Hot Desert Real Estate Information & News

Get hot information about all the desert communities around the Palm Springs and Palm desert areas. You can get market updates of how the real estate market is fairing in all the areas plus interesting things going on.

 

 

New Price

Cute Palm Desert Greens Country Club Manufactured Home With Greenbelt, Golf Course & Mountain Views. Read More...

Calendar of Events 2021

October 2021 Coachella Valley Calendar Of Events. Looking for some things to see and do in October? Read More...

 

Just Listed Move in Ready Bermuda Dunes Home 3 Bedroom 2 Bathroom

Our local residential real estate market experts Market Watch LLC have just released their August 2021 Desert Housing Report. Some highlights: Read More...

August 2021 Coachella Valley Residential Real Estate Market Update

Our local residential real estate market experts Market Watch LLC have just released their August 2021 Desert Housing Report. Some highlights: Read More...

 

Just Listed: Unique Desert Oasis with 100+ Medjool Date Palms

Built as a forever home, this unique Thousand Palms acreage is perfect for investors looking for a short term vacation rental... Read More...

Coming Soon: Unique Central Palm Springs Pied-A-Terre to Downtown

Location, location, location in the Central Palm Springs area. One of just a handful of units in the Villa Alejo complex with its own large front patio overlooking the courtyard pool and spa. Read More...

Dec. 7, 2021

Coachella Valley November 2021 Residential Real Estate Market Update

Our local real estate experts, Market Watch LLC, have just release their Desert Housing Report for November. Some highlights:November Coachella Valley Detached Home Median Price: The median price of detached homes in the Coachella Valley in November was $615,000 (up 17.1% year-over-year from $525,000 in November 2020). Market Watch noted that historically the month of November begins a seasonal period of price strength going back at least 15 years or more. They expect this seasonal pattern to continue and to be enhanced by the continuing large over balance of demand versus supply.

November Coachella Valley Median Attached Price: The median price of attached homes in the Coachella Valley in November was $389,450 (up 23.6% year-over-year from $315,000 in November 2020). Market Watch noted that attached homes also historically have a seasonal period of price strength beginning in November and carrying forward five or six months. They expect this seasonal pattern to continue for attached homes.

Twelve-Month Change in the Price of the Average Size Home in Each City: In November, the twelve-month price increases for detached homes ranged from an increase of 44.4% in the 2,500 sq ft average size detached home sold in Bermuda Dunes (increasing to $774,599 from $536,575) to an increase of 26.2% in the price of the 1,800 sq ft average size detached home sold in Cathedral City (increasing to $515,614 from $408,483). In November, the twelve-month price increases for attached homes ranged from an increase of 71.2% in the 750 sq ft average size attached home sold in Desert Hot Springs (increasing to $110,071 from $64,298) to an increase of 26.3% in the price of the 1,950 sq ft average size attached home sold in Indian Wells (increasing to $592,220 from $468,985).

Monthly Home Sales (Three-month trailing avg.): Total home sales in November averaged 812 homes per month (compared to total home sales of 1,120 homes per month in November 2020 and pre-pandemic November average home sales of 693 homes per month). Monthly sales of detached homes averaged 563 homes (down 26% from monthly detached home sales of 765 homes in November 2020). Monthly sales of attached homes averaged 249 homes (down 28% from monthly attached home sales of 346 homes in November 2020). Market Watch noted that with housing inventory levels so low, unless the number of new listings were to surge, it would be hard to imagine sales rising much above current levels.

Monthly Sales (Twelve-month trailing avg.): Twelve-month average home sales in November averaged 1,036 homes (an increase of 18% year-over-year, but down from the 24% year-over-year increase in total monthly home sales in October). Market Watch felt that the decrease in the twelve-month average of monthly home sales from October to November showed that home sales are beginning to retreat from last year’s high. Market Watch expects long term home sales to continue to decline but stay above pre-pandemic averages.

Home Sales by City: The November three month average of home sales by city showed an equally distributed decline in home sales from year ago levels in the five largest cities in the Coachella Valley (Indio, La Quinta, Palm Desert, Palm Springs and Rancho Mirage). November average home sales in Coachella and Desert Hot Springs increased from those in November 2020.

Home Sales by Price Range: November homes sale by price ranges showed that the decrease in monthly home sales occurred primarily in homes priced under $400,000. Sales of homes priced over $400,000 showed comparable levels to last year. Market Watch noted that some of the decline in monthly home sales for homes priced under $400,000 was due to the general home price increase that resulted in fewer homes listed in this price range.

