Single-Family Homes
Sat Sep 07 2024
This week the median list price for Palm Desert, CA 92260 is $949,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has decreased to 77.
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 been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
Median List Price | $949,000 | |
Median Price of New Listings | $695,000 | |
Per Square Foot | $469 | |
Average Days on Market | 121 | |
Median Days on Market | 91 | |
Price Decreased | 42% | |
Price Increased | 1% | |
Relisted | 16% | |
Inventory | 77 | |
Median Rent | ||
Market Action | 38 | |
Slight Seller's Advantage |
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$3,295,000 | 4,700 | 0.25 - 0.5 acre | 5 | 4.5 | 21 | 1 | 2 | 126 |
$1,320,000 | 2,776 | 0.25 - 0.5 acre | 3 | 3 | 45 | 1 | 0 | 49 |
$789,000 | 2,122 | 8,000 - 10,000 sqft | 3 | 2 | 45 | 1 | 2 | 126 |
$649,500 | 1,700 | 6,500 - 8,000 sqft | 3 | 2 | 45 | 6 | 3 | 45 |