Hot Desert Real Estate Information & Community News

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

 

May 21, 2024

New Listing: Quiet Pristine Palm Desert Whitehawk Cul-De-Sac Pool Home

Relax and enjoy the winter indoor/outdoor living the Desert is famous for in this beautiful Bayberry model located on a quiet cul-de-sac in the gated Whitehawk community in Palm Desert. Perfect as a family home or winter/weekend getaway vacation home. Inside, the home features two separate living areas; a large family room with gas fireplace and access to the back yard through double sliding glass patio doors and separate living/dining room at the front of the house. These rooms have high vaulted ceilings, creating a spacious look and feel. The large remodeled kitchen is equipped with a double oven, gas cooktop with built in microwave/exhaust fan above it and a large center island, with a large adjoining breakfast nook. You'll find great separation between the 3 bedrooms and the main living areas. The spacious master bedroom suite includes a wonderful bay window sitting area, 2 large walk-in closets, an en-suite bathroom and access to the back yard through a sliding glass patio door. In the back yard, you'll find a large covered patio and an generously-sized swimming pool and spa. High efficiency superior Lennox HVAC.In the front of the home, there is an attached 3 car garage with plenty of storage. Whitehawk has a private community park, direct access to Woodhaven Country Club through a golf cart gate and is located across Country Club Drive from Palm Desert's Freedom Park with volleyball, basketball, tennis, pickleball, a skateboard park and much more. 

MLS# 219111149 | Listed at $ 735,000 | For more details, photos, floor plan & a virtual tour, please visit: http://viewlisting.info/121391 

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs – DRE 01896117 | Tim Briggs – DRE 0898254 | Coldwell Banker – DRE 00616212

Posted in Our Listings
May 16, 2024

Just Listed: Stylishly Updated, Turnkey Furnished Indian Palms Country Club Golf Course Home

Stylishly updated, turnkey furnished home with lovely golf course views. Situated in guard-gated Indian Palm Country Club, this open floor plan home exudes casual comfort. Once inside the glass inlaid double door entry, the foyer and main living areas have oversized diagonal tile floors, with rich laminate in the bedrooms for easy cleaning. Plenty of counter space and newer stainless steel appliances and gas range make for easy entertaining. The spacious great room with fireplace and adjoining kitchen opens onto the patio with views of the 4th hole of the Mountain Course, accentuated by transom windows. Direct access from the living room and primary bedroom to a roomy above ground hot tub in a private courtyard. The third bedroom also has a sitting area / office that could also be used as an overflow sleeping area. Outside the back patio has one portion of the patio fully covered with sun shades and the other with a partial easy maintenance aluma-wood type cover; perfect for all weather. This space has endless possibilities. Indian Palms offers 27 holes of golf. The course and clubhouse is open to the public. Reasonable membership options are available at the Lifestyle Center, which includes a large pool, gym, bocce ball, tennis and pickleball. Indian Palms also has a boutique hotel and is also located close to the Polo grounds, which hosts the popular Coachella and Stagecoach festivals. This particular HOA allows short term rentals too!

Features Of This Home At A Glance:

  • Indian Palms Country Club Golf Course Home
  • 1,833 Sq Ft | 3 Bedrooms | 2 Bathrooms
  • Overlooks 4th Fairway Of The Indian Palms CC Mountain Course
  • Newer Premium Stainless Steel Kitchen Appliances
  • Open Floor Plan With Back & Side Yard Patios
  • old Turnkey Furnished – Just Bring Your Toothbrush
  • HOA Dues Include Membership To The Indian Palms CC Lifestyle Center
  • Short Term Rentals Allowed 

MLS# 2191114371 | Listed at $525,000 | Details, photos, virtual tour & floor plan at: http://viewlisting.info/121393 

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs DRE 01896117 | Tim Briggs DRE 01898254 | Coldwell Banker DRE 00616212

Posted in Our Listings
May 11, 2024

April 2024 Coachella Valley Residential Real Estate Market Update

Our local real estate market experts, Market Watch LLC, have just released their April 2024 Desert Housing Report. Some highlights:

COACHELLA VALLEY APRIL HOME SALES RECOVERY: Coachella Valley home sales in April were 19.8% below normal (where normal was calculated from April Coachella valley home sales in the pre-pandemic years 2016, 2017, 20-18 and 2019). Market Watch noted that this home sales recovery measure was another improvement from March. Further, they stated that they hope to see Coachella Valley home sales return to normal levels by the end of the year.

COACHELLA VALLEY APRIL DETACHED HOME MEDIAN PRICE: The median price of a detached home in the Coachella Valley in April reached an all-time record high of $724,523 (up 6.6% from $679,900 in April 2023). Market Watch noted that Coachella Valley detached home median prices usually peak in May or June due to seasonal patterns. While Market Watch believes that pattern will occur this year, they also believe that with inventory rising and sales growing at a slower rate, supply and demand will soon begin to favor buyers.

COACHELLA VALLEY APRIL ATTACHED HOME MEDIAN PRICE: The median price of an attached home in the Coachella Valley in April was $500,000 (up 4.2% from $480,000 in April 2023). Market Watch noted that since attached home median prices seem to be following the normal seasonal pattern, they expected them to continue to increase for one or two more months.

COACHELLA VALLEY APRIL TWELVE MONTH CHANGE IN THE PRICE OF AVERAGE SIZE HOMES BY CITY: Year-over-year changes in the price of the average size detached home by city ranged from an increase of 18.2% for the average size 3,450 sq ft detached home in Indian Wells to a decrease of 4.2% for the average size 1,600 sq ft detached home in Desert Hot Springs. Year-over-year changes in the price of the average size attached home by city ranged from an increase of 7.6% for the average size 1,050 sq ft attached home in Indio to a decrease of 11.4% for the average size 1,950 sq ft attached home in Indian Wells.

