Single Family Homes

90-day stats for Single Family properties in
PALM DESERT, CA 92211 as of May 25, 2018
Median List Price:$489,223Average List Price:$598,670
Total Inventory:191Price per Square Foot:$217
Average Home Size:2,397Median Lot Size:8,410
Average # Beds:3.14Average # Baths:2.92
Homes Absorbed:24Newly Listed:16
Days on Market:141Average Age:22

90-day stats for Single Family properties in
PALM DESERT, CA 92260 as of May 25, 2018
Median List Price:$710,600Average List Price:$1,077,971
Total Inventory:190Price per Square Foot:$264
Average Home Size:2,792Median Lot Size:12,230
Average # Beds:3.41Average # Baths:3.25
Homes Absorbed:16Newly Listed:13
Days on Market:124Average Age:33

Condominiums

90-day stats for Condo properties in
PALM DESERT, CA 92211 as of May 25, 2018
Median List Price:$323,069Average List Price:$358,219
Total Inventory:189Price per Square Foot:$194
Average Home Size:1,730Median Lot Size:n/a
Average # Beds:2.49Average # Baths:2.44
Homes Absorbed:19Newly Listed:16
Days on Market:150Average Age:29

90-day stats for Condo properties in
PALM DESERT, CA 92260 as of May 25, 2018
Median List Price:$327,581Average List Price:$352,363
Total Inventory:193Price per Square Foot:$208
Average Home Size:1,580Median Lot Size:n/a
Average # Beds:2.41Average # Baths:2.15
Homes Absorbed:18Newly Listed:18
Days on Market:121Average Age:38

From Altos Research –

“Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Keep in mind that an MAI value close to “30” probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it’s likely to be either a buyer’s market or seller’s market based on the individual street or home area that a particular property is in.