Monthly Reports

City Monthly Trends

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Real Estate Sales in the Palm Springs Area Pop in May

Sales of both single-family homes and attached/condos ended the season in May with substantial gains: SFR up 14.8% and attached/condo sales up 27.6%, both year-over-year percentages.

Year-to-date, detached home sales in the Palm Springs area are up 14.5%, while attached home sales are up an astounding 27.1%.

The median price for detached homes backed off the torrid pace it has been on and was up only 4.4% last month. The median price for attached homes was down 0.5%.

Expect prices and sales to begin slowing down in June.

Palm Springs Area Real Estate - Home Prices 3-month Moving Average Chart
Palm Springs Area Real Estate Home Prices 12-month Moving Average Chart

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May Statistics

Even with the strong price increases, prices still have a ways to go to top the peak of the market.

The 3-month moving average median price for detached homes is up 12.5% from January 2015. The median price is up 136.5% from the bottom of the market, but is still down -14.7% from the peak.

In May, the 3-month moving average median price was up 0.7% for attached homes since January 2015. It is up 64.0% from the bottom of the market which was in October 2011, but is still down 31.8% from the peak.

Palm Springs Area Real Estate - Monthly Reports
Palm Springs Area Real Estate - Monthly Reports

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Sales momentum…

for detached homes, rose 0.8 of a point to +11.5. Sales momentum for attached homes rose a full point to +16.4. (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 charts below the blue area shows momentum for home sales while the red line shows momentum for the median price.

Pricing momentum for detached homes was flat at +5.7. Pricing momentum for attached homes gained 0.6 of a point to +0.6.

Palm Springs Area Real Estate - Monthly Reports
Palm Springs Area Real Estate - Monthly Reports
Palm Springs Area Real Estate - Monthly Reports

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Combined: Home Prices and Sales

The median price for the under $500,000 segment of the market was up 6.9% year-over-year in May. This segment constituted 66.1% of sales.

Palm Springs Area Real Estate - Monthly Reports

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By contrast, the $500,000 to $1,000,000 segment of the market was 24.1% of sales last month. The median price was up 4.9% year-over-year in May.

Palm Springs Area Real Estate - Monthly Reports

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The million dollar plus market was 9.7% of total sales in May. The median price for this segment of the market was up 3.8% year-over-year.

Palm Springs Area Real Estate - Monthly Reports

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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.

Palm Springs Area Real Estate - Monthly Reports

Monthly Prices and Sales

The graphs show monthly prices and sales since 2006. We have used a three month moving average to smooth out monthly fluctuations yet retain seasonal flow.

Palm Springs Area Real Estate - Monthly Reports

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Palm Springs Area Real Estate - Monthly Reports

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For full details see the tables and the Monthly Trends section which breaks out each city’s statistics.

The following table provides the median price, the average price and the number of units sold for residential re-sale single family homes.

Palm Springs Area Real Estate - Monthly Reports

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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 - Monthly Reports

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