COACHELLA VALLEY APRIL MONTHLY HOME SALES (THREE MONTH AVERAGE): In April, the three-month average of Coachella Valley home sales was 716 homes sales per month (up slightly from 704 homes sales per month in April 2023). Market Watch noted that because of seasonality, it was difficult to determine where home sales stood on a historical basis. However, they pointed out that the Sales Recovery data shows that while home sales improved, they were still 19.8% below historic norms (calculated from April home sales in the years 2016-2019).

COACHELLA VALLEY APRIL MONTHLY HOME SALES (TWELVE MONTH AVERAGE): In April, the 12-month average of Coachella Valley home sales was 624 homes per month (down slightly from 628 homes sales per month in April 2023). Market Watch stated that they believe home sales will recover when mortgage rates come back down to the 5.5% to 6% range, with recent declines in inflation giving them hope that this is not too far away.

COACHELLA VALLEY APRIL HOMES SALES BY CITY: In April, Palm Desert had the highest average home sales at 160 home sales per month (compared with an average of 176 home sales per month in April 2023), followed by Palm Springs with 157 average home sales per month (compared with an average of 138 home sales per month in April 2023). Average home sales were higher than last year in Palm Springs (again, with an average of 157 home sales per month compared with 138 home sales per month in April 2023) and Indian Wells (with an average of 35 home sales per month compared with 23 home sales per month in April 2023). Home sales in most of the other Coachella Valley cities were comparable to April 2023 levels.

COACHELLA VALLEY APRIL HOMES SALES BY PRICE RANGE: The largest year-over-year home sales increases were in homes priced over $1 million. For homes priced between $1 million and $1.999 million, monthly average homes sales were 137 home sales per month (up 21.2% from 113 home sales per month in April 2023). For homes priced at or above $2 million, monthly average homes sales were 51 home sales per month (up 15.9% from 44 home sales per month in April 2023). Home sales in most price ranges (other than homes priced under $400,000) were comparable to April 2023. Market Watch commented that this showed that the housing market was well balanced in most price ranges.

COACHELLA VALLEY APRIL MONTHLY HOMES SALES IN DOLLARS: In April, Coachella Valley home sales averaged $669 million (up 10.8% from monthly sales of $604 million in April 2023). Market Watch noted that the monthly home sales by dollar showed the same seasonal pattern as monthly home sales but with different relative highs and lows due to home price changes over time.

COACHELLA VALLEY APRIL MONTHLY HOMES SALES IN DOLLARS BY CITY: Monthly average homes sales in dollars increased in Palm Springs (at $161.8 million up 29.3% from $125.1 million in April 2023), Rancho Mirage (at $88.5 million up 9.1% from $81.1 million in April 2023), Indian Wells (at $60.6 million up 65.6% from $36.6 million in April 20232) and Bermuda Dunes (at $8 million up 14.3% from $7 million in April 2023). Market Watch pointed out that home sales in dollars in Rancho Mirage and Indian Wells, rank higher than their unit sales because of the effect of their higher priced homes. Since revenue depends more on dollar sales than unit sales, Market Watch stated that this data is a better proxy for revenue than unit sales.

COACHELLA VALLEY APRIL MONTHLY HOME SALES IN DOLLARS BY PRICE RANGE: Monthly average home sales by price bracket showed monthly home sales of $189.1 million for homes priced between $1 million and $1.999 million (up 21.1% from $156.1 million in April 2023). Monthly home sales of homes priced over $2 million were $183 million in April (up 16.5% from $157.1 million in April 2023). Market Watch noted that these large dollar sales numbers were more accentuated than the unit sales for these same price ranges. They pointed out that monthly home sales in dollars in these two brackets in April accounted for approximately 50% of all monthly home sales in dollars in the Coachella Valley.

COACHELLA VALLEY HOME SALE INVENTORY ON MAY 1ST: On May 1 st, Coachella Valley home sale inventory was 2,597 units (up 696 homes or 36.6% from 1,901 homes on May 1st 2023 and the highest inventory level in almost four years). However, Market Watch noted that while inventory has improved, this current level was about 1,000 units under what was normal before the pandemic. Further they felt that some of this inventory increase was seasonal, but the same seasonal pattern now suggests the current inventory level may be at or near the high for 2024, since inventory usually declines between March and September.

COACHELLA VALLEY HOME SALE INVENTORY BY CITY ON MAY 1ST: On May 1st, the highest inventory levels were in Palm Springs with an inventory of 630 homes (up 188 homes or 42.5% from 442 homes on May 1st, 2023), Palm Desert with an inventory of 539 homes (up 128 homes or 31.1% from 411 homes on May 1st, 2023 and La Quinta with an inventory of 364 homes (up 82 homes or 29.1% from 282 homes on May 1st, 2023). Market Watch did note that this data helps to show where the homeowners with the greatest selling interest are and how their interest compares to last year.

COACHELLA VALLEY HOME SALE INVENTORY BY PRICE RANGE ON MAY 1ST: The highest inventory level was for homes priced over $1 million. For homes priced between $1 million and $1.999 million, there was an inventory of 472 homes on May 1st (up 111 homes or 30.8% from 361 homes on May 1st, 2023). For homes priced at $2 million or above, there was an inventory of 269 homes on May 1st (up 59 homes or 28.1% from 210 homes on May 1st, 2023). Market Watch noted that this data helps determine what price brackets might be responsible for the growth or contraction of inventory.

