GREATER PALM SPRINGS AREA MARKET REPORT
CONNECT FOR A FULL AND COMPLIMENTARY COPY OF THIS MONTH HOUSING REPORT
Marius C. Olbrych DRE 02101685
Marius.Olbrych@CbRealty.com
Office Cell: (760) 292-3612
UPDATE FOR SEPTEMBER 2024
Prices: The median price for detached homes fell to $653,726, which is $5,274 below last year’s figure. Attached homes’ median price also dropped slightly to $445,000. Price changes vary by city, with gains up to 22.2% in Coachella and a decline of 6.1% in Palm Springs.
Sales: Total three-month average sales have decreased to 578 units per month, down by 51 units compared to last year. Sales are 29.7% below historical norms, with Palm Desert leading in unit sales.
Inventory: The Valley's inventory has increased to 2,237 units, 576 higher than last year, but still below pre-pandemic levels. The “months of sales” ratio is at 3.7 months, indicating a balanced supply-demand situation.
Market dynamics: Homes are staying on the market longer, with a median of 48 days, up by 10 days from last year. Most homes are selling at slight discounts, with detached homes at a 2.3% discount and attached homes at 3.0%.
Sign up for updates
Monthly Newsletter
We'll send you a periodic update.
- Don't worry, it's not the least bit annoying.
Buy easier
You need a partner who knows the neighborhoods, the market and the process. Who can advise you when to think on it, sleep on it or go all in on it. Because this is about much more than bricks and sticks. This is about your future home. And you don't want to live with it. You want to love it.
Sell faster
You need a partner who knows the neighborhoods, the market and the process. Who can advise you when to think on it, sleep on it or go all in on it. Because this is about much more than bricks and sticks. This is about your future home. And you don't want to live with it. You want to love it.
0
Houses sold in 20230
Houses bought with us0%
Happy customers
© 2023 Coldwell Banker Realty
©2022 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
