Statistical Tables

Palm Springs Area Real Estate

Valley Real Estate Prices Continue Rising

Although prices for single-family, re-sale detached homes backed off in September from August, for the second month in a row, year-over-year, they were  up. Attached homes, on the other hand, were up in September from August, but down from last September.

The median price for detached homes gained  7.4% compared to last September, while the median price for attached homes fell 0.2%.

Detached home sales were down in September by 9.0% from the year before. Attached home sales were up 11.8%.

Year-to-date, detached home sales in the Palm Springs area are up 8.3%, while attached home sales are up 21.2%.

Inventory continues to be problematic. Detached homes are down to 4.2 month of inventory, and attached homes are down to 4.4 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.

September Statistics

Trends at a Glance
(Single-family Homes)
Data Sep 17 Aug 17 Sep 16
Median Price: $365,000 $376,995 $340,000
Average Price: $488,217 $482,779 $483,741
Home Sales: 453 526 498
Sale/List Price Ratio: 96.4% 96.1% 96.4%
Days on Market: 94 105 103
(Attached Homes)
Data Sep 17 Aug 17 Sep 16
Median Price: $228,000 $225,000 $228,465
Average Price: $255,832 $251,139 $266,941
Home Sales: 209 275 187
Sale/List Price Ratio: 96.2% 96.1% 95.0%
Days on Market: 114 113 125

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 9.4% from January 2017. The median price is up 124.8% from the bottom of the market, but is still down -18.9% from the peak.

In September, the 3-month moving average median price was down 1.6% for attached homes since January 2017. It is up 48.3% from the bottom of the market which was in October 2011, but is still down 38.3% from the peak.

Desert Price Differences
from January 2017 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 9.4% -18.9% 124.8% Jun-07 Apr-09
12-month 5.0% -16.3% 106.0% Nov-07 Nov-09
Homes: attached          
3-month -1.6% -38.3% 48.3% Mar-06 Oct-11
12-month 2.1% -30.5% 45.2% Jun-06 May-12

Sales momentum…

for detached homes, fell 2.3 points to +8.2. Sales momentum for attached homes rose 2.6 points 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 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 5.3% 0.8% -2.3%
Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 144.5% 36.7% 71.0%
2001 -62.0% -3.4% -28.0%
2002 22.4% 49.6% 24.7%
2003 11.2% 62.8% 40.6%
2004 19.4% 111.4% 143.0%
2005 -16.4% 12.0% 57.5%
2006 -32.6% -34.0% -1.8%
2007 -32.2% -11.3% -20.7%
2008 67.3% -22.9% -21.6%
2009 56.8% -28.6% -48.0%
2010 -11.6% 24.6% 50.8%
2011 21.0% 7.0% -10.6%
2012 -6.1% 5.0% 24.6%
2013 8.1% 61.8% 32.2%
2014 -27.1% -4.5% 15.4%
2015 -14.1% -20.2% -19.4%
2016 3.1% 15.8% 4.5%
2017 -8.1% 12.0% 15.6%

The median price for the under $500,000 segment of the market was up 1.7% year-over-year in August. This segment constituted 66.2% 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 27.9% of sales last month. The median price was up 0.2% year-over-year in August.

Palm Springs area home sales and prices

The million dollar plus market was 5.9% of total sales in August. The median price for this segment of the market was up 2.7% 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 - September 2017
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $    365,000  $    488,217 453 7.4% 0.9% -9.0% -3.2% 1.1% -13.9%
Palm Springs  $    505,000  $    571,430 66 -4.9% -32.0% -23.3% -17.3% -12.2% -21.4%
Palm Desert  $    391,000  $    441,437 52 -2.3% -6.2% -17.5% -9.1% 0.5% -7.1%
La Quinta  $    427,500  $    554,071 88 9.1% 1.2% -3.3% 3.0% -0.1% -1.1%
Indian Wells  $    780,000  $    984,101 19 26.7% 33.2% 90.0% 8.0% -20.3% 35.7%
Rancho Mirage  $    620,000  $    916,983 35 25.3% 29.8% 29.6% 8.5% 25.6% -30.0%
Cathedral City  $    297,500  $    309,105 52 8.0% 7.7% -10.3% -0.8% 1.9% -8.8%
Indio  $    310,000  $    344,566 73 7.3% 10.9% 0.0% 2.0% 4.6% -17.0%
Desert Hot Springs  $    223,000  $    224,155 38 22.2% 20.8% -9.5% 11.8% 9.6% -7.3%
Sun City - PD  $    325,000  $    357,542 57 7.9% 8.3% 58.3% -12.8% -4.0% 50.0%
Bermuda Dunes  $    525,000  $    507,250 4 40.0% 27.0% -63.6% 28.0% 8.6% -69.2%
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 - September 2017
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $    228,000  $    255,832 209 -0.2% -4.2% 11.8% 1.3% 1.9% -24.0%
Palm Springs  $    205,000  $    237,853 83 -4.7% -9.1% 36.1% 3.9% 4.2% -18.6%
Palm Desert  $    267,450  $    278,228 56 10.6% 0.6% 3.7% 1.9% 0.7% -30.9%
La Quinta  $    240,000  $    289,707 19 -6.6% -7.1% 0.0% -31.2% -10.3% 0.0%
Indian Wells  $    377,000  $    408,063 8 8.9% 15.2% 100.0% -0.8% -15.6% 166.7%
Rancho Mirage  $    310,000  $    297,711 19 21.6% 1.2% -36.7% 9.7% 0.0% -50.0%
Cathedral City  $    137,000  $    150,940 10 12.8% 12.3% 42.9% 2.9% 7.4% -4.8%
Indio  $    102,000  $    152,333 9 -15.0% 17.6% 50.0% -15.7% 28.8% 125.0%
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.