COACHELLA VALLEY REGIONAL MONTHS OF SALES RATIO ON MAY 1ST: On May 1st, the Coachella Valley’s months of sales ratio was 4.2 months (up 1.2 months or 40% from 3 months on May 1st, 2023). Market Watch noted that this fundamental ratio, which measures supply and demand, is now back to pre-pandemic levels. They pointed out that even though inventory is still relatively low, the low sales numbers have kept supply and demand in balance, which is one major reason why Coachella Valley home prices have remained firm over the last twelve months.

COACHELLA VALLEY MONTHS OF SALES RATIO BY CITY ON MAY 1ST: Months of sales ratios varied from a low of 2.2 months in Indian Wells to 4.3 months in Indio. Market Watch noted that since months of sales is really the supply-demand equation for housing, this data shows if the housing market is balanced. They noted that most of the Coachella Valley cities had ratios between three and four months and that this consistency was a good sign.

COACHELLA VALLEY MONTHS OF SALES RATIO BY PRICE RANGE ON MAY 1ST: Months of sales ratios varied from a low of 2.7 months for homes priced between $400,000 and $499,000 to 5.3 months for homes priced at or above $2 million. Again, Market Watch noted that since months of sales is really the supply-demand equation for housing, the consistency in months of sales ratios showed that the housing market was relatively balanced in all price ranges. They did report noticing a slight increase in year over year months of sales ratios for homes priced between $600,000 and $1 million.

COACHELLA VALLEY APRIL DAYS IN THE MARKET: At the end of April, the median number of days in the market in the Coachella Valley was 44 days (up from 43 days in April 2023). Market Watch noted that the median selling time in the region has been stable for the last three months and that they believe the median selling time will remain around current levels continuing into the year.

COACHELLA VALLEY APRIL DAYS IN THE MARKET BY CITY: In April, Coachella continued to have the shortest average selling time at 27 days (down from 36 days in April 2023). This was followed by Palm Springs at 40 days (up from 39 days in April 2023) and Indian Wells at 41 days (down from 56 days in April 2023). Bermuda Dunes had the longest average selling time at 54 days (down from 60 days in April 2023).

COACHELLA VALLEY APRIL DAYS IN THE MARKET BY PRICE RANGE: In April, the shortest average selling time was 37 days for homes priced between $400,000 to $499,000 (down from 48 days in April 2023). The longest average selling time was 50 days for homes priced between $700,000 to $799,000 (down from 52 days in April 2023). Market Watch advised that an abnormal high number of days in the market could be an indicator of a slight market disruption in that price range.

COACHELLA VALLEY APRIL REGIONAL PRICE PREMIUM/DISCOUNT FROM LIST PRICE: In April, both detached and attached homes were selling at average discounts from list price over 2% (an average discount of 2.3% for detached homes and 2.6% for attached homes). Market Watch pointed out how close the average price discounts were for both detached and attached homes, with trends for the two moving up and down together. They also noted that current discounts from list price seemed in line with the pre-covid averages.

COACHELLA VALLEY APRIL DETACHED HOME AVERAGE DISCOUNTS FROM LIST PRICE BY CITY: In April, Desert Hot Springs had the lowest average selling discount for detached homes at 0.4% (down from 1.2% in April 2023), while the highest average selling discount was 3.8% in both Rancho Mirage and Bermuda Dunes (up from 3.4% in Rancho Mirage in April 2023 and 3.1% in Bermuda Dunes in April 2023).

COACHELLA VALLEY APRIL DETACHED HOME AVERAGE DISCOUNTS FROM LIST PRICE BY PRICE RANGE: In April, the lowest average selling discount was 1.6% for homes priced between $400,000 to $499,000 (down from 2.0% in April 2023). In April, the highest average selling discount was 3.8% for homes priced over $2 million (down from 4.3% in April 2023). Market Watch noted that as a general rule, the average price discount from list price increases with higher priced homes.

COACHELLA VALLEY APRIL PERCENTAGE OF HOMES SELLING OVER LIST PRICE: In April, the percent of homes selling in the Coachella Valley over list price was 14.8% (down slightly from 15.1% in April 2023). Market Watch continues to expect that the number of homes selling above list will remain at approximately one out of seven.

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Amy Baxa - DRE 02059963 | Coldwell Banker Realty - DRE# 00616212

Posted in Market Updates
May 8, 2024

COMING SOON: Quiet Pristine Palm Desert Whitehawk Cul-De-Sac Pool Home

(Please click on the image above to view our YouTube Shorts video)

Relax and enjoy the winter indoor/outdoor living the Desert is famous for in this beautiful Bayberry model located on a quiet cul-de-sac in the gated Whitehawk community in Palm Desert. Perfect as a family home or winter/weekend getaway vacation home. Inside, the home features two separate living areas; a large family room with gas fireplace and access to the back yard through double sliding glass patio doors and separate living/dining room at the front of the house. These rooms have high vaulted ceilings, creating a spacious look and feel. The large remodeled kitchen is equipped with a double oven, gas cooktop with built in microwave/exhaust fan above it and a large center island, with a large adjoining breakfast nook. You'll find great separation between the 3 bedrooms and the main living areas. The spacious master bedroom suite includes a wonderful bay window sitting area, 2 large walk-in closets, an en-suite bathroom and access to the back yard through a sliding glass patio door. In the back yard, you'll find a large covered patio and an generously-sized swimming pool and spa. High efficiency superior Lennox HVAC.In the front of the home, there is an attached 3 car garage with plenty of storage. Whitehawk has a private community park, direct access to Woodhaven Country Club through a golf cart gate and is located across Country Club Drive from Palm Desert's Freedom Park with volleyball, basketball, tennis, pickleball, a skateboard park and much more. 

