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The Palm Springs real estate market, like the greater California market, is typically hot — so the best time to buy a house in Palm Springs is usually now. However, you'll want to consider several other factors, like listing price trends throughout the year.
In recent years, listing prices for homes in California have been lowest in April. On average, homes were $158,882 less expensive. While in November — the month with the highest prices — the listing prices were $165,094 more than the annual average.
Mortgage rates, on the other hand, were lowest in December. But with interest rates on the rise, it pays to explore your options with a trusted mortgage provider to make sure you get the best rate possible.
In truth, the best time to buy a house depends on your priorities and situation. Read on to find out when is the best time to buy a house in Palm Springs!
Best month for
11.5% lower than average
13.2% more homes to choose from
2.88% interest for 30-year mortgage
Realtor.com data (10/1/2020)
Bankrate data (12/1/2020)
If you're interested in buying a home, the first step is to connect with a real estate agent who knows the local market. Economic conditions in Palm Springs can shift in a matter of weeks, and a knowledgeable agent will keep you up to date on the best times and neighborhoods to start your search.
A free service like Clever Real Estate can match you with top agents from trusted brands like RE/MAX and Keller Williams.
Interview as many agents as you'd like until you find the perfect fit, or walk away at any time with no obligation. Add your zip code below to request hand-picked agent matches today!
The best time of year to buy a house in Palm Springs, CA
Generally, the best time of year to start searching for a home in California is in April, May, or June. You'll have more homes to choose from, and listing prices will likely be lower than average.
In recent years, home values in Palm Springs have been on the rise. The best way to find a home in your price range is to connect with a local realtor. They'll help you navigate the ups and downs of your market and find the best time to buy a house in Palm Springs.
💰 Find a top buyer's agent near me today!
The best places to buy a home in Palm Springs, CA
Deepwell Estates has a long history and plenty of social events for residents to enjoy. The area is compatible with outdoor activities like cycling, jogging, and dog walking. Over the years, many celebrities have spent time here.
Vistas Las Palmas
Vistas Las Palmas is full of restored mid-century homes, some dating back to the 1950s. If you’re looking to take advantage of the dry desert climate and beautiful mountains, this is the place for you.
The Mesa has an array of home styles with a gorgeous mountain backdrop. It's a charming neighborhood, with homes on hillsides and narrow streets.
El Rancho Vista Estates
Going to El Rancho Vista Estates is almost like entering a time capsule, making it one of the most alluring neighborhoods in the area. Over 115 mid-century homes have been restored to their original splendor. You'll also find plenty of activities to take advantage of the sunny days.
Oasis del Sol
Oasis del Sol has a tranquil and inviting atmosphere. This friendly and quiet neighborhood is on the east side of town, surrounded by mountains.
Four ways to get a great deal on a home in Palm Springs, CA
1. Find a great Palm Springs, CA, real estate agent
Partnering with a great local agent means having expert help with the decisions you make during the home buying process. An experienced agent will work to understand your needs and guide you to neighborhoods that fit your criteria.
2. Determine what you need and want in a house
Work with your agent to determine the specifics of what you're looking for, like the size of the house, acreage, location, and price range. An experienced buyer’s agent will help you narrow down your options by pointing out details you may not have considered before.
3. Find a lender and secure financing
Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in Palm Springs, interest rate is one of the biggest factors when choosing a lender. Doing some upfront research and comparing options to find the best rate could save you tens of thousands of dollars over the life of your loan.
For example, in California a typical house is worth $599,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $2,137. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $2,020.
4. Negotiate for the best possible price
After you decide on a house, your agent will advise you on the right amount to offer based on the asking price and perceived value. They'll also negotiate with the seller after the inspection to ensure that you get the best deal possible.
If you're looking for a realtor, Clever can connect you with the top buyer's agents in your area for a free, no-obligation consultation.
Fill out our online form, and a Clever representative will reach out to get the process started and answer any questions.