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 7.3% year-to-date, while sales of attached homes are up 6.1%.

The median price of single-family, re-sale homes in the Palm Springs area fell for the first time in the last eight months. The median price for condos/attached homes was down from the year before in November for the second month in a row.

The average price for detached homes was up, thanks to a $6MM+ sale and a $3MM+ sale in La Quinta last month.

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.

November Statistics

Trends at a Glance
(Single-family Homes)
Data Nov 16 Oct 16 Nov 15
Median Price: $349,000 $345,000 $359,900
Average Price: $503,517 $440,553 $458,606
Home Sales: 453 440 339
Sale/List Price Ratio: 91.7% 96.3% 96.5%
Days on Market: 95 103 116
(Attached Homes)
Data Nov 16 Oct 16 Nov 15
Median Price: $209,000 $220,000 $233,750
Average Price: $237,591 $237,196 $255,521
Home Sales: 189 193 188
Sale/List Price Ratio: 95.1% 95.7% 95.2%
Days on Market: 106 117 111

The median price for single-family, re-sale home fell last month by 3.0% year-over-year. The average price was gained 9.8%.

Sales of single-family, re-sale homes were up 3.0% last month compared to October. Year-over-year, home sales were up 33.6%. Year-to-date, home sales are up 7.3%.

The median price for attached homes and condos was down 10.6%  year-over-year.

Attached homes and condo sales were up 0.5% year-over-year. Year-to-date, they are up 6.1%.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month -3.2% -26.6% 103.5% Jun-07 Apr-09
12-month 4.2% -20.2% 96.4% Nov-07 Nov-09
Homes: attached        
3-month -12.8% -40.9% 42.1% Mar-06 Oct-11
12-month -1.1% -32.0% 42.3% Jun-06 May-12
The 3-month moving average median price for detached homes is off 3.2% from January 2015. The median price is up 103.5% from the bottom of the market, but is still down 26.6% from the peak.

In October, the 3-month moving average median price is off 12.8% for attached homes since January 2015. It is up 40.9% from the bottom of the market which was in October 2011.

Sales momentum…

for homes, jumped 2.2 points to +6.9. Sales momentum for condos fell one point to +4.1. (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 dipped 0.3 of a point to  +2.2. Pricing momentum for attached homes dropped 1.3 points to -1.3.

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.

Home Sales
Percent Change From Year Before
  <$500K >=$500K and <$1MM >=$1MM
2000 119.9% 34.2% 61.3%
2001 -58.4% -4.0% -24.0%
2002 23.6% 46.0% 30.6%
2003 12.4% 66.5% 38.3%
2004 15.7% 108.7% 149.7%
2005 -18.0% 11.2% 48.6%
2006 -32.8% -34.9% -3.7%
2007 -31.6% -13.3% -19.4%
2008 86.8% -23.0% -26.1%
2009 44.3% -21.2% -45.1%
2010 -11.3% 16.6% 49.3%
2011 18.0% 7.7% -8.1%
2012 -5.1% 7.5% 22.5%
2013 1.5% 52.9% 34.5%
2014 -24.7% -4.4% 6.8%
2015 -12.7% -16.9% -15.2%
2016 4.4% 16.5% 3.8%
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 0.9% year-over-year in November. This segment constituted 70.2% 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 23.2% of sales last month. The median price was down 2.7% year-over-year in November.

Palm Springs area home sales and prices

The million dollar plus market was 6.6% of total sales in November. The median price for this segment of the market was up 15.7% 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 - November 2016
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $  349,000  $  503,517 453 -3.0% 9.8% 33.6% 1.2% 14.3% 3.0%
Palm Springs  $  525,000  $  716,591 91 -7.9% 16.3% 78.4% -8.7% 8.6% 59.6%
Palm Desert  $  422,000  $  423,403 46 15.9% 1.4% 9.5% 15.0% 0.8% -19.3%
La Quinta  $  445,000  $  756,114 75 1.1% 38.1% -8.5% 11.9% 50.5% -6.3%
Indian Wells  $  756,250  $  998,958 12 -1.1% 1.9% 9.1% 0.8% 3.5% -33.3%
Rancho Mirage  $  575,000  $  675,217 25 -5.7% 0.6% 47.1% 9.1% 11.2% 4.2%
Cathedral City  $  265,000  $  288,279 51 -7.0% -5.8% 168.4% -8.3% -1.7% 27.5%
Indio  $  285,664  $  319,175 69 -0.1% -5.4% 25.5% -9.9% -5.8% -5.5%
Desert Hot Springs  $  185,000  $  190,032 48 10.8% 9.7% 50.0% -1.1% 3.9% 0.0%
Sun City - PD  $  319,000  $  324,649 28 2.9% -6.1% 3.7% 1.0% -1.3% -33.3%
Bermuda Dunes  $  340,250  $  427,375 4 -29.8% -11.9% -20.0% -8.7% 3.8% -66.7%
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 - November 2016
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $  209,000  $  237,591 189 -10.6% -7.0% 0.5% -5.0% 0.2% -2.1%
Palm Springs  $  209,000  $  232,082 67 -3.6% 0.8% -19.3% 11.9% 8.7% -4.3%
Palm Desert  $  215,000  $  244,906 41 -16.3% -16.2% -16.3% -4.4% -1.3% -25.5%
La Quinta  $  311,750  $  313,963 16 9.4% -2.5% 45.5% 6.6% -3.9% -15.8%
Indian Wells  $  385,000  $  361,591 11 -8.3% -7.2% 0.0% -9.1% -13.7% 175.0%
Rancho Mirage  $  252,500  $  252,206 24 -19.8% -16.0% 50.0% -10.0% -18.1% 33.3%
Cathedral City  $  155,000  $  155,857 15 29.2% 14.9% 66.7% -5.8% -2.2% 25.0%
Indio  $  110,000  $  147,855 11 10.0% 38.7% 266.7% -20.0% -12.7% 37.5%
Desert Hot Springs  $     41,000  $    41,000 2 -37.8% -32.8% -33.3% 7.9% 2.2% -60.0%
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.