Is Palm Desert, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Palm Desert is a seller's market


Difference Since August 2022

Since last year, Palm Desert has remained a Seller's Market.

Key Takeaway

Palm Desert is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Palm Desert, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

The sold price of homes in Palm Desert has remained the same since last year.

Summary: The median home sold price in Palm Desert was $579,088 in August 2023, up 0.1% from last year, and the median price per square foot was $336.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $277K$260K
2 $453.5K$467.2K
3 $650K$660K
4 $928K$865K
5+ $1.7M$970K

Summary: Palm Desert housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes decreased by 45.3%.

Median Sold Price Compared To Nearby Cities

La Quinta
Cathedral City-Palm Desert
Palm Desert
Rancho Mirage
Indian Wells

Housing Supply

How many homes are available in Palm Desert, CA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Palm Desert real estate market had 446 homes for sale in August 2023, a 7.7% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 68
2 200192
3 207172
4 6062
5+ 1012

Summary: The Palm Desert housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 16.9%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm Desert, you may be able to get a good deal. 61.4% of homes here sold below asking price last month.

Summary: A total of 101 homes were sold or pending in Palm Desert in August 2023, down by 18.5% month-over-month. Of the 101 sold homes, 61% were sold under asking, 31% were sold at asking, and 8% were sold over asking.

Days on Market

How long does it take to sell a home in Palm Desert, CA?

Average Sale Time

Aug 2022Aug 2023CHANGE
36 Days47 Days+30.3%

Summary: Homes in Palm Desert had an average of 47 days on market in Aug 2023, up by 30.3% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

44 Homes Were Sold
In 30 - 90 Days

16 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Palm Desert has remained consistent over time.

Summary: During August 2023, 101 homes were sold in Palm Desert; 41% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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Nearby Markets

What housing markets are near Palm Desert, CA?