MLS# 219111149 | Listed at $ 735,000 | For more details, photos, floor plan & a virtual tour, please visit: https://www.cbhometour.com/77572-Carinda-Ct-Palm-Desert-CA-92211/index.html 

THE BRIGGS GROUP | COLDWELL BANKER || Laurie Briggs – DRE 01896117 | Tim Briggs – DRE 0898254 | Amy Baxa – DRE 02059863 | Coldwell Banker – DRE 00616212

Posted in Our Listings
May 2, 2024

Mission Hills Country Club Desert Retreat | Open House May 4th & May 5th

(Please click on the image above to view our YouTube Shorts video)

Open House Sat. May 4th & Sun. May 5th from 10AM to NOON | 628 Hospitality Dr, Mission Hills Country Club, Rancho Mirage

This exquisite 3-bedroom, 3-bathroom condo is a rare find, remodeled and updated and overlooking the 8th Green of the prestigious Dinah Shore Tournament Course. Step into luxury as you enter the beautifully remodeled kitchen boasting an island, a breakfast bar, stone counters and premium stainless steel appliances. The spacious great room features a dramatic vaulted ceiling, floor to ceiling fireplace and large windows, providing plenty of light and beautiful golf course, lake and Chocolate Mountain views. Enjoy the winter indoor-outdoor living that the Desert is famous for with the large covered back patio with stunning views and front enclosed patio for more intimate lounging. With tile flooring in the main living areas, newer upgraded windows and dimmable lighting throughout, this home is a sanctuary of both style and comfort. Furnishings available for purchase outside of Escrow. Lastly, the home also includes a two car plus golf cart oversize detached garage with plenty of storage. Don't miss out on this opportunity to experience Desert living at its best! 

MLS# 219109393 | Listed at $719,000. Photos, details, virtual tour & floor plan at: http://viewlisting.info/120875

The Briggs Group | Coldwell Banker Realty || Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Amy Baxa – DRE# 02059963 | Coldwell Banker - DRE# 00616212

Posted in Our Listings
April 23, 2024

COMING SOON: Stylishly Remodeled & Updated Indian Wells Desert Retreat

COME SEE IT IN PERSON | OPEN HOUSE: Sat April 27th 10AM to Noon | 74948 Sage Dr, Colony Cove, Indian Wells

Stylishly remodeled Indian Wells home in the gated Colony Cove community. Beautiful 3 bedroom 3 bathroom open floor plan home with a large den/office completed with designer furnishings.  This 2,287 square foot home features a remodeled kitchen with newer cabinets, stone counter tops and premium stainless steel appliances, remodeled bathrooms with newer stone counter tops, fixtures and tile showers, newer laminate flooring throughout the main living areas and upgraded carpet in the bedrooms, plantation shutters and designer paint inside and out. The home features two very different outdoor living areas. The south facing front courtyard is an entertainer's delight with stunning views of the Santa Rosa Mountains, a large custom pool, spa and waterfall. In the back yard you'll find an outdoor living room with large fireplace and adjoining eating area under a wood gazebo. Wonderful opportunity to own a stylish, remodeled and updated home in prestigious Indian Wells, where you can enjoy all the benefits of being an Indian Wells resident such as steeply discounted golf at the Indian Wells Golf Resort, discounts on food and spa services at the Indian Wells resorts and hotels, free use of the Hyatt Hotel gym and more.

MLS# 219110506 | Listed at $995,000 | Details, photos, video & virtual tours & floor plan at: http://viewlisting.info/121305

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs – DRE 01896117 | Tim Briggs DRE 01898254 | Amy Baxa DRE 02059863 | Coldwell Banker DRE 00616212

Posted in Our Listings
April 23, 2024

Attention Coachella Valley Music and Arts Festival Fans: 2025 Dates Announced & Advance 2025 Pass Sale Starts May 3rd

Well the dust has just begun to settle (literally} on Coachella 2024 and the organizer, Goldenvoice, has announced that Coachella 2025 Weekend 1 will run from April 11th to April 13th, 2025 and Weekend 2 will run from April will run from April 18th to April 20th, 2025. And more importantly, the advanced pass sale will starting on Friday May 3rd. If past performance is any indicator or future performance, the line up won’t be released until January 2025. Not wanting to stir up any rumors…but does anyone think that Taylor Swift could be there as a headliner? 

For more information, please visit the official Festival website at www.coachella.com

The Briggs Group | Coldwell Banker | Laurie Briggs – DRE 01896117 | Tim Briggs – DRE 01898254 | Amy Baxa – DRE 02059863 | Coldwell Banker DRE 00616212

April 20, 2024

NEW PRICE: Palm Valley Country Club Reimagined Condo With Golf Course & Mountain Views

Panoramic views of the Chocolate Mountains from this beautifully remodeled Cottonwood plan home. Overlooking the 16th hole of the Championship Course at Palm Valley Country Club, this 3 bedroom 3 bathroom condo draws in the extra light from being a corner unit. This condo is offered partially furnished (per the inventory list). The complete remodel of the kitchen included new upgraded cabinets, slab granite countertop and tile flooring. The focal Living Room fireplace is accented by a vaulted ceiling and neutral walls. There is an uninterrupted flow of the tile floors throughout the home and out onto the extended rear patio with retractable awning. The Primary Bedroom features a private courtyard and spa-like en-suite bathroom. Additional upgrades include newer energy efficient windows. The extended tiled patio, with BBQ area creates an ideal space to enjoy unobstructed fairway views; spanning from a pond with a soothing water feature, expanding across to mountain views on the west. Situated close to the clubhouse and features everything desired for relaxed Desert living. Amenities: Clubhouse with dining options, fitness club, lap pool/spa, golf, tennis, pickleball and a vibrant social calendar. There are also 46 pools and spas located throughout the community. Short term rentals allowed! 

