Kevin Stern / Town Real Estate
Palm Desert, CA
Single-Family Homes
www.TownCA.com | 760-250-1977 | kevin@kevinstern.com | CalDRE #01376548
Palm Desert, CA
Sat Feb 04 2023
This week the median list price for Palm Desert, CA is $759,750 with the market action index hovering around 35. This is an increase over last month's market action index of 34. Inventory has held steady at or around 232.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $759,750 | |
| Median Price of New Listings | $905,900 | |
| Per Square Foot | $366 | |
| Average Days on Market | 78 | |
| Median Days on Market | 70 | |
| Price Decreased | 48% | |
| Price Increased | 2% | |
| Relisted | 17% | |
| Inventory | 232 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller'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 |
|---|---|---|---|---|---|---|---|---|
| $1,572,000 | 3,038 | 0.25 - 0.5 acre | 4 | 3.5 | 30 | 9 | 3 | 70 |
| $902,950 | 2,508 | 0.25 - 0.5 acre | 3 | 3 | 28 | 11 | 11 | 73 |
| $659,497 | 1,894 | 6,500 - 8,000 sqft | 3 | 2.5 | 25 | 7 | 8 | 70 |
| $499,244 | 1,701 | 4,500 - 6,500 sqft | 2 | 2 | 26 | 2 | 11 | 63 |