Palm Springs Real Estate Update

The Real Estate Market in Palm Springs, California

Is it time to invest in a home in Palm Springs?

Yes! The housing market in Palm Springs, CA is a buyer’s market, which means there are roughly more active homes for sale than there are buyers. Buyer’s markets are generally more advantageous for buyers rather than sellers.

There are 42 neighborhoods in Palm Springs. Old Las Palmas has a median listing price of $2M, making it the most expensive neighborhood. Palm Springs Villas is the most affordable neighborhood, with a median listing price of $118K.

Local Market Stats

  • $400k

    Average Sale Price

  • 25%

    Increase since last year

  • 2.9%

    Under List Price

  • 51

    Days on Market

  • $247

    Sale $ / Sq Ft

  • 13%

    Increase since last year

  • 17.1%

    Avg. Down Payment

  • 191

    Homes Sold in Last 30 Days

Home sales in the city of Palm Springs, CA in March 2019 were down 2 percent from last March. At the same time, the number of homes for sale has increased by 3% over the year.

The average home sold last month for $400,000, 12% more than the year before. Homes sold last month were on the market for an average 62 days, 3 days less than this time last year.

On average, homes in Palm Springs sell for about 3% below their asking price.

Don’t Wait – Schedule an Inspection Today!

Your home is one of the biggest investments you’ll ever make.

Protect that investment and the future it represents by working with Cal-Spec Inspections.