Mon Nov 23 2020
This week the median list price for Palm Springs, CA 92262 is $1,095,000 with the market action index hovering around 55. This is less than last month's market action index of 62. Inventory has held steady at or around 89.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,095,000|
|Per Square Foot||$450|
|Days on Market||68|
|Strong Seller's Market|
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,695,000||4,213||0.5 - 1 acre||4||4||56||3||3||140|
|$1,272,000||2,590||8,000 - 10,000 sqft||3||3||13||4||3||49|
|$854,500||2,021||8,000 - 10,000 sqft||3||2||55||5||5||45|
|$530,000||1,868||6,500 - 8,000 sqft||3||2||15||5||7||39|