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
Mon Oct 03 2022
This week the median list price for Palm Desert, CA is $699,000 with the market action index hovering around 41. This is less than last month's market action index of 42. Inventory has held steady at or around 177.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $699,000 | |
| Median Price of New Listings | $725,000 | |
| Per Square Foot | $358 | |
| Average Days on Market | 58 | |
| Median Days on Market | 42 | |
| Price Decreased | 40% | |
| Price Increased | 2% | |
| Relisted | 11% | |
| Inventory | 177 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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 |
|---|---|---|---|---|---|---|---|---|
| $1,200,000 | 2,822 | 0.25 - 0.5 acre | 4 | 3.5 | 23 | 5 | 1 | 52 |
| $798,500 | 2,277 | 8,000 - 10,000 sqft | 3 | 2.5 | 26 | 5 | 5 | 38 |
| $610,107 | 1,884 | 6,500 - 8,000 sqft | 3 | 2 | 23 | 4 | 5 | 42 |
| $499,000 | 1,547 | 4,500 - 6,500 sqft | 2 | 2 | 27 | 5 | 11 | 42 |