Coachella Valley Housing Inventory: On December 1st, the total housing inventory in the Coachella Valley fell to 742 homes (173 homes less that on November 1st and down 59% from an inventory level of 1,830 homes on December 1st, 2020). Market Watch stated that this low inventory level was somewhat disconcerting since historically there are large inventory increases in November and December. They noted that other regions in Southern California are also experiencing declining housing inventory levels. Their conclusion was that this trend highlights the fact that the restrictive effects of the pandemic still exist even after widespread distribution of vaccines.

Coachella Valley Overall Months of Sales Ratio: On December 1st, the months of sales ratio for the entire Coachella Valley declined to 0.7 months, which is approaching the months of sales ratio lows registered in mid-summer. One year ago, the months of sales ratio was 2.1 months. Market Watch stated that while these low months of sales ratios continue to bode well for home sellers, they make it very difficult for homebuyers to find homes that meet their wants and needs.

Months of Sales by Price Range: The months of sales ratio was 1 month or less in all price ranges under one million dollars. Even for homes priced over one million dollars, the months of sales ratio was only 1.4 months.

Months of Sales by City: Comparing months of sales ratios in each Coachella Valley city, Market Watch noted that normally the higher median priced cities of Rancho Mirage and Indian Wells have the highest months of sales ratios. On December 1st however, the lower median priced cities of Cathedral City (with a months of sales ratio of 1.1 months), Thousand Palms (with a months of sales ratio of 1.2 months) and Desert Hot Springs (with a months of sales ration of 1.4 months) had the highest months of sales rations in the Coachella Valley.

Coachella Valley Overall Days in the Market: At the end of November, the median days in the market throughout the Coachella Valley was 25 days (one day more than last month but 18 days less than at the end of November 2020). Market Watch noted that with inventory levels low and demand high, forces are in place to possibly push the days in the market even lower. However, they believe that most of the decline has been realized and that the median number will stay near current levels for a while.

Days in the Market by City: In November, Coachella continued to have the lowest detached home days in the market at 14 days, followed by Desert Hot Springs at 20 days and both Palm Springs and Indian Wells at 24 days. Bermuda Dunes had the highest detached home days in the market at 38 days. For attached homes, in November Cathedral City averaged 14 days to sell a home while Palm Springs averaged 17 days. Bermuda Dunes had the highest attached home days in the market at 33 days.

Coachella Valley Overall Median Price Discount From List: The median value for sale price discount from list for detached homes in November was again 0.0% (the same discount that it’s been for the last nine months). Market Watch noted that since so many homes are selling at list price, the median value of the discount for all sales was exactly 0.0% in November. One year ago, the median sale price discount from list was -0.5%.

Average Sale Price Discounts from List by City: Detached homes in Bermuda Dunes sold on average at a premium of 1.9% in November, followed by detached home sales in Indio on average at a premium of 1.7% and detached home sales in Coachella on average at a premium of 1.6%. Only in Indian Wells did detached homes on average sell at a discount (of -1%). For attached homes, homes sales on average sold at a premium of 1.8% in both Indio and Palm Springs. Only in Bermuda Dunes did attached homes on average sell at a discount (of -0.9%).

CalDRE# 01898254 | 01896117 | 01991628

Posted in Market Updates
Dec. 2, 2021

Back On The Market: Desert Retreat With Custom Built Home & Over 2 Acres Of Fenced & Gated Land

This unique Thousand Palms desert estate is perfect for investors looking for a short term vacation rental or wedding/event center, contractors, landscapers or other home-based business owners, horse lovers or just people wanting a very private and unique desert retreat. The custom built, highly upgraded, newer, 4 bedroom + den, 4 bathroom home sits on 2.36 acres of fenced and gated land. The grounds are home to over 250 palm tress including over 100 income producing Medjool date palms, 3 horse corrals, a training ring and a horse wash station. From the grounds, you’ll be awed by the stunning views of Mt San Jacinto and both the Santa Rosa and San Bernardino Mountains. Once inside the front door, a spacious living and dining room with a high 16-18 ft soaring ceiling awaits. Off of this room is the chef’s kitchen, with custom cabinetry, stone counters, stainless steel appliances, a large island with breakfast bar and very large walk-in pantry with water and an electrical outlet for a second fridge. Adjacent to the kitchen is the spacious family room with a gas fireplace. The primary bedroom suite includes a spacious en-suite bathroom and large walk-in closet. The home offers 3 additional bedrooms and 3 additional bathrooms. At the back of the house, you’ll find a wide west facing shaded patio running the entire length of the home, as well as plenty of room for a pool/spa and even a casita or other building. Features of the home include Venetian plaster walls, custom cabinetry, tile floors laid in a Versailles pattern in the main living areas, ceiling fans with lights in every room and many more amenities. The home includes an oversize three car attached garage, with plenty of space for storage. Secluded and just down the street from the Coachella Valley Preserve and Thousand Palms Canyon, yet only three miles from Interstate 10, Costco, Agua Caliente Casino Resort Spa and the Monterey Marketplace and Desert Gateway Shopping Centers, with Walmart & Sam's Club, Home Depot, Kohl’s, PetSmart, Clark's Nutrition & Natural Food Market & many other shops and restaurants. Truly a beautiful and enchanting private desert retreat. 

