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Tuesday, November 5, 2024

Palm Springs median home prices rose by 22.3% in the second half of 2020

Realestate3

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Adobe Stock

The median sale price of a home sold in the second half of 2020 in Palm Springs rose by $93,500 while total sales increased by 257.7%, according to BlockShopper.com.

From July through December of 2020, there were 762 homes sold, with a median sale price of $512,500 - a 22.3% increase over the $419,000 median sale price for the same period of the previous year. There were 213 homes sold in Palm Springs in the second half of 2019.

The median sales tax in Palm Springs for the most recent year with available data, 2016, was $3,106, approximately 0.6% of the median home sale price for the second half of 2020.

The following table compares Palm Springs to other Riverside County cities with similar median sale prices in the second half of 2020:

CityJuly - Dec. 2020 Home SalesJuly - Dec. 2019 Home Sales% change (Total Home Sales)July - Dec. 2020 Median Sales PriceJuly - Dec. 2019 Median Sales Price% change (Median Sales Price)
Rancho Mirage45891403.3%$573,500$530,0008.2%
Mira Loma 5427100%$555,000$500,00011%
Canyon Lake17450248%$543,500$475,00014.4%
Mountain Center 349277.8%$534,000$420,00027.1%
Temecula919340170.3%$530,000$479,50010.5%
Palm Springs762213257.7%$512,500$419,00022.3%
La Quinta745188296.3%$510,000$421,00021.1%
Thermal10-$500,000$0-
Colton 41300%$494,500$161,500206.2%
Wildomar15265133.8%$482,000$420,00014.8%
Murrieta1,093343218.7%$480,000$435,00010.3%

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