Home Values and Prices in Palm Desert 2019

Market Trends

Let's take a look at the Palm Desert home prices and values in the middle of the fourth quarter of 2019. We've slowed down from the summer but things tend to pick up in hotter climates during the fall and winter months. There are audit locals due to holidays but still, people tend to look for properties around this time because of the milder weather, and less competition.

Currently, the home value index it's at about $365,000 and Palm Desert as a whole is considered a hot seller's markets. Homes are not on the market for very long even though they are about six days longer than they were last year at this time. There's less than 1% of distressed properties and a median list price of $399,000. This is actually lower than it was a year ago where the median list price topped out at $420,000. However, this also meant that not every home sold for its asking price.

There are a total of 1800 properties for sale throughout the Palm Desert area, and this includes foreclosures, short sales, vacant properties, condominiums, manufactured homes, and single-family properties.

Some of the hottest neighborhoods in the area continue to be Pines to Palms Highway, City Center, Palm Desert Country, and neighborhoods close to the Fairway Dr., Monterey Avenue, Portola Avenue, and Abronia Trail.

Median home values are about $441,000 with the majority of properties (24%) falling between $248,000 and $371,000. This is followed closely at 21% of properties within $371,000 and $495,000. Less than 4% of the homes are priced over $1.2 million in less than 4% are priced under $50,000.

Economists predict a 2.6% increase in home prices and values over the next year. The median sale price, however, which can vary greatly from the list price, came in at $353,800 as of August 31, 2019.

Both home values and rents have steadily increased since the end of 2012. By December 2012 the index showed at just $250,000. It is forecasted to be up to $364,000 by the end of 2020.

For more information on Palm Desert real estate prices, values, and average sold price give me a call today. Want to know what "that" particular home sold for? Give me a call with the address and I would be happy to let you know.

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