$3,741 Closing Credit*
$315,000
1,000 SqFt
2 Beds
•1 Full Bath
Ryan Wills, Listing Office: HomeSmart
Is Palm Desert, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Palm Desert was a Seller's Market.
Key Takeaway
Palm Desert is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palm Desert, CA
How much do homes in Palm Desert, CA cost?
Median Sold Price
$580,163
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,360(+2.4%)
Key Takeaway
Homes in Palm Desert have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Palm Desert was $580,163 in November 2024, up 2.4% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299K | $324.5K | +8.5% |
| 2 Bedrooms | $470K | $475K | +1.1% |
| 3 Bedrooms | $658.1K | $650K | -1.2% |
| 4 Bedrooms | $899.9K | $910K | +1.1% |
| 5+ Bedrooms | $920K | $915K | -0.5% |
Summary: Palm Desert housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 1.1%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Indian Wells | $1.1M | $1.3M | +21.1% |
| Rancho Mirage | $839.5K | $915.3K | +9.0% |
| Palm Desert | $566.8K | $580.1K | +2.4% |
| Cathedral City-Palm Desert | $663.7K | $670.7K | +1.1% |
| La Quinta | $777.4K | $779.6K | 0.3% |
Housing Supply in Palm Desert, CA
How many homes are available in Palm Desert, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 720 | 830 | +15.3% |
Summary: The Palm Desert real estate market had 830 homes for sale in November 2024, a 15.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 290 | 328 | +13.1% |
| 3 Bedrooms | 309 | 353 | +14.2% |
| 4 Bedrooms | 86 | 111 | +29.1% |
| 5+ Bedrooms | 27 | 30 | +11.1% |
Summary: The Palm Desert housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 106 | 102 | -3.8% |
Asking Price vs. Sold Price
66 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palm Desert, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.
Summary: A total of 102 homes were sold or pending in Palm Desert in November 2024, down by 3.8% month-over-month. Of the 102 sold homes, 65% were sold under asking, 21% were sold at asking, and 15% were sold over asking.
Days on Market for Palm Desert, CA
How long does it take to sell a home in Palm Desert, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 54 Days | +11.1% |
Summary: Homes in Palm Desert had an average of 54 days on market in Nov 2024, up by 11.1% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palm Desert are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 102 homes were sold in Palm Desert; 42% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.