Palm Springs Housing Market Report – May 2026
Here's a look at how the Palm Springs, CA real estate market performed in May 2026, based on actual sold data from the MLS.
Market Snapshot
- Homes Sold: 156
- Median Sale Price: $644,500
- Average Sale Price: $957,436
- Average Price Per Sq Ft: $504
- Average Days on Market: 95
- Sale-to-List Price Ratio: 97.2%
Month-Over-Month Trends
Compared to April, the median sale price in Palm Springs moved 7.9% down (from $700,000 to $644,500). The number of homes sold was 27.1% down compared to the prior month (214 vs. 156). Average days on market shifted 9.2% up (87 days to 95 days).
Year-Over-Year Comparison
Compared to May 2025, the median sale price is 10.2% up (from $585,000 to $644,500). Sales volume is 8.2% down year-over-year.
What This Means
Palm Springs' housing market is cooling off this month, with both sales volume and prices pulling back from April's elevated levels. The median price dropped nearly 8% month-over-month to $644,500, suggesting we're returning to more typical seasonal patterns after what may have been an unusually strong spring. However, the year-over-year perspective tells a different story—prices are still up 10.2% compared to May 2025, indicating the market remains fundamentally stronger than it was a year ago, even as momentum slows.
What's worth watching is the rising days on market, now at 95 days versus 87 in April. Combined with a large inventory of 1,160 active listings, this signals a shift toward a more balanced market where buyers have genuine negotiating power. The 97.2% sale-to-list ratio suggests homes are still selling close to asking price, but the longer marketing timeline points to less urgency from purchasers. This could reflect typical late-spring seasonality or growing rate sensitivity—higher mortgage rates continue to weigh on buyer appetite across California.
For sellers, the takeaway is clearer: expect your home to sit on the market longer and potentially negotiate harder. For buyers, inventory levels and extended marketing times offer more breathing room to be selective.
Palm Springs Sales by Zip Code
| Zip Code | Homes Sold | Median Price | Avg $/SqFt | Avg DOM |
|---|---|---|---|---|
| 92262 | 78 | $652,500 | $526 | 101 |
| 92264 | 78 | $614,500 | $483 | 89 |
Sales by Property Type
| Property Type | Homes Sold | Median Price | Avg $/SqFt |
|---|---|---|---|
| SINGLE_FAMILY | 74 | $1,175,000 | $630 |
| CONDOS | 59 | $417,500 | $376 |
| LAND | 8 | $311,000 | N/A |
| CONDO | 6 | $322,500 | $401 |
| TOWNHOMES | 4 | $690,000 | $407 |
| MOBILE | 3 | $125,000 | $126 |
| MULTI_FAMILY | 2 | $980,000 | $856 |
Sales by Price Range
| Price Range | Homes Sold |
|---|---|
| Under $100K | 4 |
| $100K - $199K | 8 |
| $200K - $299K | 14 |
| $300K - $399K | 14 |
| $400K - $499K | 16 |
| $500K - $749K | 35 |
| $750K+ | 65 |
Current Active Listings
As of this report, there are 1,160 active listings in Palm Springs with a median asking price of $686,500 and an average of 97 days on market.
Thinking About Selling Your Palm Springs Home?
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