MLS 219108505 | Now Listed at $675,000 | Photos, details, video & virtual tours & floor plan at: http://viewlisting.info/120213

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs – DRE 01896117 | Tim Briggs- DRE 01898254 | Amy Baxa – DRE 02059963 | Coldwell Banker – DRE 00616212

Posted in Our Listings
April 20, 2024

May 2024 Coachella Valley Calendar Of Events

Looking for some fun things to see and do here in the Coachella Valley in May? Look no more, thanks to these suggestions from our fun-loving colleagues, Catherine, Dawn and Valori at First America Title: 

Rock the Park Tribute Band Series | May 1 at 7pm | Palm Springs Downtown Park

Come out to see and hear WANTED: The Ultimate Tribute to Bon Jovi. Bring your lawn chairs and blankets and enjoy live entertainment in our beautiful new downtown park. Co-Producer James Elliott Entertainment has more than 20 years of experience in the music industry. His company books acts at several casinos, and currently provides tribute bands to the Lake Arrowhead Concert Series. For more information: https://pschamber.org/event/rock-the-park-featuring-wanted-the-ultimate-tribute-to-bon-jovi/

First Wednesday Art Walk | First Wednesdays - May 1 from 5-7pm | Backstreet Art District, 2652 Cherokee Way, Palm Springs

Backstreet is a unique community of artists’ working studios & galleries, and businesses that provides artistic services (reprographic, restorative and framing) in Palm Springs. We have an amazing assortment of original art for all tastes and budgets – paintings, ceramics, photography, mixed media, jewelry, lithography and more by locally, regionally and nationally recognized artists. For more information: www.80s favorites from May 16th, backstreetartdistrict.com

Palm Desert Concerts In The Park | Thursday May 2nd, 9th, 16th, 23rd & 30th from 7-8:30pm | Palm Desert Civic Center Park Amphitheater

Palm Desert's free Thursday Concerts in the Park series returns for the month of May. Performances by Steely Dan Tribute band Pretzel Logic on May 2nd, high energy dance band The A-List on May 9th, New Wave 80s band The Reflexx on May 16th, 50s and 60s rock and pop band The Dreamboats on May 23rd and country music band Country Nation on May 30th. Concertgoers can sample culinary creations from a variety of food trucks or bring their own picnic basket (along with blankets and chairs) to enjoy during the shows. Alcohol beverages and smoking are prohibited. For more information: https://discoverpalmdesert.com/spring-concerts-2024/

Theatre Fest 2024 | May 3-5 | Indio Performing Arts Center

Presented by Desert TheatreWorks ArtsWorks. Diverse theatrical experiences from dramas to musicals will be showcased at this weekend-long event. Starting on May 3, attendees can enjoy Short and Sweet: An Evening of One Act Plays. Then on May 4 watch a stage reading of Thornton Wilder’s Our Town. On May 5 Desert TheatreWorks will present its finest performers with Curtain Call Cabaret: DTW Sings Broadway. For more information: 760-775-5200 | www.dtworks.org/artsworks

Palm Springs Entertainment Convention | May 4 from 12-7pm | Palm Springs Convention Center

The most celebrities under one roof ever available for meet and greets in Coachella Valley history! There will be vendors selling comics, toys, collectibles, as well as artists and creatives both local and world renown. Live panels will take place on stage throughout the day as well as a cosplay contest during the final hour of the show. For more information: https://www.terrestro.com/shop/p/palm-springs-entertainment-convention-2024-ticket

La Quinta Concerts in the Park | May 4 from 7-9:30pm | SilverRock Park

The musical guest this month is Gypsy Dreams a Tribute to Fleetwood Mac. Organizers claim that Gypsy Dreams is the most authentic visual and musical tribute to Fleetwood Mac you will ever experience. This national touring band provides a high energy, passion-driven show by blending perfect harmonies, precise musicianship and character performances complete with realistic costumes, video backdrop and storytelling. A fun, unforgettable musical performance you won’t want to miss! There will be food truck vendors on site, however attendees are welcome to bring low back chairs, food, and non-alcoholic beverages. For more information: https://www.laquintaca.gov/Home/Components/Calendar/Event/15840/287

Multicultural Festival | May 4 from 5-7pm | Palm Springs Air Museum

Join in a celebration of cultures, with an array of live performances, vendors, and delicious food trucks. This is a free event! For more information: 760-883-2700 | https://www.psusd.us/Page/2#calendar1/20240520/event/129765

Palm Desert Residents’ Day | May 4 from 10am-5pm | Palm Springs Air Museum

Everyone showing a Palm Desert drivers’ license or utility bill gets free admission. Enjoy all 91,000 square feet of climate controlled exhibit space, and the over 75 flying and static aircraft representing World War II, Korea, Vietnam, Desert Storm and the newest Stealth Fighter F-117 Nighthawk inside the James R. Houston Pavilion. Patrons must show a form of proof that live inside the city of Palm Desert to receive free admission. For more information: 760-778-6262 | https://palmspringsairmuseum.org/programs/

Chamber of Commerce Join Annual Mixer | May 8 from 5:30-7:30pm | Palm Springs Air Museum

