Single Family Homes

90-day stats for Single Family properties in
PALM DESERT, CA 92211 as of February 16, 2018
Median List Price:$493,812Average List Price:$596,548
Total Inventory:238Price per Square Foot:$215
Average Home Size:2,376Median Lot Size:7,992
Average # Beds:3.09Average # Baths:2.90
Homes Absorbed:20Newly Listed:20
Days on Market:136Average Age:22

90-day stats for Single Family properties in
PALM DESERT, CA 92260 as of February 16, 2018
Median List Price:$690,704Average List Price:$984,824
Total Inventory:173Price per Square Foot:$262
Average Home Size:2,776Median Lot Size:11,929
Average # Beds:3.38Average # Baths:3.13
Homes Absorbed:10Newly Listed:14
Days on Market:120Average Age:34

Condominiums

90-day stats for Condo properties in
PALM DESERT, CA 92211 as of February 16, 2018
Median List Price:$318,557Average List Price:$350,191
Total Inventory:210Price per Square Foot:$192
Average Home Size:1,688Median Lot Size:n/a
Average # Beds:2.49Average # Baths:2.42
Homes Absorbed:15Newly Listed:15
Days on Market:153Average Age:29

90-day stats for Condo properties in
PALM DESERT, CA 92260 as of February 16, 2018
Median List Price:$323,654Average List Price:$343,893
Total Inventory:198Price per Square Foot:$202
Average Home Size:1,571Median Lot Size:n/a
Average # Beds:2.43Average # Baths:2.17
Homes Absorbed:16Newly Listed:17
Days on Market:128Average 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.