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The Palm Springs real estate market continues to heat up, with home prices on the rise and inventory dwindling, signaling a strong seller’s market that could lead to further price increases in the coming weeks.
This week the median list price for Palm Springs, CA is $1,150,000 with the market action index hovering around 33. This is an increase over last month’s market action index of 32. Inventory has decreased to 273.
Market Action Index
Market Narrative
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Condos
This week the median list price for Palm Springs, CA is $400,000 with the market action index hovering around 34. This is about the same as last month’s market action index of 34. Inventory has decreased to 225.
Market Action Index
Market Narrative
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
See the full Palm Springs market report here.
View more Luxury Real Estate Market Reports on LH Living.
This Market Report has been provided by
Doug Balog
LuxuryHomes.com Affiliate
