Statistical Tables

Palm Springs Area Real Estate

Palm Springs Area Home Prices Jump to Start the Year

The median price for single-family, re-sale homes in the Palm Springs area jumped 23.9% in January. The average price gained 25.5% compared to January 2017.

Prices for attached homes were also up to begin the year. The median price rose 10.2% and the average priced gained 15.3%

Sales of detached homes were off 2.1% compared to last January. Attached home sales gained 2.1%.

Inventory is rising, which usually constrains prices. Detached homes jumped from 4.5 months of inventory in December to 5.6 months in January. Attached homes went from 4.0 months to 5.0 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.

January Statistics

Trends at a Glance
(Single-family Homes)
Data Jan 18 Dec 17 Jan 17
Median Price: $399,000 $375,000 $322,000
Average Price: $585,824 $507,143 $466,829
Home Sales: 475 575 485
Sale/List Price Ratio: 97.3% 97.5% 97.0%
Days on Market: 90 86 99
(Attached Homes)
Data Jan 18 Dec 17 Jan 17
Median Price: $270,000 $247,500 $245,000
Average Price: $295,004 $280,887 $255,765
Home Sales: 238 286 233
Sale/List Price Ratio: 96.5% 96.1% 95.5%
Days on Market: 87 92 98

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 15.3% from January 2017. The median price is up 121.7% from the bottom of the market, but is still down -20.0% from the peak.

In January, the 3-month moving average median price was up 3.3% for attached homes since January 2017. It is up 54.8% from the bottom of the market which was in October 2011, but is still down 35.6% from the peak.

Desert Price Differences
from January 2017 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 15.3% -20.0% 121.7% Jun-07 Apr-09
12-month 10.8% -18.3% 101.0% Nov-07 Nov-09
Homes: attached          
3-month 3.3% -35.6% 54.8% Mar-06 Oct-11
12-month 3.1% -30.4% 45.6% Jun-06 May-12

Sales momentum…

for detached homes, fell 0.7 of a point to +5.7. Sales momentum for attached homes fell 0.4 of a point to +18.1. (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 rose 1.6 points to +9.8. Pricing momentum for attached homes dropped 0.9 of a point to +1.9.

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 8.5% 0.0% 6.3%
Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 59.5% 91.7% 60.0%
2001 -12.5% 43.5% 25.0%
2002 -4.8% 15.2% 50.0%
2003 20.5% 26.3% 0.0%
2004 22.4% 114.6% 66.7%
2005 -12.8% 46.6% 80.0%
2006 -19.5% -26.5% 31.1%
2007 -35.1% -18.9% -27.1%
2008 4.0% -26.7% -14.0%
2009 108.8% -47.0% -62.2%
2010 -0.3% 82.9% 92.9%
2011 12.2% -18.8% -48.1%
2012 5.4% -7.7% 42.9%
2013 16.1% 77.1% -5.0%
2014 -33.0% 31.8% 168.4%
2015 -26.8% -25.9% -27.5%
2016 7.5% -15.7% -2.7%
2017 28.9% 42.9% -41.7%
2018 -15.6% 30.0% 128.6%

The median price for the under $500,000 segment of the market was up 4.9% year-over-year in January. This segment constituted 62.5% 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 27.4% of sales last month. The median price was down 4.4% year-over-year in January.

Palm Springs area home sales and prices

The million dollar plus market was 10.1% of total sales in January. The median price for this segment of the market was up 6.3% 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 - January 2018
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 399,000  $    585,824 475 23.9% 25.5% -2.1% 6.4% 15.5% -17.4%
Palm Springs  $ 650,000  $    778,591 65 14.0% 22.8% 3.2% 4.0% -1.5% -18.8%
Palm Desert  $ 424,500  $    474,723 86 25.7% 9.6% 6.3% 7.8% 11.5% -2.3%
La Quinta  $ 452,500  $    732,237 90 -5.2% 11.3% -2.2% 3.8% 24.9% 7.1%
Indian Wells  $ 825,000  $ 1,349,513 15 -8.8% 6.6% 66.7% -2.9% 31.7% -37.5%
Rancho Mirage  $ 582,750  $    926,203 42 -6.6% 19.5% 75.0% -11.4% 17.1% 2.4%
Cathedral City  $ 333,000  $    330,551 41 19.0% 13.1% -4.7% 6.1% -4.4% -19.6%
Indio  $ 310,000  $    328,723 93 14.8% 9.6% 2.2% -2.2% 0.6% -11.4%
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  $ 390,000  $    463,433 13 27.9% 27.4% 85.7% -31.7% -20.0% -13.3%
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 - January 2018
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 270,000  $    295,004 238 10.2% 15.3% 2.1% 9.1% 5.0% -16.8%
Palm Springs  $ 271,500  $    288,723 68 16.0% 18.9% 1.5% 28.5% 13.5% -29.2%
Palm Desert  $ 302,500  $    318,093 78 16.3% 16.2% -10.3% 14.6% 9.7% -19.6%
La Quinta  $ 277,500  $    343,878 23 -17.2% 7.7% 35.3% -33.3% -12.4% 0.0%
Indian Wells  $ 299,000  $    380,500 8 -30.5% -9.4% -11.1% -23.4% 2.7% 33.3%
Rancho Mirage  $ 280,000  $    309,574 31 5.8% 18.2% 29.2% -5.7% -3.9% -13.9%
Cathedral City  $ 156,500  $    161,647 17 30.4% 16.3% 70.0% 7.6% 3.8% 6.3%
Indio  $ 155,000  $    172,956 9 34.5% 23.8% -30.8% -17.6% -23.8% 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.