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Kevin Stanley Best Realtor in Palm Springs
Kevin Stanley Best Realtor in Palm Springs

Greater Palm Springs Real Estate Housing Report

April 2025

PRICES
  • The median price of a detached home in the Coachella Valley increased for the six straight month to $725,000, which is $500 less than last year.
  • Year over year price changes in the average size detached home range in each city from a gain of 22.3% in Indian Wells to a decline of 3.8% in Palm Springs.
  • The median price of attached homes in the Valley ended April at $500,000, which is $5,000 below last year.
  • Gains of the average size attached home range from 13.9% in Indian Wells to minus 10.5% in La Quinta.
SALES
  • Total three-month sales are effectively unchanged from last year.
  • The three month average this April was 734 units compared to 736 units a year ago. Palm Desert still has the highest unit sales at 172, followed by Palm Springs with 142 and La Quinta with 135.
  • Dollar sales in April were $702 million, which is 16 million more than last year.
INVENTORY & MONTHS OF SALES RATIOS
  • On May 1st, Valley inventory was 3,799 units, which is 1,349 units more than last year. Inventory has been improving, and current numbers are now comparable to inventory before the pandemic.
  • The Valley’s “months of sales” ratio was 6.2 months, which is 2.1 months more than last year.
  • You see consistent ratios between 4.0 and 6.0 months in most of the nine cities. The ratio in Bermuda Dunes is now the highest at 6.6 months.
SELLING TIMES
  • At the end of April, the median number of “days in the market” in the Coachella Valley was 48 days, which is five days more than last year.
  • Coachella has the lowest average selling time at just 38 days. This is followed by Palm Springs at 45 days and Cathedral City, Palm Desert and Indian wells at 47 days.
  • Desert Hot Springs has the highest median selling time at 53 days.
PRICE DISCOUNTS/PREMIUMS
  • Currently, detached homes are selling at an average discount of 2.6% compared to 2.3% a year ago.
  • Attached homes are selling at a 2.8% discount.
  • The city of Coachella has the smallest average discount at .2%, while Palm Springs and Rancho Mirage are selling homes with the highest average discount of 3.7%.

12-Month Change In Average Prices

Price of The Average Size Single Family/Detached Home

Average Size HomeAverage Price Per SFPrice of Avg. Size HomePrice One Year Ago12 Month Change2011-12 Price Low% From Low
Indian Wells3,450 $655 $2,261,061 $1,848,372 22.3%$666,885 239%
La Quinta2,200 $426 $938,080 $866,360 8.3%$318,164 195%
Indio2,200 $300 $660,792 $636,328 3.8%$156,340 323%
Desert Hot Springs1,600 $253 $404,944 $392,720 3.1%$86,656 367%
Cathedral City1,800 $336 $604,152 $587,511 2.8%$153,216 294%
Rancho Mirage3,175 $450 $1,429,290 $1,410,272 1.3%$506,317 182%
Palm Desert2,200 $344 $756,888 $757,592 -0.1%$302,302 150%
Coachella1,700 $271 $460,743 $471,121 -2.2%$111,367 314%
Bermuda Dunes2,200 $319 $701,888 $728,717 -3.7%$239,325 193%
Palm Springs2,175 $607 $1,319,790 $1,371,979 -3.8%$323,879 308%

Price of The Average Size Condominium/Attached Home

Average Size HomeAverage Price Per SFPrice of Avg. Size HomePrice One Year Ago12 Month Change2011-12 Price Low% From Low
Indian Wells1,950 $407 $792,675 $695,721 13.9%$259,126 206%
Palm Springs1,250 $363 $454,206 $447,375 1.5%$129,788 250%
Rancho Mirage1,775 $331 $587,614 $585,821 0.3%$211,030 179%
Palm Desert1,600 $339 $542,056 $546,800 -0.9%$197,896 174%
Indio1,050 $283 $297,392 $306,479 -3.0%$56,396 427%
Bermuda Dunes1,450 $278 $403,745 $416,310 -3.0%$89,117 353%
Cathedral City1,250 $262 $327,419 $339,850 -3.7%$80,544 307%
La Quinta1,750 $362 $634,060 $708,120 -10.5%$247,713 156%

Home Sales By City - All Homes

  • Sales are about the same in most cities.
  • Palm Desert still has the highest unit sales at 172, followed by Palm Springs with 142 and La Quinta with 135.

Home Sales By Price Range - 3 Month Average Sales - All Homes

  • All price brackets seem to have similar sales numbers compared to last year.

Coachella Valley Housing Annual Listing Inventory April 2025 - All Homes

  • On May 1st, Valley inventory was 3,799 units, which is 1,349 units more than last year. Inventory has been improving, and current numbers are now comparable to inventory before the pandemic.
  • The seasonal pattern now suggests that inventory is probably near its peak as we pass into May.

Listing Inventory By City - All Homes

  • This chart helps agents know what cities have homeowners with the greatest selling interest and how it compares to last year.

Listing Inventory By Price Bracket - All Homes

  • This chart helps locate what price brackets might be responsible for the growth or contraction of inventory.

Months of Sales By City - All Homes

  • The sales and inventory in these ratios include both attached and detached homes.
  • You see consistent ratios between 4.0 and 6.0 months in most of the nine cities. The ratio in Bermuda Dunes is now the highest at 6.6 months.
  • Since “months of sales” is really the supply- demand equation for housing, it shows the housing market is becoming supply heavy. If the ratios move much higher, it will begin to increase selling times eventually putting downward pressure on home prices.

Months of Sales By Price Range - All Homes

  • The sales and inventory in the ratios includes both attached and detached homes.
  • Since “months of sales” ratios are really the supply-demand equation for housing, the large increases over last year shows supply is starting to exceed demand in almost all price brackets.
  • It hasn’t affected prices yet and most probably won’t until selling times begin to lengthen.

Days In The Market All Homes By City

  • This graph compares the median number of “days in the market” in each city to their ratios a year ago. The number includes both detached and attached homes. 
  • Coachella has the lowest average selling time at just 38 days. This is followed by Palm Springs at 45 days and Cathedral City, Palm
    Desert and Indian wells at 47 days.
  • Desert Hot Springs has the highest median selling time at 53 days.

Median Days in the Market by Price Bracket - All Homes

  • This graph compares the median number of “days in the market” by price bracket to the ratio a year ago. The number includes both detached and attached homes.
  • When looking at these numbers, it’s important to notice if any price bracket has an abnormal number of days. Usually, selling times increase with higher priced homes. However, in the current market you don’t see that, which is a positive situation.

Average Selling Discount % by City - Detached Homes

  • This shows the average price discount for detached homes in each city to their ratios a year ago. In general, cities with higher priced homes sell at larger discounts.
  • The city of Coachella has the smallest average discount at .2%, while Palm Springs and Rancho Mirage are selling homes with the highest average discount of 3.7%.

Average Selling Discount % by Price Bracket - All Homes

  • This chart shows the average price discount by price bracket throughout the region compared to the discount a year ago. The average includes both detached and attached homes.
  • As a rule, price discounts increase with higher priced homes, except here you have the lowest discounts in the mid range price brackets.
  • Homes over two million dollars now sell with an average discount of 3.7%.

Source:  The Desert Housing Report April 2025
PSRAR and CDAR by Market Watch LLC.

 Desert Cities includes cities of Indio, Indian Wells, Palm Desert, Cathedral City, La Quinta, Palm Springs, Rancho Mirage, Coachella and Desert Hot Springs. Data provided by Desert Area Multiple Listing Service and its member Associations of REALTORS, who are not responsible for its accuracy.

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