Statistical Tables

Palm Springs Area Real Estate

Palm Springs Area Real Estate Sales Rise, Prices Mixed

After two years of lower-than-the-year-before sales, single-family, re-sale home sales are up 5.4% year-to-date, while sales of attached homes are up 6.6%.

The median price of single-family, re-sale homes in the Palm Springs area rose for the seventh month in a row, year-over-year. The median price for condos/attached homes was down from the year before in October.

The median price for homes has been up seven of the past ten months, while the median price for condos/attached homes has been up five of the past ten months.

Palm Springs Area Real Estate Home Prices 3-month Moving Average Chart

Palm Springs Area Real Estate Attached Home Prices 12-month Moving Average Chart

To read our 2015 Annual Report, click here.

October Statistics

Trends at a Glance
(Single-family Homes)
Data Oct 16 Sep 16 Oct 15
Median Price: $345,000 $340,000 $331,106
Average Price: $440,553 $485,053 $452,060
Home Sales: 440 495 419
Sale/List Price Ratio: 96.3% 96.4% 95.3%
Days on Market: 103 103 118
(Attached Homes)
Data Oct 16 Sep 16 Oct 15
Median Price: $220,000 $228,733 $226,000
Average Price: $237,196 $267,650 $240,818
Home Sales: 193 186 180
Sale/List Price Ratio: 95.7% 95.0% 95.4%
Days on Market: 117 125 100

The median price for single-family, re-sale home rose last month by 4.2% year-over-year. The average price was down 2.5%.

Sales of single-family, re-sale homes were off 11.1% last month compared to September. Year-over-year, home sales were up 5%. Year-to-date, home sales are up 5.4%.

The median price for attached homes and condos was down 2.7%  year-over-year.

Attached homes and condo sales were up 7.2% year-over-year. Year-to-date, they are up 6.6%.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month -3.1% -26.5% 103.7% Jun-07 Apr-09
12-month 4.5% -20.0% 97.0% Nov-07 Nov-09
Homes: attached      
3-month -11.6% -40.1% 44.0% Mar-06 Oct-11
12-month -0.3% -31.4% 43.4% Jun-06 May-12
The 3-month moving average median price for detached homes is off 3.1% from January 2015. The median price is up 103.7% from the bottom of the market, but is still down 26.5% from the peak.

In October, the 3-month moving average median price is off 11.6% for attached homes since January 2015. It is up 44.0% from the bottom of the market which was in October 2011.

Sales momentum…

for homes, dipped 0.1 of a points to +4.7. Sales momentum for condos rose 0.3 of a point to +5.1. (See charts below)

We calculate…

momentum by using a 12-month moving average to eliminate seasonality. By comparing this year’s 12-month moving average to last year’s, we get a percentage showing market momentum.  

In the chart below…

the blue area shows momentum for home sales while the red line shows momentum for the median price.

Pricing momentum…

for detached homes gained 0.1 of a point to  +2.5. Pricing momentum for attached homes dropped 1.1 points to 0.0.

Palm Springs Area Real Estate Market Momentum Chart

Palm Springs area real estate condo/attached home sales momentum

 

Palm Springs area real estate

The following tables break-down the market into three segments: less than $500,000, $500,000 to $1,000,000 and $1,000,000 and over. The tables are year-to-date.

Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 131.1% 36.8% 60.5%
2001 -59.8% -3.7% -26.2%
2002 22.6% 45.7% 30.0%
2003 12.2% 65.1% 39.3%
2004 16.1% 112.1% 144.2%
2005 -16.6% 10.0% 51.8%
2006 -32.9% -34.3% -0.7%
2007 -32.0% -13.1% -21.3%
2008 82.0% -21.8% -22.0%
2009 47.4% -25.2% -48.9%
2010 -12.6% 19.8% 52.1%
2011 20.0% 7.3% -10.1%
2012 -5.2% 5.3% 25.7%
2013 4.3% 59.4% 33.7%
2014 -25.6% -4.7% 10.0%
2015 -13.0% -18.7% -15.4%
2016 2.2% 15.8% 2.0%
Median Prices
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 12.7% 1.0% 0.0%
2001 14.5% 1.2% -3.8%
2002 18.3% -3.9% 0.0%
2003 13.8% 3.3% -3.2%
2004 23.4% 2.4% -1.1%
2005 16.9% 3.1% 3.0%
2006 0.1% -0.8% 2.6%
2007 -1.6% 1.5% 1.8%
2008 -33.8% -2.2% 7.9%
2009 -26.7% -1.5% -8.9%
2010 9.8% 0.0% -0.9%
2011 -8.9% -1.5% -1.8%
2012 16.4% -0.8% -1.8%
2013 24.2% 2.4% 3.3%
2014 10.3% 0.8% 0.4%
2015 7.0% -0.9% 0.9%
2016 3.1% -1.4% 0.9%

The median price for the under $500,000 segment of the market was up 2.2% year-over-year in October. This segment constituted 73.2% of sales.