Features Of This Home At A Glance:

  •         Unique Private Desert Oasis Retreat
  •         Over 100 Income Producing Medjool Date Palms
  •         2.36 Fenced & Gated Acres
  •         3 Horse Corrals, Training Ring & Horse Wash Station
  •         Custom Built 3,610 Sq Ft, 4 Bedroom + Den, 4 Bathroom Home
  •         Soaring 16-18 Ft Ceilings In Great Room
  •         Chisel Edge Tile Laid In A Versaille Pattern In Main Living Areas
  •         Venetian Plaster Interior Walls
  •         Oversized 2,500 Gallon Septic Tank System
  •         Extra Deep 500 Ft Water Well
  •         Home Elevated 5-6 Ft For Flash Flood Protection
  •         Stunning Views Of Mt. San Jacinto & Both The Santa Rosa & San Bernardino Mountains
  •         Close to the Coachella Valley Preserve and Thousand Palms Canyon
  •         Sweeping Covered & Paved West Facing Back Patio Extending The Entire Length Of The Home
  •         Oversized Insulated & Drywalled Triple Car Garage
  •         Energy Efficient Tankless Hot Water Heater
  •         Imperial Irrigation District (IID) for Reduced Power Costs

MLS# 219067314 | Listed at $1,450,000 | Details, photos, floor plan & both virtual & video tour: http://www.31453chimayord.com

CalDRE 01898254 | 01896117 | Broker CalDRE 01991628

Posted in Our Listings
Dec. 1, 2021

December 2021 Coachella Valley Calendar of Events

Looking for some fun things to do in December, then check out our December Calendar of Events, courtesy of our colleagues Catherine, Kathleen and Dawn at First America Title:

Holiday 'WildLights' | Nov. 23-Dec. 30 from 6-9pm | The Living Desert Zoo & Gardens, Palm Desert

WildLights is celebrating 29 years dazzling guests by transforming the Zoo into a sparkling winter wonderland. Come to this festive, annual tradition and marvel at more than a million colorful, sparkling holiday lights. Guests will encounter a herd of life-size, luminescent animal lanterns, explore newly added pathways and stroll through the popular tunnel of lights flashing to holiday music. G-scale model trains with more than 3,300 feet of track will be decked out for the holidays. For more information: 760-346-5694 | www.livingdesert.org

Merry Movie Nights | Nov. 27, Dec. 4, 11, 18 at 5pm | The Gardens on El Paseo, Palm Desert

A once-a-week outdoor cinema experience with the goal of refocusing and reengaging Coachella Valley residents. Join us on the Center Lawn in front of Saks Fifth Avenue for family holiday films + the sights of snowfall. Bring your own blankets and dress warm! Movies will begin at dusk (5pm) and are the perfect chance to relax, connect and enjoy family and friends. For more information: 760-862-1990 | www.thegardensonelpaseo.com

Palm Springs Holiday Tree Lighting | Dec. 3 from 4:30-5:45pm | Frances Stevens Park

Featuring community tree lighters Mariah Hanson, founder of Dinah Shore Weeeknd and Linda Barrack, CEO of Martha's Village and Kitchen, along with Santa Claus and the Palm Springs City Council. The festivities kick off at 4:30pm in the park on the corner of Palm Canyon Drive and Alejo Road, and will feature free cookies and hot cocoa, traditional holiday caroling, children’s craft activities followed by a visit from Santa Claus of course! Then it’s time for the lighting of the city’s magnificent 22-foot “green” Holiday Tree adorned in thousands of energy efficient lights. It all takes place at 5:15pm sharp! For more information: 760-323-+8299 | www.palmspringsca.gov

Palm Desert Tree Lighting Ceremony | Dec. 3 from 5-7pm | The Shops On El Paseo, Palm Desert

