Statistical Tables

Palm Springs Area Real Estate

Real Estate Sales and Prices Continue Rising

After two years of lower-than-the-year-before sales, single-family, re-sale home sales are up 2.8% year-to-date, while sales of attached homes are up 7.2%.

Although the median price of single-family, re-sale homes in the Palm Springs area declined last months, it has been higher than the year before for the past five months.

Attached home prices have been higher than the year before six of the past eleven 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.

August Statistics

Trends at a Glance
(Single-family Homes)
Data Aug 16 Jul 16 Aug 15
Median Price: $350,000 $365,000 $322,214
Average Price: $480,044 $498,636 $429,464
Home Sales: 483 509 446
Sale/List Price Ratio: 95.5% 95.5% 96.0%
Days on Market: 109 113 121
(Attached Homes)
Data Aug 16 Jul 16 Aug 15
Median Price: $217,750 $235,000 $219,000
Average Price: $238,704 $253,512 $228,321
Home Sales: 206 221 173
Sale/List Price Ratio: 94.7% 95.3% 95.6%
Days on Market: 115 121 124

The median price for single-family, re-sale home rose last month by 8.6% year-over-year. The average price was up 11.8%.

Sales of single-family, re-sale homes were down 5.1% last month compared to July. Year-over-year, home sales up 8.3%. Year-to-date, home sales are up 2.8%.

The median price for attached homes and condos was down 0.6%  year-over-year.

Attached homes and condo sales were up 19.1% year-over-year. Year-to-date, they are up 7.2%.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 1.1% -23.3% 112.6% Jun-07 Apr-09
12-month 2.9% -21.2% 94.0% Nov-07 Nov-09
Homes: attached      
3-month -10.1% -39.1% 46.5% Mar-06 Oct-11
12-month -1.7% -32.4% 41.3% Jun-06 May-12
The 3-month moving average median price for detached homes is up 1.1% from January 2015. The median price is up 112.6% from the bottom of the market, but is still down 23.3% from the peak.

Since January 2015, the 3-month moving average median price is off 10.1% for attached homes. It is up 46.5% from the bottom of the market which was in October 2011.

Sales momentum…

for homes, rose 0.4 of a point to +3.2. Sales momentum for condos rose 0.6 of a point to +5.9. (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 one point to  +2.5. Pricing momentum for attached homes gained 0.6 of a point to +0.3.

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.

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%
Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 164.0% 39.9% 62.1%
2001 -64.2% -3.0% -22.4%
2002 23.1% 47.7% 19.3%
2003 9.4% 61.0% 39.4%
2004 22.6% 116.9% 144.2%
2005 -18.1% 10.1% 55.5%
2006 -31.6% -31.5% 1.7%
2007 -29.8% -10.8% -21.6%
2008 49.6% -25.3% -19.1%
2009 66.9% -31.2% -50.9%
2010 -11.2% 33.0% 53.0%
2011 19.4% 2.7% -10.2%
2012 -3.1% 7.4% 25.9%
2013 8.3% 61.5% 28.6%
2014 -26.3% -3.6% 19.5%
2015 -15.9% -22.2% -19.7%
2016 -0.6% 15.2% 0.8%

The median price for the under $500,000 segment of the market was up 5.4% year-over-year in August. This segment constituted 69.4% 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 24.4% of sales last month. The median price was down 1.3% year-over-year in August.

Palm Springs area home sales and prices

The million dollar plus market was 6.2% of total sales in August. The median price for this segment of the market was up 7.0% 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.

Monthly Statistics

Palm Springs Area Real Estate - August 2016
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 350,000  $    480,044 483 8.6% 11.8% 8.3% -4.1% -3.7% -5.1%
Palm Springs  $ 517,500  $    605,575 90 0.5% -3.8% 15.4% -0.8% -10.0% -2.2%
Palm Desert  $ 399,000  $    515,307 51 -2.1% 2.2% 6.3% 17.9% 18.9% -8.9%
La Quinta  $ 375,000  $    564,497 94 7.9% 9.5% 62.1% -11.8% -1.8% 13.3%
Indian Wells  $ 860,000  $ 1,249,585 12 14.7% 43.1% 50.0% -0.1% 8.7% -33.3%
Rancho Mirage  $ 537,500  $    709,575 36 -6.5% 6.1% 38.5% -17.5% -5.8% -10.0%
Cathedral City  $ 262,450  $    294,300 46 -7.4% 2.5% -4.2% -11.0% 0.8% -11.5%
Indio  $ 289,995  $    310,930 76 5.5% 0.3% -6.2% -5.2% -15.2% -6.2%
Desert Hot Springs  $ 190,000  $    191,289 45 12.8% 12.1% -16.7% 0.5% 4.5% 2.3%
Sun City - PD  $ 319,000  $    324,649 28 2.9% -6.1% 3.7% 1.0% -1.3% -33.3%
Bermuda Dunes  $ 370,000  $    432,821 7 -17.1% -11.1% 16.7% -39.8% -39.0% 133.3%
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 - August 2016
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 217,750  $    238,704 206 -0.6% 4.5% 19.1% -7.3% -5.8% -6.8%
Palm Springs  $ 182,500  $    215,508 82 -12.0% 2.9% 13.9% -18.9% -10.7% 5.1%
Palm Desert  $ 235,000  $    274,923 55 -8.6% 2.7% 25.0% 5.9% 9.1% -24.7%
La Quinta  $ 320,000  $    338,500 20 88.3% 33.2% 33.3% 1.6% -2.7% -4.8%
Indian Wells  $ 409,500  $    409,500 2 14.5% 16.3% -66.7% 48.9% 48.9% 100.0%
Rancho Mirage  $ 269,000  $    261,738 21 3.5% -5.6% 31.3% 7.6% -7.2% -19.2%
Cathedral City  $ 126,750  $    131,832 14 -32.4% -34.9% 250.0% -29.6% -27.7% -12.5%
Indio  $   92,250  $    106,917 6 -22.8% -6.3% 0.0% -42.3% -35.1% 100.0%
Desert Hot Springs  $   42,000  $      37,667 3 -23.6% -31.5% 200.0% -28.8% -36.2% 200.0%
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.