How is our Palm Springs Area Market Doing?

Today we wanted to give you a fall update for our local Coachella Valley real estate market. Record-low inventory and record-high prices are the two conditions causing every Valley city to experience record-high prices. There are a lot more detail to dig into around why and what this means for both buyers and sellers.

You can watch the full message above or skip to topics that interest you using the timestamps provided below for your convenience:

0:28 — The median price of a detached home

1:07 — Total inventory in the valley

1:38  — Every city has shown over 20% year-over-year price gain

2:15 — Our months of sales ratios

2:52 — October 1 months of sales by city and the median value

3:41 — The median days in the market throughout the Valley

4:05 — The three month average of total sales

4:38 — The mortgage rate jump

5:06 — What does this mean for you?

6:03 — Wrapping up

If you have any questions about the value of your home or if you’d like to explore purchasing a home in the Greater Palm Spring area, feel free to call, email, or text us. We’d be happy to talk about your specific situation. Even if you just have some real estate questions, don’t hesitate to reach out to us.