Is Palm Springs, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
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, FL
How much do homes in Palm Springs, FL cost?
Median Sold Price
$280,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Palm Springs have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Palm Springs was $280,000 in June 2024, up 3.7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $105K | +5.0% |
| 2 Bedrooms | $255K | $253.2K | -0.7% |
| 3 Bedrooms | $350K | $412.5K | +17.9% |
| 4 Bedrooms | $435K | $482K | +10.8% |
| 5+ Bedrooms | $424.9K | $680K | +60.0% |
Summary: Palm Springs housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 60%.
Median Sold Price Compared To Nearby Cities
| Lake Clarke Shores | $612.5K | $675K | +10.2% |
| Palm Springs | $270K | $280K | +3.7% |
Housing Supply in Palm Springs, FL
How many homes are available in Palm Springs, FL?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 164 | 165 | +0.6% |
Summary: The Palm Springs real estate market had 165 homes for sale in June 2024, a 0.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 49 | 57 | +16.3% |
| 2 Bedrooms | 68 | 64 | -5.9% |
| 3 Bedrooms | 41 | 35 | -14.6% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palm Springs housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.3%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 14.6%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 25 | 18 | -28.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
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 18 homes were sold or pending in Palm Springs in June 2024, down by 28.0% month-over-month. Of the 18 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Palm Springs, FL
How long does it take to sell a home in Palm Springs, FL?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 30 Days | 29 Days | -1.8% |
Summary: Homes in Palm Springs had an average of 29 days on market in Jun 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palm Springs are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 18 homes were sold in Palm Springs; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc. 
© 2024 Miami Association of REALTORS®. All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Miami Association of REALTORS®. All information is deemed reliable but not guaranteed by the MLS and should be independently verified. The MLS, this broker and their affiliates provide all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This property is offered without respect to any protected classes in accordance with the law.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.