The holiday season is official once the golden lights of the Christmas tree are twinkling again above El Paseo. Join the merriment at the annual The Shops on El Paseo tree lighting ceremony where carolers’ voices will fill the air and yummy treats galore will tempt with seasonal flavors. Photo opportunities abound between a larger-than-life snow globe and Santa and Mrs. Claus on hand to wish everyone glad tidings. The event also kicks off The Shops on El Paseo Toy Drive, which goes through the end of December. For more information:  760-341-4058 | www.theshopsonelpaseo.com

El Paseo Cruise Night | Dec. 3 from 2-5pm | The Gardens on El Paseo

The cool, shiny, lovingly cared-for cars begin arriving around 2 p.m. at the upper level of the parking structure behind The Gardens on El Paseo. Get a look at these beauties and talk to the owners before the cruise, or find a corner on El Paseo to watch the passing parade when they start cruising around 4:30pm. For more information: www.elpaseocatalogue.com

La Quinta Tree-Lighting Ceremony | Dec. 3 from 6-8pm | Civic Center Campus

Everyone is invited to celebrate the holiday season in La Quinta’s very own winter wonderland. Join us at Civic Center Park for some holiday cheer! For more information: 760-777-7000 | https://www.laquintaca.gov/Home/Components/Calendar/Event/14810/

First Friday Art Walk on Perez | Dec. 3 from 5-8pm | Perez Plaza, Cathedral City

Looking for an opportunity to walk and view some amazing art at the same time? Then come wearing your face mask and social distance at the First Fridays Art Walk on Perez Road. For more information: www.cadesertarts.org

Palm Springs Festival Of Lights Parade | Dec. 4 at 5:45pm | Palm Canyon Drive

"Over the years, the Palm Springs Festival of Lights Parade has become a beloved holiday tradition in downtown - bringing thousands of Coachella Valley residents and their families as well as tourists from all over the world to come see the twinkling floats while celebrating the joy of the holiday season,” says Mary Jo Ginther, Director of the Palm Springs Bureau of Tourism “There’s no other special event in the Coachella Valley quite like it!” For more information: 760-323-8276 | www.psfestivaloflights.com

Indio International Tamale Festival | Dec. 4-5 from 10am-7pm | Downtown Indio

Visitors delight in scrumptious tamales, endless alternative food options, shopping, and all-day entertainment. Festival fans like to relax while enjoying a variety of live entertainment including live music from local and regional bands, traditional Folklorico dancing, vintage car show, and a community parade. Admission is free. For more information: 760-391-4000 | https://www.indiotamalefestival.com/

Ironman 70.3 Indian Wells-La Quinta | Dec. 5 from 7am-4:30pm | Indian Wells Tennis Garden

Join the triathletes or cheer them on as they race through a course that includes a swim at Lake Cahuilla, a bike race through La Quinta and a half-marathon beginning and ending at the Indian Wells Tennis Garden, all totaling 70.3 miles. For more information: www.ironman.com/im703-indian-wells

Margaritaville USA Pickleball National Championships | Dec. 6-14 | Indian Wells Tennis Garden

Coupled with the incredible on-court action, attendees can expect to find amenities including a wide selection of the latest pickleball paddles, apparel and gear from a variety of vendors at Retail Village. Delicious food and concessions will also be available, with a myriad of dining options sure to satisfy every type of hungry pickleball enthusiast. For more information: www.usapickleballnationalchampionships.com

North Pole Village & Mayor's Tree Lighting | Dec. 8 from 5-7pm | Cathedral City Civic Center Plaza

The annual event includes a lit Hollywood-style movie set themed as Main Street at Santa’s North Pole. Snow-Fest captures all the holiday spirit and places it at one event with holiday music and carolers, Santa Claus, holiday tree lighting ceremony, candy canes, bike giveaways for kids, and a free movie at the Mary Pickford Theatre. Free admission and free parking. The 'North Pole Village' features nearly 20 store fronts painted as if they came right out of a children’s book. It will remain as a static display all the way through the beginning of the New Year and ending on January 9. For more information: 760-770-0396 | www.discovercathedralcity.com

Desert Air - Music & Dance Festival Under the Sky | Dec. 10-11 from 4pm-12am | Palm Springs Air Museum

Desert Air debuts a dance weekend getaway under the desert sky – hosting two intimate days of world-class underground dance music amongst the historic aircraft. No parking is available at the venue - a shuttle pass is highly encouraged for the best and easiest way to get to and from the Air Museum. Proof of full vaccination is required for entry. For more information: 888-833-1031 | www.desertairfest.com