Enjoy food, drinks and valley-wide networking. Contact your local chamber for your entrance wristbands. Now – $20 per person. For more information: 760-347-0676 | www.gcvcc.org

Harvey Milk Breakfast | May 9 from 8:30-11am | Palm Springs Convention Center

Organizers invite you to be with them at this essential community event, celebrating Harvey Milk’s life and legacy. Join community leaders, business leaders, and others who support equality and justice for all at this 12th annual celebration. For more information: 760-416-8711 | www.pspride.org/harveymilk

Arthur Lyons Palm Springs Film Noir Festival | May 9-12 | Palm Springs Cultural Center

Founded in 2000 by the late mystery author and Palm Springs community leader, Arthur Lyons, this popular Film Noir festival includes an eclectic mixture of prestigious and obscure black and white “B” movies from the classic film noir period. The Festival is known for unearthing and screening rare films, restored classics, and for the special appearances of the stars who were in them. For more information: 760-325-6565 | www.arthurlyonsfilmnoir.org

Bow Wow Bingo | May 11 at 6:45pm | The Sonoran, Palm Springs

A Night of Bingo Under The Stars for Paws & Claws benefiting the Palm Springs Animal Shelter. Happy Hour starts at 5:00 so arrive early to grab some food and drinks and to claim your seat. For more information: www.psanimalshelter.org/bingo

The Lofts Art Walk | Second Saturdays - May 11th from 5-8pm | The Lofts Art District, Palm Springs

During the Art Walk, the district comes alive with energy and creativity. Visitors have the opportunity to explore the various galleries and studios interact with artists, and view a wide array of artwork. For more information: www.facebook.com/p/The-Lofts-Arts-District-100085460859372

Palm Springs Movies In The Park | May 14 & 28 at 7pm | Palm Springs Downtown Park

The May 14th Movie In The Park is Jurassic Park. Catch Pee Wee's Big Adventure on May 28th. For more information: 760-325-6565 | https://www.eventbrite.com/e/movies-in-the-park-jurassic-park-tickets-807316805297?aff=erelexpmlt and https://www.eventbrite.com/e/movies-in-the-park-pee-wees-big-adventure-tickets-807321148287

Joshua Tree Music Festival | May 16-18 | 2601 Sunfair Road, Jashua Tree Lake Campground

The stellar lineup includes Grammy-winning Fantastic Negrito, Moon Hooch, Steve Poltz, Funk You, Telmary & HabanaSana. With continuous music on four stages, late-night headphone house, yoga, workshops, and the Healing Oasis, the festival promises a diverse sonic journey and a celebration of the desert’s raw beauty. Camp under the stars or choose from various local lodging options. For more information: https://joshuatreemusicfestival.com

Cathedral City State of the City | May 18 from 11am-2pm | DoubleTree by Hilton Hotel

The Greater Coachella Valley Chamber of Commerce, in partnership with the City of Cathedral City, invites you to attend to the 2024 Cathedral City State of the City, Business Awards and Business Expo. This annual event offers a review of economic activity from the previous year, as well as future development and plans significant to the business community. The featured speaker will be Mayor Mark Carnevale, with appearances by Mayor Pro Tem Nancy Ross and Council Members Raymond Gregory, Ernesto Gutierrez, and Rita Lamb.. For more information: 760-347-0676 | https://gcvcc.org/event/cathedral-city-state-of-the-city-business-awards-and-business-expo/

Indio Mixer | May 23 from 5-7pm | Jackalope Ranch, 80-400 Hwy 111, Indio

Attendees can look forward to an evening filled with networking opportunities celebrating a festival filled business community in Indio. This is event is FREE to attend for members and non members. Attendees are encouraged to dress up in their best festival attire. Everyone who participates will be entered into our raffle to win great prizes! For more information: 760-347-0676 | https://gcvcc.org/event/indio-mixer/

Desert Hot Springs Memorial Day Ceremony | May 27 from 9-10am | Veterans Park

This Memorial Day, let’s come together as a community to pay tribute to the heroes who selflessly served our country. Let us not only remember the fallen, but also express our deepest gratitude to their families and loved ones who continue to bear the weight of their loss. All are welcome to attend this solemn occasion. For more information: 760-329-6411 | www.cityofdhs.org

Memorial Day Air Fair & Flower Drop | May 27 from 10am-5pm / Palm Springs Air Museum

This is a very special day at the Palm Springs Air Museum. Their brief Memorial service is dedicated to all of our fallen comrades, who paid the ultimate price for our freedoms. In their honor, the Palm Springs Air Museum highlights the service with a fly-by and flower drop of over 3,000 red and white carnations from a B-25 Mitchell bomber. This most impressive ceremony is their way of saluting our fallen comrades. Visitors are welcome to pick up a flower to take home. Flight exhibitions & activities are scheduled all day long, Memorial Ceremony and Flower Drop scheduled for 1pm. For more information; 760-778-6262 | https://palmspringsairmuseum.org/programs/annual-memorial-day-air-fair-and-flower-drop-5/

Greater Palm Springs Restaurant Week | May 31-Jun. 9

The perfect opportunity to savor the start of summer - every poolside bite, every chilled cocktail, every sunset dinner with a view - with more options including prix fixe menus and exclusive special offers only available during Restaurant Week. This annual event offers residents and visitors 10 days of exquisite dining experiences throughout our nine-city oasis. For more information: www.visitgreaterpalmsprings.com/restaurant-week

First Wednesday Art Walk | First Wednesdays (May1st) from 5-7pm | Backstreet Art District, 2652 Cherokee Way, Palm Springs

