The Munselle Group's Market Report
Palm Springs, CA 92262
Single-Family Homes
Compass | www.themunsellegroup.com| 760-772-2411
Palm Springs, CA 92262
Thu Apr 18 2024
This week the median list price for Palm Springs, CA 92262 is $1,177,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has held steady at or around 210.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $1,177,000 | |
| Median Price of New Listings | $1,155,000 | |
| Per Square Foot | $624 | |
| Average Days on Market | 103 | |
| Median Days on Market | 70 | |
| Price Decreased | 46% | |
| Price Increased | 3% | |
| Relisted | 19% | |
| Inventory | 210 | |
| Median Rent | ||
| Market Action | 33 | |
| Slight Seller's Advantage | ||
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,800,000 | 3,291 | 0.25 - 0.5 acre | 4 | 4 | 47 | 10 | 1 | 73 |
| $1,395,000 | 2,197 | 0.25 - 0.5 acre | 3 | 3 | 47 | 4 | 3 | 70 |
| $999,950 | 1,780 | 0.25 - 0.5 acre | 3 | 2 | 47 | 4 | 1 | 70 |
| $748,000 | 1,452 | 6,500 - 8,000 sqft | 3 | 2 | 41 | 10 | 5 | 49 |