Desert Hot Springs Parade of Lights & Holiday Festival | Dec. 11 from 5:45-10pm | DHS City Hall: Palm Drive

This year’s theme will be Storybook Christmas. Free Cotton Candy, Free Carnival Rides, Free Pictures with Santa, Food Vendors, Live music performance by HindSite. For more information: 760-329-6411 | https://www.cityofdhs.org/event/parade-of-lights-holiday-festival/

Becky Baker Memorial 5K | Dec. 11 from 8-10am | 81-750 Ave 46, Indio

Honor a Beloved Teacher, Coach, and Friend at the fastest 5K in the Coachella Valley! Proceeds will support Rajahs Cross Country and Track programs to contribute to improving training facilities and equipment. Free Events and Activities: 100 meter dash ages 5 and under, 400 meter run ages 6-9, Memorial and Awards Ceremony, After Party Food booths and DJ. For more information: www.runsignup.com/Race/CA/Indio/BeckyBakerMemorial5K

Art on Main Street | Dec. 11 from 10am-4pm | Old Town La Quinta

Art on Main Street features over 100 artists each season showing and selling their paintings, jewelry, mixed media, photography, ceramics, glass, woodwork, textiles, sculptures and more. The shows are a local favorite and an Old Town tradition. They are set amidst Main Street’s charming cafes and boutiques. For more information: 760-600-0758 | www.oldtownlaquinta.com

Indio Holiday Craft Fair | Dec. 11 from 9am-12pm | Indio Community Center Park

Come on down to our Holiday Craft Fair. This is a great way to celebrate the holidays by making a handmade gift for one of your loved ones. This event will take place outdoors and will have various craft stations. Each participant will have the opportunity to make 4 crafts total. Space is limited and registration is required. For more information: https://www.activekids.com/indio-ca/classes/holiday-craft-fair-2021

Zero Prostrate Run/Walk | Dec. 12 at 7am / Palm Desert Civic Center Park

A live, in-person event, with a virtual option available. Participating in either event helps raise both awareness and funds for the cause, and provides direct support for patients and families affected by prostate cancer. For more information: https://support.zerocancer.org/

Santa Paws 5K | Dec. 18 at 9am | Temple Isaiah, Palm Springs

Palm Springs Marathon Runners and the Greater Palm Springs Lions Club welcome you to the Santa Paws 5K benefiting Guide Dogs of the Desert. Join one of the biggest gatherings of Santa in the world as you don your 5 piece Santa Suit (included with registration) and spread your Ho! Ho! Ho! over this beautiful 5K course. This is a runner, walker, stroller and doggie-friendly event. Price: $15 and up. For more information: https://www.active.com/palm-springs-ca/running/distance-running-races/santa-paws-5k-and-lil-elf-dash-2021?int=

Santa Fly-In and Winter Light Show | Dec. 18-22 from 6-8pm | Palm Springs Air Museum

Ho, Ho, Ho and Away we go... Each evening Santa Claus will arrive at the Air Museum in his helicopter to greet all the good little girls and boys who have come to see him. In addition to sitting for photographs and having a special gift for each child, Santa will open the museum to reveal a Christmas light spectacular for children young and old to enjoy. For more information: 760-778-6262 | www.palmspringsairmuseum.org

Palm Springs VillageFest Every Thursday from 7-10pm | Palm Canyon Dr between Baristo & Amado Roads

Every Thursday evening in downtown Palm Springs, enjoy a diverse array of artists, artisans, entertainers, assorted fruits, vegetables, fresh flowers, jewelry, international cuisine, and don't forget the sweets. For more information: 760-320-3781 | http://villagefest.org/

Please note: Events are subject to cancellation or changes in date and times. Please confirm with event organizers first.

 

CalDRE# 01898254 | 01896117 | 01991628

Nov. 28, 2021

Just Listed: Updated Spacious 5 Bedroom Central La Quinta Pool Home

 

Space galore in this 5 bedroom + bonus room, 5 bathroom home in the very desirable La Quinta Del Oro area of central La Quinta. This freshly painted home features plantation shutters on almost all windows and refaced kitchen cabinets with quartz kitchen counters. In addition to the many generous sized rooms, there is loads of storage. The 3rd car garage has been converted (but may easily be changed back) to a bonus air-conditioned work / hobby room. Off the formal Dining Room and overlooking the side yard, there is a windowed air-conditioned sunroom, complete with professional grade overhead patio heaters. The south facing backyard also has a charming fountain, pebble finish pool & spa and several citrus trees. Out back there is a covered patio with professional grade misters and a large screened in porch with fans opening to Family Room & Primary Bedroom. Upstairs there is a very large bonus room complete with kitchenette / wet bar and 85'' inch flat screen television, 2 bedrooms, a full bathroom and a powder room. Perfect home with good separation for multigenerational, blended or shared living options.  No HOA fees and being in the Imperial Irrigation District (IID), low electric bills.  Just a short stroll to the Indian Wells Tennis Garden, home of the world-famous BNP Paribas Tennis Tournament and minutes to dining, shopping, galleries, events and award winning schools, with easy access to the I-10 freeway.