Palm Springs area home sales and prices under $500,000

By contrast, the $500,000 to $1,000,000 segment of the market was 22.3% of sales last month. The median price was up 1.3% year-over-year in October.

Palm Springs area home sales and prices

The million dollar plus market was 4.5% of total sales in October. The median price for this segment of the market was off 10.2% year-over-year.

See our Annual Report for year-end numbers.

Palm Springs area real estate $1MM home sales and prices

The graphs below show monthly prices and sales since 2006. We have used a three month moving average to smooth out monthly fluctuations yet retain seasonal flow.

This chart show the number of Palm Springs area homes sold plus the median and average prices since 2005.

This chart show the number of Palm Springs area condos sold plus the median and average prices since 2005.

For full details see the tables below and the Monthly Trends section which breaks out each city's statistics. That menu is at the left.

Also, check out our Annual Trends section for charts and graphs for the past eight years.

The following table provides the median price, the average price and the number of units sold for residential re-sale single family homes.

Palm Springs Area Real Estate Monthly Statistics

Palm Springs Area Real Estate - October 2016
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 345,000  $    440,553 440 4.2% -2.5% 5.0% 1.5% -9.2% -11.1%
Palm Springs  $ 575,000  $    660,144 57 21.1% 13.1% -12.3% 8.2% -21.4% -33.7%
Palm Desert  $ 367,000  $    420,068 57 -3.5% -4.4% -3.4% -8.3% -10.7% -9.5%
La Quinta  $ 397,500  $    502,528 80 -7.8% -20.6% 6.7% 0.4% -8.8% -11.1%
Indian Wells  $ 750,000  $    964,972 18 13.6% -1.1% 63.6% 21.8% 30.6% 80.0%
Rancho Mirage  $ 527,000  $    607,060 24 -13.3% -22.3% 33.3% 3.8% -15.5% -7.7%
Cathedral City  $ 289,000  $    293,273 40 -1.9% 1.9% 29.0% 4.9% 2.2% -31.0%
Indio  $ 317,000  $    338,846 73 15.3% 13.2% -2.7% 9.7% 9.1% 0.0%
Desert Hot Springs  $ 187,000  $    182,942 48 13.4% 11.0% 20.0% 3.9% -0.9% 17.1%
Sun City - PD  $ 319,000  $    324,649 28 2.9% -6.1% 3.7% 1.0% -1.3% -33.3%
Bermuda Dunes  $ 372,500  $    411,648 12 4.6% 9.5% 20.0% -0.7% 3.0% 9.1%
This table provides the median price, the average price and the number of units sold for residential re-sale condominiums.

Palm Springs Area Real Estate - October 2016
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 220,000  $    237,196 193 -2.7% -1.5% 7.2% -3.8% -11.4% 3.8%
Palm Springs  $ 186,750  $    213,581 70 -13.1% -5.7% -4.1% -13.1% -18.4% 14.8%
Palm Desert  $ 225,000  $    248,220 55 -12.8% -4.6% 17.0% -8.2% -11.1% 3.8%
La Quinta  $ 292,500  $    326,776 19 -7.0% -2.8% 18.8% 13.8% 4.8% 0.0%
Indian Wells  $ 423,500  $    419,000 4 32.3% 36.4% -20.0% 22.3% 18.3% 0.0%
Rancho Mirage  $ 280,500  $    308,072 18 3.9% 15.9% -5.3% 10.0% 4.7% -40.0%
Cathedral City  $ 164,500  $    159,417 12 20.8% 9.4% 0.0% 25.1% 20.0% 100.0%
Indio  $ 137,500  $    169,313 8 52.8% 53.9% 166.7% 14.6% 30.7% 33.3%
Desert Hot Springs  $   38,000  $      40,100 5 20.6% 16.2% 66.7% -34.8% -31.2% 150.0%
If we can help you devise a strategy, call or click buyer or seller.  To keep on top of the market, subscribe to this report and you will be notified by e-mail when it is updated each month.

The Graphs

Real estate trend charts for individual cities in the Palm Springs area can be reached by clicking on the City Trends menu to the left.

For detailed information on a specific neighborhood or country club, give Greg Bauer a call at (800) 975-7720, or fill out the appropriate form: Buyers or Sellers.

For our opinion of what your home will sell for in today's market, call or e-mail us.