The latest Desert Housing Report indicates a shift to a buyer’s market, although inventory in Palm Springs saw a slight year-over-year decrease. Palm Springs recorded the lowest average selling time in the valley at 42 days. Last month, the Coachella Valley’s median price for detached homes was $675,000, a 3% drop from January 2025. Attached home prices also fell 2% to $495,000. In Palm Springs, detached home prices fell 2% to $1.2 million, while attached home prices decreased over 6% to $435,000.
Indian Wells, La Quinta, and Bermuda Dunes experienced increases in detached home prices compared to the previous year. Palm Springs had 110 sales in the three months ending in January, a slight increase from the year before, making it second only to Palm Desert in total sales in the valley. Homes were selling about 3% below list price, a smaller discount than the 3.8% seen last year.
Across the valley, homes are generally selling below list price, with Bermuda Dunes experiencing the highest average discount at 5.2%, and Desert Hot Springs the lowest at 1.6%. Palm Springs listed 709 homes for sale at the end of January, down from 754 the previous year. Valleywide, there was a 3% increase in homes on the market, totaling 3,488 at the beginning of the month.
