 10.5% 80.0% 519.0%

The median price for the under $500,000 segment of the market was up 10.1% year-over-year in March. This segment constituted 60.5% 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 28.0% of sales last month. The median price was up 1.9% year-over-year in March.

Palm Springs area home sales and prices

The million dollar plus market was 20.2% of total sales in March. The median price for this segment of the market was down 6.5% 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 - March 2018
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 400,000  $    601,190 643 6.7% 8.7% -16.4% -1.8% -7.4% 26.3%
Palm Springs  $ 693,000  $    761,077 73 14.9% 13.6% -24.7% 16.5% 12.5% -1.4%
Palm Desert  $ 402,000  $    589,737 126 1.8% -5.2% 61.5% -12.1% 11.4% 50.0%
La Quinta  $ 500,500  $    759,569 132 -6.4% 6.9% -8.3% -8.8% -13.6% 41.9%
Indian Wells  $ 925,000  $ 1,164,540 22 -30.6% -38.3% 0.0% 9.5% -16.4% -12.0%
Rancho Mirage  $ 690,000  $    918,287 60 7.0% 11.6% -11.8% 3.8% 5.0% 30.4%
Cathedral City  $ 310,000  $    331,339 61 13.7% 22.3% 8.9% 0.0% 2.3% 35.6%
Indio  $ 320,000  $    339,064 109 4.4% -7.6% -22.1% 6.0% 6.3% 29.8%
Desert Hot Springs  $ 220,000  $    217,774 57 18.5% 17.1% 42.5% -3.5% -4.2% 54.1%
Sun City - PD  $ 325,000  $    357,542 57 7.9% 8.3% 58.3% -12.8% -4.0% 50.0%
Bermuda Dunes  $ 424,500  $    491,089 14 1.1% 2.4% 27.3% -1.3% 20.1% 100.0%
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 - March 2018
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 260,000  $    285,911 359 2.0% 2.3% -6.5% 0.4% 0.5% 46.5%
Palm Springs  $ 243,000  $    271,410 116 -4.2% -5.5% -12.1% 10.5% 4.7% 50.6%
Palm Desert  $ 287,750  $    312,227 110 12.8% 9.0% 0.9% -0.8% 0.8% 35.8%
La Quinta  $ 329,750  $    361,109 34 1.3% 1.3% -10.5% -16.0% -5.6% 54.5%
Indian Wells  $ 385,250  $    336,625 12 4.1% -2.0% 9.1% -13.8% -27.6% 140.0%
Rancho Mirage  $ 318,500  $    331,778 32 19.1% 11.1% -23.8% -0.5% 9.6% 3.2%
Cathedral City  $ 160,875  $    168,627 25 21.6% 8.0% -3.8% 7.3% 20.7% 66.7%
Indio  $ 159,650  $    184,668 19 -0.2% 11.7% 72.7% 18.7% 6.4% 90.0%
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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.