The median price for Palm Springs area single-family, re-sale homes was up again in November. Home sales continued to be anemic for both detached and attached re-sale properties.

The median price for single-family, re-sale home was up 8.8% year-over-year. That is the thirty-second month in a row the median price has been higher than the year before.

Sales of single-family, re-sale homes fell 12.8% last month compared to November 2013. That’s fourteen months in a row home sales have been lower than the year before. Year-to-date, home sales are down 34.2%.

Attached homes and condo sales were off 15.2% year-over-year. Year-to-date, sales are down 29.7%.

The median price for attached homes and condos was up 12.5% from October, but it was up only 0.1% year-over-year.

Since January 2014, the 3-month moving average median price is down 7.2% for attached homes. It is up 43.7% from the bottom of the market which was in October 2011.

The 3-month moving average median price for detached homes is down 1.2% from January 2014. The median price has bounced up 101.4% from the bottom of the market, but is still down 27.3% from the peak

November Statistics

Trends at a Glance
(Single-family Homes)
DataNov 14Oct 14Nov 13
Median Price:$370,000$335,000$340,000
Average Price:$497,320$423,662$459,715
Home Sales:341347391
Sale/List Price Ratio:95.7%96.4%95.9%
Days on Market:11211578
(Attached Homes)
DataNov 14Oct 14Nov 13
Median Price:$225,000$200,000$224,750
Average Price:$251,921$236,387$237,185
Home Sales:156168184
Sale/List Price Ratio:95.8%95.8%96.4%
Days on Market:9511780