Statistical Tables

Palm Springs Area Real Estate

Real Estate Sales Up Year-to-Date

After two years of lower-than-the-year-before sales, single-family, re-sale home sales are up 2.1%, while sales of attached homes are up 5.9%.

Although the median price of single-family, re-sale homes in the Palm Springs area has been flat at $365,000 for the past three months, it has been higher than the year before for the past four months.

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

July Statistics

Trends at a Glance
(Single-family Homes)
Data Jul 16 Jun 16 Jul 15
Median Price: $365,000 $365,000 $329,500
Average Price: $498,636 $507,900 $446,192
Home Sales: 3,618 0 392
Sale/List Price Ratio: 95.5% 95.0% 96.2%
Days on Market: 113 113 118
(Attached Homes)
Data Jul 16 Jun 16 Jul 15
Median Price: $235,000 $225,000 $223,000
Average Price: $253,512 $254,664 $251,179
Home Sales: 221 311 204
Sale/List Price Ratio: 95.3% 95.1% 95.4%
Days on Market: 121 113 128

The median price for single-family, re-sale home rose last month by 10.8% year-over-year. The average price was up 11.8%.

Sales of single-family, re-sale homes were down 20.6% last month compared to June. Year-over-year, home sales fell 0.4%. Year-to-date, home sales are up 2.1%.

The median price for attached homes and condos was up 5.4%  year-over-year.

Attached homes and condo sales were up 8.3% year-over-year. Year-to-date, they are up 5.9%.

Desert Price Differences
from January 2015 & Peak & Trough
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 4.3% -22.2% 115.6% Jun-07 Apr-09
12-month 1.1% -21.7% 92.7% Nov-07 Nov-09
Homes: attached      
3-month -0.1% -36.7% 52.3% Mar-06 Oct-11
12-month -0.1% -32.4% 39.2% Jun-06 May-12
The 3-month moving average median price for detached homes is up 4.3% from January 2015. The median price is up 115.6% from the bottom of the market, but is still down 22.2% from the peak.

Since January 2015, the 3-month moving average median price is off 0.1% for attached homes. It is up 52.3% from the bottom of the market which was in October 2011.

Sales momentum…

for homes, rose 1.1 points to +2.8. Sales momentum for condos rose 3.3 points to +5.3. (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 0.9 of a point to  +1.5. Pricing momentum for attached homes gained 1.2 points to -0.3.

Both sales and pricing momentum show a flattening of the market.

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 190.7% 39.1% 70.7%
2001 -67.4% -1.7% -19.2%
2002 23.6% 39.9% 10.0%
2003 7.9% 62.5% 46.6%
2004 27.6% 122.4% 141.9%
2005 -20.4% 9.8% 48.4%
2006 -29.4% -31.3% 7.8%
2007 -31.0% -10.5% -23.6%
2008 42.7% -24.4% -17.1%
2009 77.6% -34.6% -52.2%
2010 -11.1% 41.8% 53.6%
2011 15.9% 1.1% -10.8%
2012 -0.8% 6.4% 30.4%
2013 8.6% 59.7% 23.0%
2014 -24.7% -1.8% 24.7%
2015 -18.7% -22.6% -20.3%
2016 -0.6% 12.5% -0.9%

The median price for the under $500,000 segment of the market was up 11.2% year-over-year in July. This segment constituted 69.2% 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 24.2% of sales last month. The median price was up 4.8% year-over-year in July.

Palm Springs area home sales and prices

The million dollar plus market was 6.7% of total sales in July. The median price for this segment of the market was off 8.4% 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 - July 2016
SINGLE-FAMILY HOMES
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 365,000  $    498,636 3,618 10.8% 11.8% -0.4% 0.0% -1.8% -20.6%
Palm Springs  $ 521,750  $    673,099 92 2.6% 11.8% 24.3% -8.9% -6.6% -11.5%
Palm Desert  $ 338,375  $    433,317 56 -17.2% -19.3% -1.8% -17.5% -14.2% -41.1%
La Quinta  $ 425,000  $    575,126 83 19.7% 19.1% -23.9% 7.9% -3.2% -32.0%
Indian Wells  $ 861,250  $ 1,149,833 18 -11.4% -14.8% 12.5% 1.3% 34.4% 20.0%
Rancho Mirage  $ 651,500  $    752,909 40 14.5% 6.1% 60.0% 9.5% -16.1% -18.4%
Cathedral City  $ 295,000  $    292,088 52 9.3% 4.2% 18.2% 7.7% 4.2% 2.0%
Indio  $ 306,000  $    366,519 81 11.3% 24.9% 5.2% 2.0% 14.3% -9.0%
Desert Hot Springs  $ 189,000  $    182,974 44 18.9% 12.0% -36.2% -0.3% -3.3% -29.0%
Sun City - PD  $ 319,000  $    324,649 28 2.9% -6.1% 3.7% 1.0% -1.3% -33.3%
Bermuda Dunes  $ 615,000  $    709,667 3 53.2% 71.0% -66.7% 58.7% 47.3% -72.7%
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 - July 2016
Condo/Attached Homes
  Prices   Change from Last Year Change from Last Month
Cities Median Average Sales MedY AveY SalesY MedM AveM SalesM
Combined  $ 235,000  $    253,512 221 5.4% 0.9% 8.3% 4.4% -0.5% -28.9%
Palm Springs  $ 225,000  $    241,242 78 21.3% 6.8% -13.3% 16.6% 3.3% -38.6%
Palm Desert  $ 222,000  $    252,085 73 -4.5% -7.7% 30.4% -6.4% -4.9% -18.9%
La Quinta  $ 315,000  $    347,733 21 -5.4% 2.7% 23.5% -1.7% 11.2% -12.5%
Indian Wells  $ 275,000  $    275,000 1 -22.5% -34.9% -66.7% -25.7% -51.9% -83.3%
Rancho Mirage  $ 250,000  $    281,912 26 -16.7% -3.0% 36.8% -18.0% -3.1% -27.8%
Cathedral City  $ 179,950  $    182,411 16 22.0% 14.1% 33.3% 22.0% 8.4% 0.0%
Indio  $ 160,000  $    164,833 3 -13.0% -27.0% 0.0% 45.5% 38.3% -66.7%
Desert Hot Springs  $   59,000  $      59,000 1 55.3% 55.3% 0.0% -76.4% -76.4% 0.0%
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.