Palm Springs, CA housing market

If you are thinking about selling in Palm Springs this summer, the number to remember is sixty-nine. That is the median days on market right now, which means the typical home here sits for more than two months before finding a buyer. Supply is part of the story. There are about 700 homes for sale, and only around 150 new listings came on last month, so buyers have plenty to choose from and no reason to rush. That pressure is showing up in prices. Nearly one in five active listings has taken a price cut, and the typical home value is about six hundred sixteen thousand dollars, down roughly 1.6 percent over the past year. Meanwhile, the median list price is near six hundred eighty-eight thousand dollars, well above where values actually sit. For sellers, the lesson is simple. In a market this slow, overpricing means waiting, then cutting. Price it right from day one and you can still sell on your terms.