Palm Springs housing market median home price falls as sales increase
Updated
Updated · The Palm Springs Post · Apr 29
Palm Springs housing market median home price falls as sales increase
3 articles · Updated · The Palm Springs Post · Apr 29
The median detached home price in Palm Springs dropped 12.5% year-on-year to $1.1 million in March, while sales rose to 137 units.
Homes are selling faster than anywhere else in the Coachella Valley, with a median 43 days on market and inventory at 769 homes, down from 823 last year.
The market correction follows previous rapid appreciation, with buyers remaining active but more price-sensitive; some neighborhoods still see gains, while overall discounts off list price have narrowed.
As mortgage rates settle, are buyers finally gaining the upper hand in the Coachella Valley?
Is Palm Springs' 12.5% price drop a market correction or the start of a housing crash?
Why are home prices rising in Rancho Mirage while plummeting in neighboring Palm Springs?
What hidden renovation costs await buyers of Palm Springs' iconic mid-century modern homes?
Will a $125M convention center upgrade be enough to reignite Palm Springs' cooling housing market?