Statistical Tables

Palm Springs Area Real Estate

Prices and Sales of Detached and Attached Homes Rise

Prices and sales of single-family, re-sale detached homes and attached homes/condominiums continued rising in November, year-over-year, with the notable exception of Palm Springs, which saw home sales down 19.8% from last November.

Sales of detached homes were up 1.3% compared to last November. Attached home sales jumped 23.8%.

Year-to-date, detached home sales in the Palm Springs area are up 7.6%, while attached home sales are up 21.9%.

The median price for detached homes gained  7.7% compared to last November, while the median price for attached homes rose 12.4%.

Inventory continues to be problematic. Detached homes are down to 4.9 months of inventory, and attached homes are down to 4.8 months of  inventory. Nationally, a balanced market would have 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.

November Statistics

Trends at a Glance
(Single-family Homes)
Data Nov 17 Oct 17 Nov 16
Median Price: $376,000 $373,000 $349,250
Average Price: $508,058 $516,392 $503,333
Home Sales: 460 479 454
Sale/List Price Ratio: 96.1% 96.7% 91.7%
Days on Market: 91 100 95
(Attached Homes)
Data Nov 17 Oct 17 Nov 16
Median Price: $235,000 $225,000 $209,000
Average Price: $252,020 $252,162 $237,591
Home Sales: 234 249 189
Sale/List Price Ratio: 96.3% 95.9% 95.1%
Days on Market: 91 102 106

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 6.7% from January 2017. The median price is up 119.3% from the bottom of the market, but is still down -20.9% from the peak.

In November, the 3-month moving average median price was down 2.6% for attached homes since January 2017. It is up 46.8% from the bottom of the market which was in October 2011, but is still down 38.9% from the peak.

Desert Price Differences
from January 2017 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 6.7% -20.9% 119.3% Jun-07 Apr-09
12-month 7.4% -14.9% 109.5% Nov-07 Nov-09
Homes: attached          
3-month -2.6% -38.9% 46.8% Mar-06 Oct-11
12-month 2.2% -30.5% 45.2% Jun-06 May-12

Sales momentum…

for detached homes, fell 1.7 points to +6.5. Sales momentum for attached homes rose 1.5 points to +19.6. (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 was flat at +5.8. Pricing momentum for attached homes gained 0.6 of a point to +2.3.

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 6.9% 1.4% -1.6%
Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 119.9% 34.2% 61.3%
2001 -58.4% -4.0% -24.0%
2002 23.6% 46.0% 30.6%
2003 12.4% 66.5% 38.3%
2004 15.7% 108.7% 149.7%
2005 -18.0% 11.2% 48.6%
2006 -32.8% -34.9% -3.7%
2007 -31.6% -13.3% -19.4%
2008 86.8% -23.0% -26.1%
2009 44.3% -21.2% -45.1%
2010 -11.3% 16.6% 49.3%
2011 18.0% 7.7% -8.1%
2012 -5.1% 7.5% 22.5%
2013 1.5% 52.9% 34.5%
2014 -24.7% -4.4% 6.8%
2015 -12.7% -16.9% -15.2%
2016 5.4% 17.3% 4.2%
2017 0.9% 21.3% 26.7%

The median price for the under $500,000 segment of the market was up 9.2% year-over-year in November. This segment constituted 67.0% 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 25.2% of sales last month. The median price was up 1.6% year-over-year in November.

Palm Springs area home sales and prices

The million dollar plus market was 7.8% of total sales in November. The median price for this segment of the market was up 4.0% 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 - November 2017
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $    376,000  $    508,058 460 7.7% 0.9% 1.3% 0.8% -1.6% -4.0%
Palm Springs  $    605,000  $    667,930 73 15.2% -6.8% -19.8% -9.4% -12.4% -5.2%
Palm Desert  $    427,000  $    502,833 46 1.7% 18.8% -2.1% -14.6% -19.4% -9.8%
La Quinta  $    384,000  $    512,050 97 -13.7% -32.3% 29.3% -2.2% -5.5% 7.8%
Indian Wells  $    840,000  $ 1,018,467 15 11.1% 2.0% 25.0% -0.4% -2.9% 25.0%
Rancho Mirage  $    695,000  $    912,910 38 20.9% 35.2% 52.0% 17.8% 13.6% 15.2%
Cathedral City  $    309,000  $    321,588 41 16.6% 11.6% -19.6% -4.8% -3.1% -14.6%
Indio  $    320,000  $    351,469 71 12.0% 10.1% 2.9% 0.0% 4.7% -6.6%
Desert Hot Springs  $    226,500  $    225,276 36 22.4% 18.5% -25.0% 2.3% 3.3% -29.4%
Sun City - PD  $    325,000  $    357,542 57 7.9% 8.3% 58.3% -12.8% -4.0% 50.0%
Bermuda Dunes  $    425,000  $    479,547 7 24.9% 12.2% 75.0% 19.4% 16.3% -50.0%
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 - November 2017
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $    235,000  $    252,020 234 12.4% 6.1% 23.8% 4.4% -0.1% -6.0%
Palm Springs  $    208,500  $    242,893 88 -0.2% 4.7% 31.3% 12.7% 6.5% -9.3%
Palm Desert  $    257,500  $    279,285 76 19.8% 14.0% 85.4% 2.2% -3.8% 7.0%
La Quinta  $    348,000  $    356,750 14 11.6% 13.6% -12.5% -6.7% -6.6% -30.0%
Indian Wells  $    209,000  $    240,857 7 -45.7% -33.4% -36.4% -37.3% -35.2% 75.0%
Rancho Mirage  $    274,450  $    268,405 22 8.7% 6.4% -8.3% -6.6% -15.5% 57.1%
Cathedral City  $    149,500  $    143,406 16 -5.8% -4.5% 108.3% 13.1% 0.8% 150.0%
Indio  $    119,000  $    149,900 5 8.2% 1.4% -54.5% -28.1% -2.8% -44.4%
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.