Backstreet is a unique community of artists’ working studios & galleries, and businesses that provides artistic services (reprographic, restorative and framing) in Palm Springs. We have an amazing assortment of original art for all tastes and budgets – paintings, ceramics, photography, mixed media, jewelry, lithography and more by locally, regionally and nationally recognized artists. For more information: www.backstreetartdistrict.com

Southwest Food Fest | Fridays from 5-9pm | Southwest Church Parking Lot, 44175 Washington Street, Indian Wells

Dine with family and friends with good music, movies, and other activities on Friday nights at Coachella Valley's premier food truck event. For more information: 951-551-6233 | www.southwestfoodfest.org

Friday Nights on Pierson | Fridays from 6-10pm | 66379 Pierson Blvd, Desert Hot Springs

Get ready to tantalize your taste buds with a mouthwatering array of flavors from some of the best food trucks in town! Whether you’re craving juicy burgers, sizzling tacos, or savory BBQ, we’ve got you covered. Don’t miss out on this delicious opportunity! Bring your friends, family, and appetites for an evening filled with delicious food, great company, a variety of vendors, and a fantastic atmosphere. For more information: 760-329-6411 | www.cityofdhs.org

VillageFest | Thursdays from 6-10pm | Palm Canyon Drive, Palm Springs

Downtown Palm Springs transforms into a diverse array of artists, artisans, entertainers, and purveyors of fresh fruits and veggies, flowers, jewelry, snacks and sweets. Add all that to the great shops, restaurants, clubs, and entertainment venues located along World Famous Palm Canyon Drive - and the result is one of Southern California’s most popular weekly events: VillageFest! For more information: 760-320-3781 | www.villagefest.org

The In-Flight Experience | Saturday May 4th & May 25th from 5-7:30pm | PS Air Bar, Palm Springs

Take a Vacay witout leaving home. Great Music, Fine Food, Classy Cocktails, and First Class Service. For more information: 760-327-7701 | www.psairbar.com/events

Palm Springs & Palm Desert Certified Farmers’ Market | Saturdays & Sundays - See below for Schedule & Locations

Palm Springs Outdoor: Saturdays Oct.-May from 8am-1pm at the Palm Springs Cultural Center | Palm Springs Indoor Saturdays Jun.-Sep. from 8am-1pm at the Palm Springs Pavilion. Palm Desert Outdoors: Sundays Oct.-April from 8am-1pm at 72559 Hwy 111 Palm Desert. For more information: www.certifiedfarmersmarkets.org

The Lofts Art Walk | May 11th (Second Saturdays) from 5-8pm | The Lofts Art District, Palm Springs

During the Art Walk, the district comes alive with energy and creativity. Visitors have the opportunity to explore the various galleries and studios interact with artists, and view a wide array of artwork. For more information: www.facebook.com/p/The-Lofts-Arts-District-100085460859372

College of the Desert Street Fair | Saturdays & Sundays from 8am-2pm from Oct. through May | 43500 Monterey Ave., Palm Desert

With merchandise and services for all ages and any budget, the Street Fair offers more than 300 merchants, artists, a farmer’s market, live entertainment, gourmet food and more. For more information: 760-636-7957 | http://codaastreetfair.com

First American Title Insurance Company and the operating divisions thereof, The Briggs Group and/or Coldwell Banker Realty make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions

The Briggs Group | Coldwell Banker Realty | Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Amy Baxa – DRE# 02059963 | Coldwell Banker - DRE# 00616212

April 7, 2024

March 2024 Coachella Valley Residential Real Estate Market Update

Our local real estate market experts, Market Watch LLC, have just released their March 2024 Desert Housing Report. Some highlights: 

COACHELLA VALLEY MARCH HOME SALES RECOVERY: Coachella Valley home sales in March were 21.7% below normal (where normal is calculated from home sales in March in the pre-pandemic years 2016 through 2019). Market Watch’s comment was that there was a slight improvement in home sales compared to normal from February. They noted that if mortgage rates were to decline, they would hope to see home sales return to normal levels by the end of the year. 

COACHELLA VALLEY MARCH DETACHED HOME MEDIAN PRICE: The median price of a detached home in the Coachella Valley in March was $700,000 (up 2.2% from a median detached home price of $685,000 in March 2023 ). Market Watch noted that they expect the seasonal pattern of rising spring home prices to continue for a few more months. However, they also noted that with home inventory increasing and home sales remaining low, supply and demand continues to slowly favor buyers, which should somewhat limit the increase in home prices. 

COACHELLA VALLEY MARCH ATTACHED HOME MEDIAN PRICE: The median price of an attached home in the Coachella Valley in March was $500,000 (up 8.7% from a median attached home price of $460,000 in March 2023). Marcket Watch pointed out that the seasonal range of prices for attached homes was much larger than that for detached homes. They also noted that attached home prices were following the normal seasonal pattern, so they expected attached home prices to continue to increase for the next two or three months. 

MARCH 12-MONTH CHANGE IN THE PRICE OF THE AVERAGE SIZE COACHELLA VALLEY HOME BY CITY: The changes in average size detached home prices ranged from an increase of 21.7% for the average size 3,450 sq ft detached home in Indian Wells to a decrease of 5.9% for the average size 1,600 sq ft detached home in Desert Hot Springs. The changes in average size attached home prices ranged from an increase of 9.9% for the average size 1,450 sq ft attached home in Bermuda Dunes to a decrease of 7.8% for the average size 750 sq ft attached home in Desert Hot Springs. 

