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Monday, November 25, 2024

What happened to the median home price in Palm Springs during October 2020?

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The median sale price of a home sold in October 2020 in Palm Springs rose by $15,250 while total sales increased by 79.6%, according to BlockShopper.com.

In October 2020, there were 176 homes sold, with a median sale price of $477,000 - a 3.3% increase over the $461,750 median sale price for the same period of the previous year. There were 98 homes sold in Palm Springs in October 2019.

The median sales tax in Palm Springs for the most recent year with available data, 2019, was $3,474, approximately 0.7% of the median home sale price for October 2020.

The following table compares Palm Springs to other Riverside County cities with similar median sale prices in October 2020:

CityOct. 2020 Home SalesOct. 2019 Home Sales% change (Total Home Sales)Oct. 2020 Median Sales PriceOct. 2019 Median Sales Price% change (Median Sales Price)
Winchester 4859-18.6%$522,500$395,00032.3%
Mountain Center 105100%$500,000$570,000-12.3%
Thermal10-$500,000$0-
Murrieta28120040.5%$495,000$436,00013.5%
Wildomar41387.9%$495,000$406,00021.9%
Palm Springs1769879.6%$477,000$461,7503.3%
Rubidoux 2021-4.8%$472,500$400,00018.1%
Riverside35230017.3%$465,000$415,00012%
Colton 110%$460,000$605,000-24%
Lake Elsinore957526.7%$435,000$374,00016.3%
Romoland 4333.3%$426,000$434,000-1.8%

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