August 2026 Market Data •Redfin City-Limits Figures

Here’s where the Palm Springs market stands as of August 2026, the most recent full month of closings, with year-over-year comparisons to August 2025. Figures are Redfin city-limits data.

At a Glance — Palm Springs, August 2026

“Competition” reflects Redfin’s Compete Score — a 0–100 rating of how hard buyers compete for homes over the trailing three months, based on how many offers homes receive, how often they sell above asking, how quickly they go pending, and the sale-to-list ratio.

Prices and Pace

Palm Springs posted a $589,610 median in August, down 10.0% from last August and off roughly 13% from its June reading. That is the softest annual comparison in the Coachella Valley. The offsetting figure is volume: 381 homes closed, up 2.0% year over year, so the market is still transacting — it is simply doing so at lower prices and with a heavier mix of condominium and entry-level product.

Pace remains slow. Median days on market fell five days from a year ago to 88, but the typical Palm Springs home now goes pending in about 94 days, up from roughly 78 in June. The city carries a not very competitive rating with a Compete Score of 21.

Where the Leverage Sits

Buyers have the upper hand and the data is consistent about it. The sale-to-list ratio came in at 96.6% — the average sale closed about 4% under asking — and only 8.2% of homes sold above list. Most telling, 35.2% of listings took a price cut before selling, the highest reduction rate in the valley. More than one seller in three misjudged their opening number. For a buyer, that is a map of where the negotiating room is.

What This Means for Buyers

This is one of the most negotiable markets in Southern California right now. With three months to pending, an average 4% discount and a third of listings already reduced, there is no reason to rush or to lead with your strongest offer. Ask for days on market and the full price history on everything you consider seriously.

Palm Springs has more variation in product than almost any city in the valley — mid-century single-family homes, condominium complexes, and neighborhoods where the land is leased rather than owned. A land lease materially changes both value and financing, so confirm the ownership structure and the remaining lease term early. HOA dues on condominium product also vary widely and should be part of any price comparison.

What This Means for Sellers

The reduction rate is the message and it is a blunt one: more than a third of Palm Springs sellers cut their price before closing. Homes that reduce almost always net less than homes priced correctly on day one, and with three months to pending, a wrong opening number costs a full season.

Price to your own segment. A mid-century single-family home in the Movie Colony and a condominium in a large complex are not competing for the same buyer, and the citywide median reflects neither. Get the presentation right before launch, price against your genuine comparable sales, and if you have flexibility, plan for a fall launch when the seasonal buyer pool returns.

Bottom Line

Palm Springs is the softest market in the Coachella Valley on price — down 10.0% year over year — though volume is holding up. With the valley’s highest price-reduction rate, a three-month clock and average sales about 4% below asking, buyers have substantial leverage and sellers have very little margin for an ambitious opening price.

Data provided by Redfin (redfin.com). Figures are city-limits monthly data for August 2026; competitiveness and time-to-pending reflect Redfin’s trailing three-month Compete Score.