COACHELLA VALLEY MARCH MONTHLY HOME SALES (3-MONTH TRAILING AVERAGE): In March, total monthly home sales averaged 633 homes per month (up 9.7% from 577 average monthly home sales in March 2023 and up 22.2% from 518 average monthly home sales in February). Market Watch noted that because of seasonality in the Coachella Valley home sales data, it was difficult to determine where home sales stand on a historical basis. They noted that the home sales recovery data shows that while monthly average home sales were improving, they were still running 21.7% below historic norms. 

COACHELLA VALLEY MARCH MONTHLY HOME SALES (12-MONTH TRAILING AVERAGE): In March, the 12-month average of home sales, which removes seasonality from the Coachella Valley home sales data, showed total home sales were averaging 622 homes per month (down 3.6% from 645 average monthly home sales in March 2023). Market Watch noted that the long term average of home sales, which had been increasing for the last 6 months, now appeared to be holding at current levels. However, they continue to believe that it will recover when mortgage rates come down to the 5.5% to 6% range. Recent declines in inflation gave Market Watch hope that this might have already started.

COACHELLA VALLEY MARCH HOME SALES BY CITY: For another month, every city except Desert Hot Springs and Indio had higher three-month average home sales than in March 2023. The cities with the largest percentage-wise increase in average monthly home sales were Indian Wells (up roughly 50% year-over-year) and Palm Springs (up 23% year-over-year).

COACHELLA VALLEY MARCH HOME SALES BY PRICE RANGE: Market Watch felt that this data continued to show that March home sales are generally about the same as a year ago in most price ranges. The largest sales increases were in homes priced from $500k to $600k (where sales were up 33.8% year-over-year). Sales of homes priced over one million dollars increased by 31.5% year-over-year (mainly due to more homes now falling into the over one million dollar price range). Market Watch did point out that the evenness of home sales by price range was positive since it showed that the Coachella Valley housing market was well balanced in all price ranges.

COACHELLA VALLEY APRIL 1ST TOTAL HOME SALE INVENTORY: On April 1st, the Coachella Valley home sale inventory was 2,450 homes (up 24% from 1,976 homes on April 1st, 2023 and the highest number since June 2020). Market Watch noted that while home sale inventory has improved, it is still 500 to 1,000 homes less than historic norms (e.g., 3,772 homes on April 1st 2019 and 3,043 homes on April1st 2020). Market Watch felt that the seasonal pattern suggested that this inventory level may be the high for awhile, since inventory usually declines between April and September.

COACHELLA VALLEY APRIL 1ST REGIONAL MONTHS OF SALES RATIO: On April 1st, the Coachella Valley’s overall months of sales ratio was 3.9 months (up from 3.1 months on April 1st, 2023). Market Watch pointed out that the data over time showed that this fundamental ratio has continued to crawl back to pre-pandemic levels. They also stated that even with a months of sales ratio close to four months, there was no overbalancing force yet pushing prices either higher or lower. Therefore, Market Watch continued to expect home prices to stay relatively stable around current levels.

COACHELLA VALLEY APRIL 1ST MONTHS OF SALES RATIOS BY PRICE RANGE: Market Watch noted that as was the case with the regional months of sale ratio, the months of sales ratios were slightly above year ago levels, except in the case of higher priced homes where months of sales ratios were starting to move higher. Market Watch felt that these months of sales ratios were not high enough to cause any disruption to supply and demand.

COACHELLA VALLEY APRIL 1ST MONTHS OF SALE RATIOS BY CITY: On April 1st, every Coachella Valley city had a months of sales ratio measurably higher than one year ago. Every Coachella Valley city other than Coachella had a months of sales ratio over three months, with four cities (La Quinta, Rancho Mirage, Palm Springs and Bermuda Dunes) having months of sales ratios over four months. Market Watch explained that a months of sales ratio of three to four months was considered normal and that the current distribution of months of sales ratios indicated that supply and demand remained pretty much balanced throughout the Coachella Valley.

COACHELLA VALLEY MARCH REGIONAL DAYS IN THE MARKET: Markt Watch noted that the median selling time in the Coachella Valley has slowly been climbing for the last three months. At the end of March, the median number of days in the market in the Coachella Valley was 42 days (down 2 days from 48 days in March 2023). Market Watch felt that the median selling time will remain around current levels moving further into the year.

COACHELLA VALLEY MARCH DAYS IN THE MARKET BY CITY: In March, Coachella continued to have the lowest median selling time for detached homes at 31 days, followed by Indian Wells at 38 days and Desert Hot Springs at 39 days. In the case of attached homes, in March Bermuda Dunes had the shortest average selling time at 16 days, followed by Indio and Rancho Mirage at 35 days each.

COACHELLA VALLEY MARCH PERCENTAGE OF HOMES SELLING ABOVE LIST PRICE: In March, the percentage of homes selling in the Coachella Valley over list price was 14.1% (up from 13.6% in March 2023). Market Watch continued to expect the number of homes selling above list to remain around this level (slightly above historic norms).

COACHELLA VALLEY MARCH AVERAGE PRICE DISCOUNTS/PREMIUMS: In March, in all Coachella Valley cities, detached homes were selling at an average discount ranging from 0.7% in Desert Hot Springs to 4.1% in Bermuda Dunes. In the case of attached homes, in March average discounts ranged from 1.5% in Indio to 3.9% in Bermuda Dunes.

THE BRIGGS GROUP | COLDWELL BANKER | Laurie Briggs - DRE# 01896117 | Tim Briggs - DRE# 01898254 | Amy Baxa - DRE 02059963 | Coldwell Banker Realty - DRE# 00616212

Posted in Market Updates