Palm Springs Condominium Market Update

[Marius Olbrych]

Palm Springs Condo Market Update – April 2025

Hey BP community,

Here’s a fresh pulse check on the Palm Springs condominium market as of April 2025. Whether you’re investing locally or simply tracking opportunities from afar, this month's data reveals some compelling trends worth discussing.

Market Overview

• Median List Price: $449,000

• Price per Sq Ft: $378

• Median Rent: $2,600/month

• Market Action Index (MAI): 32 — indicating a slight seller’s advantage

• Inventory: 359 condos (increased from last month)

The Market Action Index is our gauge of market strength. While the MAI dipped slightly from 33 to 32, it still reflects a mild seller’s advantage. However, it’s worth noting that 47% of listings have seen price reductions, signaling growing negotiation opportunities.

Time on Market

• Average Days on Market: 97

• Median Days on Market: 63

Buyers and investors appear to have more breathing room in this environment, as properties are staying active for longer.

Segment Snapshot
Here’s a breakdown of four key pricing tiers within the Palm Springs condo market:

Median Price	Size (SqFt)	Beds	Baths	Age	Days on Market
$845,900	1,923	2	2	52	49
$534,500	1,372	2	2	46	63
$379,000	1,131	2	1.8	46	59
$250,000	705	1	1	44	77

Across the board, these properties tend to be older builds—offering potential for value-add strategies, especially for those comfortable managing renovations or repositioning units for long- or mid-term rentals.

Investor Insight

The Palm Springs condo market appears to have reached a temporary plateau. With no recent price increases reported and nearly half of listings reducing asking prices, we’re entering a moment of recalibration.

Rising inventory and longer days on market could suggest more negotiation power for buyers, especially for investors focused on long-term value and cash flow.

At $378 per square foot, remodeled units may still justify strong resale values depending on finish level, comps, and market timing.

Are you seeing more opportunities in the Palm Springs condo space lately?
How are you adjusting your buy box or renovation strategies given longer time on market and pricing adjustments?
Are you preparing for a potential buying window—or sitting tight to see how Q2 shakes out?

Looking forward to hearing your thoughts and experiences.