Features Of This Home At A Glance:

  •        Great Central La Quinta Location Near The Indian Wells Tennis Garden
  •        3,400 Sq Ft, 5 Bedrooms, 5 Bathrooms
  •        Move-In Ready With Fresh Paint & Refaced Kitchen Cabinets With Quartz Counters
  •        Plantation Shutters & Ceiling Fans In Most Rooms 
  •        Large 10,454 Sq Ft Lot With Pool & Spa In The South Facing Back Yard
  •        Backyard Mountain Views
  •        Two Sunrooms - One Glassed In & Both Heated & Air Conditioned, The Other Screened   

MLS# 219070793 | Listed at $699,000 | Details, photos, virtual tour & floor plan at: http://www.78355viacaliente.com

 

 

CalDRE# 01896117 | 01898254 | 01991628 

Posted in Our Listings
Nov. 27, 2021

Just Listed: Remodeled & Turnkey Furnished Indian Palms Country Club Condo With Greenbelt, Pond & Mountain Views

Views galore! Check out this fantastic opportunity to buy a completely remodeled and turnkey furnished home. Open concept with vaulted ceilings, tile and wood plank-look tile flooring, plantation shutters and designer touches throughout. The kitchen features slab granite counters, newer cabinets and appliances and a new lead glass door leading onto the private gated front courtyard. Perfect for entertaining with easy transition from the front to back patios (the front patio with a fresh flagstone-look finish). The west facing rear patio overlooks a greenbelt and tranquility pond with a stunning mountain backdrop. From the roof down to the ground, this unit has been almost completely remodeled & well maintained. Also close to the nearby community pool. Located in the heart of gated Indian Palms Country Club...which is a stone's throw away from the Empire Polo Grounds (home of the Coachella and Stagecoach music festivals) and also close to biking, golf, dining and shopping. Indian Palms is the home of a 27 hole golf course and clubhouse. Very reasonable memberships also available to the Community Lifestyle Centre with a full fitness center, tennis and pickleball courts. Such a great home for full-time or part-time living.  

Features Of This Home At A Glance:  

  •         Located Behind The Guarded Gates Of Indian Palms Country Club
  •         Completely Remodeled & Turnkey Furnished
  •         982 Sq Ft, 2 Bedrooms, 2 Bathrooms
  •         Open Floor Plan With Vaulted Ceilings
  •         Tile Floors, Ceiling Fans & Plantation Shutters Throughout
  •         Warm Kitchen With Newer Cabinets, Appliances & Slab Granite Counters
  •         Private Gated Front & Rear Patios
  •         Stunning Greenbelt, Pond & Mountain Views

MLS# 219070761 | Listed at $329, 900 | Details, photos, virtual tour & floor plan at: http://www.49027eisenhower.com

CalDRE# 01896117 | 01898254 | 01991628

Posted in Our Listings
Nov. 11, 2021

La Quinta Art Celebration 2021 Runs From November 11th to 14th At The La Quinta Civic Park

 

Looking for a fun event this coming weekend? The La Quinta Art Celebration combines a stunning Coachella Valley venue, enthusiastic patrons, best in class artists, unsurpassed community support and event staff who are committed to providing a VIP artist experience. Come see the work of 200 premier artists from 32 states and five countries, 12 categories of art, Champagne Bars, a gourmet food court, a Margarita Island, a Ketel One Vodka Bar, Winery Row and live entertainment.

Sound like something you’d like to do? For more information, please visit: https://www.laquintaartcelebration.org/

CalDRE# 01898254 | 01896117 | 01991628

  

Nov. 11, 2021

Remembrance Day | Veterans Day 2021

Lest we forget...commemorating the sacrifices of members of the armed forces and of civilians in times of war.

