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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palm Springs is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Palm Springs, FL cost?

Median Sold Price

$245,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$52,250(+27.1%)

Key Takeaway

Homes in Palm Springs have sold for 27.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $62.2K$77K
+23.7%
2 $166K$220K
+32.5%
3 $295K$360K
+22.0%
4 $355K$410K
+15.5%
5+ $530K$490K
-7.5%

Median Sold Price Compared To Nearby Cities

Lake Clarke Shores
+36.9%
Palm Springs
+27.1%

How many homes are available in Palm Springs, FL?

Number of Homes For Sale

Jul 2022Aug 2022%
8182+1.2%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 2016
-20.0%
2 2930
+3.4%
3 2827
-3.6%
4 27
+250.0%
5+ 22
0.0%

Number of Homes Sold

Jul 2022Aug 2022%
2414-41.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 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. 42.9% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
19 Days20 Days+6.4%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

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

About Palm Springs, FL

Number of homes for sale in Palm Springs, FL real estate market have reached 82. The number of listings in Palm Springs, FL increased by 1.2% between July 2022 and August 2022. The median list price of listings available in August 2022 was $245,000, while the average time on the real estate market was 20 days. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 23.7%, 2 bedrooms properties prices increased by 32.5%, the cost of 3 bedrooms properties went up by 22%, 4 bedrooms properties prices increased by 15.5%, prices of 5 bedrooms properties decreased by 7.5%. Housing inventory have changed in this real estate market: number of 1 bedroom homes decreased by 20%, volume of 2 bedrooms homes went up by 3.4%, 3 bedrooms homes became 3.6% less available, 4 bedrooms homes inventory increased by 250%, number of 5 bedrooms homes remained the same. Palm Springs, FL housing market in August 2022 saw over 5 listings sold above listed price, more than 3 sold at listed price and over 6 sold below.