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Wednesday, December 25, 2024

The second half of 2021: Palm Springs experienced a 16.9% increase in median home prices

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The median sale price of a home sold in the second half of 2021 in Palm Springs rose by $87,000 while total sales decreased by 40.7%, according to BlockShopper.com.

From July through December of 2021, there were 616 homes sold, with a median sale price of $602,000 - a 16.9% increase over the $515,000 median sale price for the same period of the previous year. There were 1,038 homes sold in Palm Springs in the second half of 2020.

The median sales tax in Palm Springs for the most recent year with available data, 2019, was $3,474, approximately 0.6% of the median home sale price for the second half of 2021.

The following table compares Palm Springs to other Riverside County cities with similar median sale prices in the second half of 2021:

CityJuly - Dec. 2021 Home SalesJuly - Dec. 2020 Home Sales% change (Total Home Sales)July - Dec. 2021 Median Sales PriceJuly - Dec. 2020 Median Sales Price% change (Median Sales Price)
Yucaipa 23-33.3%$715,000$690,0003.6%
Corona1,1071,488-25.6%$710,000$580,00022.4%
Temecula8981,172-23.4%$660,000$535,00023.4%
Mira Loma 5875-22.7%$657,500$555,00018.5%
Colton 45-20%$602,500$499,00020.7%
Palm Springs6161,038-40.7%$602,000$515,00016.9%
La Quinta5671,024-44.6%$600,000$535,00012.1%
Winchester 188282-33.3%$600,000$479,50025.1%
Canyon Lake152215-29.3%$598,500$542,00010.4%
Murrieta1,0091,413-28.6%$597,000$485,00023.1%
Wildomar179219-18.3%$575,000$482,00019.3%

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