 

CalDRE 01898254 | 01896117 | 01991628

Nov. 11, 2021

Veterans Day | Remembrance Day 2021

Thank you for your time, bravery, and sacrifice for this country. We are forever grateful for what you've done to maintain our nation's freedom. Thank you for your sacrifice, your bravery, and the example you set for us all.

CalDRE 01898254 | 01896117 | 01991628

Nov. 9, 2021

The America Express PGA Golf Tournament Tickets On Sale

The Desert Sun’s Larry Bohannan writes that The American Express PGA Golf Tournament returns to La Quinta from Jan. 19th – 23rd, 2022. Unlike last year’s event, tournament officials plan to have fans on all three courses used for the tournament this year and well as a return to pro-am play during the first three days of the tournament. Organizers also are planning on the return of concerts to the event on Friday Jan. 21 and Saturday Jan. 22 on the driving range at PGA West (with the artists performing to be announced).

Protocols for the Tournament require attendees to provide proof of full COVID-19 vaccination or proof of a negative COVID-19 test taken within 72 hours of entry at any of the three tournament courses, PGA West’s Stadium Course and Jack Nicklaus Tournament Course or La Quinta Country Club.

Ticket Details: For 2022, The American Express tournament will feature two types of tickets, general admission and Champions Club tickets. Champions Club tickets provide upgraded, premium hospitality along the 18th fairway and green of the Stadium Course (the tournament host course), a hosted breakfast, lunch, snack and full bar as well as preferred parking and access to upgraded concert viewing section for Friday/Saturday ticketholders. In addition, American Express card members receive a 20% discount on all online ticket orders, along with on-site tournament merchandise and concessions. General admission tickets are $35 Wednesday, $65 Thursday, $125 Friday or Saturday, including concert admission, and $65 Sunday. A three-day ticket for Wednesday, Thursday and Sunday is $85. Champions Club tickets are $200 Thursday, $350 Friday or Saturday, and $200 on Sunday.

Parking: General spectator parking is along Jefferson Street between Avenue 52 and Avenue 54 (adjacent to the SilverRock Resort) with free shuttle service to PGA West and La Quinta Country Club. Daily parking passes are available online for $20, while weekly parking passes (good through Jan. 19-23) are available for $50.

For more information and tickets, please visit: www.theamexgolf.com

To read Larry Bohannan’s original article, courtesy of The Desert Sun, please visit: https://www.desertsun.com/story/sports/golf/2021/11/08/american-express-tickets-sale-proof-vaccination-negative-test-required/6342244001/

CalDRE# 01898254 | 01896117 | 01991628

Nov. 6, 2021

October 2021 Coachella Valley Residential Real Estate Market Update

Our local real estate market experts, Market Watch LLC, through the sponsorship and cooperation of both the Greater Palm Springs Realtors® and the California Desert Association of Realtors® have just released their October 2021 Desert Housing Report. Some highlights:

Coachella Valley Detached Home Median Price: In October, the median price of a detached home in the Coachella Valley was $600,000 (up 13.7% from $527,500 in October 2020). Market Watch stated that it appears that year-over-year price increases are moderating. However, because our real estate market is entering its historically normal period of price strength, they expect any moderation to be minimal.

Coachella Valley Attached Home Median Price: In October, the median price of an attached home in the Coachella Valley was $370,000 (up 19.4% from $310,000 in October 2020). Market Watch noted that because of their lower price points, attached homes are continuing to help fill the low supply levels homebuyers are finding for lower price detached homes. They also noted that even though the effect has been smaller this year than normal, the attached home median price has experienced the historically normal seasonal price softening that occurs through late summer.

12 Month Change in The Price of The Average Size Home: In this new metric, the first numerical column in the accompanying chart is the size of the average home in the corresponding Coachella Valley city; it’s always the same. The second column is the median price per square foot of home sales that month. The third column is the price of the average size home (i.e., the product of the two columns). Cities are then ranked by the 12-month percentage change in the price of the average size home. For detached homes, the price of the average size home increased year-over-year by more than 26% in every Coachella Valley city. At the head of the pack, the year-over-year change in the price of the average size detached home was +43.2% in Bermuda Dunes and +40.1% in Rancho Mirage. For attached homes, the price of the average size attached home increased year-over-year by more than 21% in every Coachella Valley city. Leading the pack, the year-over-year change in the price of the average size attached home was +67.6% in Desert Hot Springs and +37.4% in Bermuda Dunes.

Monthly Home Sales (3-Month Trailing Average): Total home sales over the last three months averaged 806 homes per month. While this is less than the average 1,120 homes per month sold in October 2020, it is still roughly 10% above the pre-pandemic October total home sales average of 730 homes per month. Market Watch felt that home sales continued to contract in October due to the lack of housing inventory.

