The Munselle Group's Market Report
Palm Springs, CA 92262
Single-Family Homes
Compass | www.themunsellegroup.com| 760-772-2411
Palm Springs, CA 92262
Wed Jun 07 2023
This week the median list price for Palm Springs, CA 92262 is $1,295,000 with the market action index hovering around 32. This is about the same as last month's market action index of 32. Inventory has held steady at or around 197.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. 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 | $1,295,000 | |
| Median Price of New Listings | $1,099,000 | |
| Per Square Foot | $658 | |
| Average Days on Market | 98 | |
| Median Days on Market | 70 | |
| Price Decreased | 52% | |
| Price Increased | 4% | |
| Relisted | 18% | |
| Inventory | 197 | |
| Median Rent | ||
| Market Action | 32 | |
| Slight Seller's Advantage | ||
In the last few weeks we’ve seen prices in this zip code bouncing around this 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 |
|---|---|---|---|---|---|---|---|---|
| $2,499,000 | 2,859 | 0.25 - 0.5 acre | 4 | 3.5 | 51 | 2 | 6 | 77 |
| $1,399,000 | 2,152 | 0.25 - 0.5 acre | 3 | 3 | 44 | 5 | 4 | 56 |
| $1,100,000 | 1,719 | 0.25 - 0.5 acre | 3 | 2 | 46 | 7 | 4 | 70 |
| $772,450 | 1,424 | 8,000 - 10,000 sqft | 3 | 2 | 42 | 7 | 7 | 52 |