Single Family Homes

90-day stats for Single Family properties in
PALM SPRINGS, CA 92262 as of November 17, 2017
Median List Price:$640,013Average List Price:$927,517
Total Inventory:222Price per Square Foot:$331
Average Home Size:2,128Median Lot Size:10,381
Average # Beds:3.45Average # Baths:2.91
Homes Absorbed:17Newly Listed:21
Days on Market:120Average Age:36

90-day stats for Single Family properties in
PALM SPRINGS, CA 92264 as of November 17, 2017
Median List Price:$840,185Average List Price:$1,014,856
Total Inventory:154Price per Square Foot:$330
Average Home Size:2,465Median Lot Size:10,588
Average # Beds:3.46Average # Baths:3.22
Homes Absorbed:9Newly Listed:12
Days on Market:132Average Age:40

Condominiums

90-day stats for Single Family properties in
PALM SPRINGS, CA 92262 as of November 17, 2017
Median List Price:$640,013Average List Price:$927,517
Total Inventory:222Price per Square Foot:$331
Average Home Size:2,128Median Lot Size:10,381
Average # Beds:3.45Average # Baths:2.91
Homes Absorbed:17Newly Listed:21
Days on Market:120Average Age:36

90-day stats for Single Family properties in
PALM SPRINGS, CA 92264 as of November 17, 2017
Median List Price:$840,185Average List Price:$1,014,856
Total Inventory:154Price per Square Foot:$330
Average Home Size:2,465Median Lot Size:10,588
Average # Beds:3.46Average # Baths:3.22
Homes Absorbed:9Newly Listed:12
Days on Market:132Average Age:40

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.