Monthly Sales (12-Month Trailing Average): The 12-month average of sales (which removes all of the seasonality from the home sales data) in October showed total sales averaged 1,050 homes per month (up 24% year-over-year from 844 homes sale per month in October 2020). Market Watch felt that this data showed that home sales in October were beginning to retreat after last year’s surge, especially in the case of detached homes. They predicted that long term home sales averages will continue to decline, but should stay above pre-pandemic norms.

Home Sales by City: Market Watch pointed out the overall sales slowdown since last year’s surge. The only cities with higher homes sales year-over-year were Coachella and Desert Hot Springs. Home sales declined year-over-year by 52.2% in Indian Wells, 41.4% in Rancho Mirage, 27.4% Palm Desert and 27% in Palm Springs. Market Watch attributed this decline in home sales primarily to the lack of housing inventory.

Home Sales By Price Range:  Market Watch noted that sales of homes priced over $700,000 appeared to be at roughly the same level as one year ago. Sales of homes priced in the $300,000 to $400,000 price range decreased by 43.3% year-over-year, sales of homes priced in the $200,000 to $300,000 price range decreased by 58.6% year-over-year and sales of homes priced under $200,000 decreased by 57.4% year-over-year. Market Watch attributed this decrease in sales in these lower price ranges to the lack of housing inventory in them.  

Coachella Valley Total Inventory: On November 1st, the total home sale inventory in the Coachella Valley was 915 homes (compared to 883 homes on October 1st and down 54.6% from 2,014 homes for sale on November 1st, 2020). Market Watch believes that this ongoing lack of inventory is the driving force lifting home prices higher. They expressed an interest in seeing if our historically normal pattern of inventory reaching peak levels around March will continue in 2022.

Regional Months of Sales Ratio: The months of sales ratio throughout the Coachella Valley on November 1st was 9/10ths of a month (one tenth of a month higher than last month but still far below the 2.4 months on November 1st , 2020). Market Watch opined that these very low months of sales ratios continue to make this a powerful seller’s market. Further, they believe that there is little price risk since demand continues to far outstrip supply, even after the strong price gains of the last year.

Months of Sales by Price Range: Market Watch felt that this data shows that the historically low months of sales ratios in the Coachella Valley continues in all price brackets, but the greatest decreases in months of sales ratios occurred in the price ranges over $800,000.

Months of Sales by City: All of the cities in the Coachella Valley, with the exception of Desert Hot Springs and Thousand Palms, had months of sales ratios on November 1st significantly below their ratios on November 1st, 2020. La Quinta, Palm Desert and Coachella had months of sales ratios of 0.7 months and with 8 of the 11 Coachella Valley cities surveyed having months of sale ratios of 1 month or under.

Regional Days in the Market: At the end of October, the median value of days in the market throughout the Coachella Valley was at a record low 24 days (compared to 49 days one year ago). Market Watch noted that as demand has continued to exceed supply, the average time to sell a home in the Coachella Valley has continued to fall. They are expecting the median days in the market to remain near current levels for a while. They pointed out that days in the market is not a predictive indicator but results from the current condition of homebuyer demand far exceeding homeowner supply

Days in the Market: These bar charts rank the cities in the Coachella Valley left to right starting with the least number of days in the market for both detached and attached homes. In October, the city of Coachella had the lowest number of days in the market for detached homes at 12 days, followed by Cathedral City at 21 days. In the attached home market, Desert Hot Springs and Cathedral City had the lowest number of days at 11 and 14 days respectively in October.

Regional Price Discount: The median value for sale discount from list for detached homes in October was again 0.0% (the same as it’s been or the last eight months). One year ago, it was -1.0%. Market Watch noted that since so many detached homes are selling right at list price, the median value of all sales is exactly 0.0%. However, when they calculate the average discount for detached homes (which includes the discount or premium of every detached home sale), it revealed that the average discount was +1.1%, meaning that the average home is now selling 1.1% above list price.

Average Price Discounts: These bar charts show the average price discount for both detached and attached homes in the Coachella Valley’s major cities.  In Bermuda Dunes, the average detached home in October was selling at the highest premium of 2.0% over list, followed by Indio with an average premium of 1.8% over list. In the attached home market, the average attached home in Indio in October was selling with an average premium of 3.0% over list, followed by Palm Springs with an average premium of 2.3% over list.

CalDRE# 01898254 | 01896117 | 01991628

Posted in Market Updates