Palm Springs Home Price Plummets $765K in 9 Months As California Market Cools
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A Palm Springs home sold for $1.4M in March was relisted for $635K in December, a $765K drop.
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Home prices in expensive markets like San Francisco have fallen 10% from 2022 peaks due to high mortgage rates and prices.
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The Palm Springs home is a 3 bed, 2 bath single-family home built in 1979 with a new pool and modern floors.
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Average home values in Palm Springs fell 2.5% year-over-year to $651K in November per Zillow.
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California home prices rebounded 2.3% year-over-year in November to $746K average due to low inventory, despite some market cooling.