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

Housing Market Conditions



Gauge showing Palm Springs is a buyer's market


Difference Since November 2022

At the same time last year, Palm Springs was a Seller's Market.

Key Takeaway

Palm Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Palm Springs, CA

How much do homes in Palm Springs, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

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

Summary: The median home sold price in Palm Springs was $625,686 in November 2023, up 0.2% from last year, and the median price per square foot was $415.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $243K$255K
2 $465K$454.8K
3 $958.3K$957.4K
4 $1.3M$1.3M
5+ $2.2M$1.7M

Summary: Palm Springs housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 4.9%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 22.6%.

Median Sold Price Compared To Nearby Cities

Cathedral City-Palm Desert
Palm Springs
Cathedral City
Rancho Mirage
Mountain Center

Housing Supply in Palm Springs, CA

How many homes are available in Palm Springs, CA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Palm Springs real estate market had 734 homes for sale in November 2023, a 13.1% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 6573
2 209234
3 242273
4 102120
5+ 3134

Summary: The Palm Springs housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 9.7%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palm Springs, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 93 homes were sold or pending in Palm Springs in November 2023, up by 3.3% month-over-month. Of the 93 sold homes, 67% were sold under asking, 23% were sold at asking, and 11% were sold over asking.

Days on Market for Palm Springs, CA

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

Average Sale Time

Nov 2022Nov 2023CHANGE
38 Days61 Days+57.7%

Summary: Homes in Palm Springs had an average of 61 days on market in Nov 2023, up by 57.7% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

23 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Palm Springs are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 93 homes were sold in Palm Springs; 48% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 25% 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 3 Days Ago

Newest Listings in Palm Springs, CA

Nearby Markets to Palm Springs, CA

What housing markets are near Palm Springs, CA?