Palm Springs real estate market report for May 2016
Thinking about buying a home in the desert? Now is the time! As of June 1st, 2016, 780 condos and single-family homes were reported to be on the market in Palm Springs, CA.
In Palm Springs houses go fast. At the rate in which homes sell in this hip SoCal desert oasis it would take just a little less than six months for all 780 properties to be sold. This past month alone 183 listings were sold— that’s just under 50 homes a month!
183 homes sold in Palm Spring in May 2016
As condos and single-family homes continue to sell, the median price of houses in Palm Springs is set to continue rising. Currently the median price is $550,500, which already shows a 4.9% increase from the price in May 2015.
$550,500 is the average Palm Springs home price in May 2016
In short, as places continue to sell quickly on the Palm Springs housing market the more the prices of these homes will rise— with this being said now is the time to buy! There are 780 potential new homes out in one of America’s trendiest cities; any one of them could be your next sanctuary!
A few available luxe properties currently on the market as of May :