Statistical Tables

Palm Springs Area Real Estate

Real Estate in the Palm Springs Area Had Quite the Season

After three years of lower than the year before real estate sales, both homes and condos had a breakout year in the Palm Springs area: which includes all the cities in the valley from Palm Springs to Indio.

Year-to-date, detached home sales are up 14.3%, while attached home sales are up an astounding 26.7%.

The median price for detached homes has been higher than the year before by double-digits for the past three months. In April, the median price was up 14.9%.

While seasonal buying usually ends in April, closing continue into May. After that, the market is dominated by locals, who, for the most part, aren't buying uber mansions.

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.

April Statistics

Trends at a Glance
(Single-family Homes)
Data Apr 17 Mar 17 Apr 16
Median Price: $425,000 $400,000 $370,000
Average Price: $597,678 $579,803 $531,356
Home Sales: 609  686  564 
Sale/List Price Ratio: 95.0% 95.2% 95.0%
Days on Market: 99 100 119
(Attached Homes)
Data Apr 17 Mar 17 Apr 16
Median Price: $255,000 $256,000 $255,000
Average Price: $280,418 $282,704 $270,136
Home Sales: 343  374  289 
Sale/List Price Ratio: 95.5% 95.9% 95.3%
Days on Market: 105 97 113

Even with the strong price increases, 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 13.3% from January 2015. The median price is up 138.3% from the bottom of the market, but is still down -14.0% from the peak.

In April, the 3-month moving average median price was off 1.1% for attached homes since January 2015. It is up 61.1% from the bottom of the market which was in October 2011, but is still down 33.0% from the peak.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 13.3% -14.0% 138.3% Jun-07 Apr-09
12-month 3.2% -20.9% 94.6% Nov-07 Nov-09
Homes: attached
3-month -1.1% -33.0% 61.1% Mar-06 Oct-11
12-month -3.0% -33.3% 39.4% Jun-06 May-12

Sales momentum…

for detached homes, rose a full point to +10.7. Sales momentum for attached homes rose 1.8 points to +15.4. (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 rose 0.9 of a point to  +5.7. Pricing momentum for attached homes fell 0.4 of a point to +0.8.

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.

Home Sales
Percent Change From Year Before
<$500K >=$500K and <$1MM >=$1MM
2000 380.8% 68.8% 72.7%
2001 -78.0% -9.6% -10.5%
2002 12.4% 35.2% 9.8%
2003 12.1% 67.3% 32.1%
2004 34.5% 114.1% 121.6%
2005 -21.6% 19.6% 49.4%
2006 -28.4% -31.1% 15.9%
2007 -26.5% -7.2% -19.7%
2008 13.8% -28.1% -14.0%
2009 103.5% -42.8% -59.2%
2010 -7.5% 60.2% 53.8%
2011 10.7% 9.4% -11.4%
2012 4.2% 1.2% 38.5%
2013 10.8% 55.2% 4.0%
2014 -26.9% 3.9% 57.3%
2015 -22.3% -23.1% -22.3%
2016 -2.1% 6.6% -1.0%
2017 6.8% 30.0% 28.4%
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 3.4% 2.3% 1.8%

The median price for the under $500,000 segment of the market was up 8.5% year-over-year in April. This segment constituted 60.8% 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 27.3% of sales last month. The median price was up 1.5% year-over-year in April.

Palm Springs area home sales and prices

The million dollar plus market was 12.0% of total sales in April. The median price for this segment of the market was off 1.4% 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 - April 2017
SINGLE-FAMILY HOMES
Prices Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $425,000   $597,678  609  14.9% 12.5% 8.0% 6.3% 3.1% -11.2%
Palm Springs  $584,500   $741,447  106  1.0% 12.1% 15.2% -1.3% 10.8% 11.6%
Palm Desert  $440,000   $518,369  73  0.1% -17.1% -8.8% 10.7% -11.2% -13.1%
La Quinta  $537,500   $766,088  130  15.6% 22.5% 15.0% 0.5% 8.1% -9.1%
Indian Wells  $805,000   $1,160,214  28  6.3% 10.8% 40.0% -38.3% -33.0% 27.3%
Rancho Mirage  $637,500   $820,698  58  -1.8% 4.5% 26.1% -1.9% -1.1% -13.4%
Cathedral City  $290,000   $309,977  49  3.2% 9.8% 28.9% 6.3% 13.9% -9.3%
Indio  $290,000   $336,675  77  3.6% 5.8% -13.5% -6.5% -11.3% -33.0%
Desert Hot Springs  $195,000   $190,503  41  15.1% 1.3% -6.8% -2.3% -9.6% 13.9%
Sun City - PD  $319,000   $324,649  28  2.9% -6.1% 3.7% 1.0% -1.3% -33.3%
Bermuda Dunes  $489,900   $587,686  7  30.6% 52.6% -22.2% 18.8% 24.2% -41.7%
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 - April 2017
Condo/Attached Homes
Prices Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $255,000   $280,418  343  0.0% 3.8% 18.7% -0.4% -0.8% -8.3%
Palm Springs  $235,000   $259,119  109  -3.0% 1.1% 9.0% -7.8% -10.2% -15.5%
Palm Desert  $272,500   $296,911  107  0.9% 4.3% 20.2% 6.9% 3.4% 0.0%
La Quinta  $430,000   $401,714  28  32.3% 11.5% 21.7% 32.1% 12.7% -26.3%
Indian Wells  $390,000   $438,409  11  -7.1% -10.5% 57.1% 5.4% 27.6% 0.0%
Rancho Mirage  $279,000   $299,574  41  3.4% 0.7% 17.1% 3.0% -2.4% 2.5%
Cathedral City  $125,000   $140,856  25  -6.0% -0.1% 31.6% -5.7% -11.3% -7.4%
Indio  $170,000   $221,115  13  29.8% 24.6% 30.0% 6.3% 33.8% 18.2%
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.