Local Market Report
Palm Springs, CA
Single-Family Homes
Palm Springs, CA
Wed Jan 15 2025
This week the median list price for Palm Springs, CA is $1,197,362 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has decreased to 364.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $1,197,362 | |
| Median Price of New Listings | $1,150,000 | |
| Per Square Foot | $604 | |
| Average Days on Market | 125 | |
| Median Days on Market | 84 | |
| Price Decreased | 40% | |
| Price Increased | 5% | |
| Relisted | 19% | |
| Inventory | 364 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,575,000 | 3,116 | 0.25 - 0.5 acre | 4 | 3.5 | 54 | 9 | 9 | 77 |
| $1,399,000 | 2,300 | 0.25 - 0.5 acre | 3 | 2.5 | 46 | 8 | 10 | 70 |
| $1,045,000 | 1,765 | 0.25 - 0.5 acre | 3 | 2 | 52 | 11 | 8 | 91 |
| $724,000 | 1,584 | 6,500 - 8,000 sqft | 3 | 2 | 44 | 9 | 6 | 91 |