Palm Springs Real Estate Market Trends
Palm Springs Area Home Prices Stable, Sales Anemic
The median price for Palm Springs area single-family, re-sale homes has been staying in a narrow range between $305,000 and $363,500 since November 2013. That coincides with the sharp rise in the dollar which has pushed foreign buyers out of the market.
Of course, we can't blame it all on foreign buyers. The two biggest areas of employment in the Coachella Valley are hospitality and construction. Hospitality is doing well, but construction is pretty much dead.
Home sales continue to tumble. Sales have been lower than the year before by double-digits for the past six months, and they have been lower for the past twenty-one months in a row. Year-to-date, home sales are down 21.8%. That follows a drop of 18% in 2014. Home sales peaked in 2013.
To continue reading the Palm Springs area Real Estate Market Trends Report, click here.
C.A.R’s 2015 Housing Forecast
The California Association of REALTORS® just released their forecast for next year. You can access the full report here.
For the full report, plus graphs and statistical tables, visit our Market Trends section, or for real estate market trends for a specific city, try these links: Palm Springs, Palm Desert, Cathedral City, Rancho Mirage and La Quinta.
The Reality of Realty in the Palm Springs Area
Our Community contains some of the most desirable homes in the country. If you are looking for a home in Palm Springs area, this is the place to start.
The Cities in the Coachella Valley
Each city in the Valley has its own unique character. You will find a short profile of each plus economic and demographic statistics for the following cities: Palm Springs, Palm Desert, Rancho Mirage, Cathedral City, Indian Wells and La Quinta.
Are you looking for a list of well-priced properties in Palm Springs, Palm Desert, Rancho Mirage, La Quinta, Indian Wells or Indio? Click on the title of this paragraph to go to our MLS search. On that page, you have the option to tell us what you are looking for so we can set up a custom search in the MLS that will automatically e-mail you relevant homes for sale. Or call me, Greg Bauer, at (800) 975-7720.
Whether you are looking for homes, condos, country clubs, vacation homes, second homes, seasonal homes or investment property, stay up to speed on the market trends in Palm Springs, Palm Desert, Rancho Mirage, Cathedral City, Indian Wells and La Quinta.
For the best in California real estate and resort living, the Palm Springs area can't be beat!
Palm Springs Area or Phoenix/Scottsdale?
Here's an interesting article about Phoenix/Scottsdale. Click here.
To view the most up-to-date news about real estate in the Palm Springs area, visit our blog.
Subscribe to the Desert Real Estate Market Trends Report and you will be notified by e-mail when the report is updated. You will receive ONE e-mail a month.