Real Estate Market Report - Palm Springs, CA (Nov, 2023)

by Test Xinjiagou4

Current Market Condition

2,764

Active Listings

468

Pending Listings

$759,000

Median List Price

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The median sale/list price data shows that the median home prices are expected to fluctuate throughout the year, with a high of $799,000 in October 2023 and a low of $495,000 in December 2022. The data also shows that there is a significant difference in median prices between the two data sets, with the first set having higher median prices overall.

Median Sale/List Price

List Price

Sale Price

The median sale price per square foot fluctuated throughout the 12-month period analyzed, ranging from a low of $394.18 in October 2023 to a high of $460.85 in February 2023. Despite some variation, the median sale price remained relatively stable over the course of the year, with the lowest and highest values differing by only about 17%.

Median Sale Price per Square Foot

The median sale price to list price ratio fluctuated throughout the data period, ranging from 0.974 to 0.989. However, overall, the ratio remained relatively stable, with only small changes observed month to month.

Median Sale Price to List Price Ratio

The first set of data shows that the number of properties sold/listed steadily increased from November 2022 to October 2023, with a peak of 429 properties in April 2023. The second set of data shows that the number of properties listed for sale remained relatively stable over the same time period, with a high of 230 in May 2023.

Properties Sold/Listed

Properties Listed

Properties Sold

The data shows that the median days on market for real estate listings fluctuated between 28 and 68.5 days over a period of 11 months, with the shortest median days being in October 2023 at 28 days and the longest median days being in January 2023 at 68.5 days. There were also several months where the median days on market were below 50 days, indicating a potentially competitive market for home buyers.

Median Days on Market

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