Palm Desert Homes for Sale & Real Estate Listings

In October 2024, the real estate market in Palm Desert showed a slight cooling in prices, with median home prices dipping 0.43% year-over-year to $575,000. However, the market displayed increased activity, with 93 homes sold—an impressive rise from 76 sales during the same period last year. Homes are taking longer to sell, averaging 68 days on the market compared to 59 days in October 2023, indicating a more deliberate pace of transactions. This combination of modestly lower prices and higher sales volume suggests a market adjusting to shifting buyer and seller dynamics.

The Palm Desert housing market is relatively uncompetitive, with homes typically selling in about 68 days and multiple offers being uncommon. On average, homes sell for approximately 2% below their list price and take over two months to go pending. However, "hot" properties—those that are highly sought after—can sell closer to the list price and go pending in a much shorter time frame, around 31 days. This indicates that while the overall market may be slower, desirable homes still attract quicker transactions and stronger buyer interest.

In October 2024, Palm Desert, CA, reflected a balanced real estate market, indicating that the supply of homes is roughly in line with buyer demand. This equilibrium suggests neither buyers nor sellers have a distinct advantage, fostering stable pricing and moderate competition. Such conditions often lead to measured transactions, where homes take an average of 68 days to sell, with prices slightly below the list in most cases.