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Once again we have fewer than 800 homes available for sale in the entire Palm Springs area. This is 60% fewer than what we would see in a normal market.
As a result, buyer activity is lower than normal and home prices are continuing to rise.
The Hamilton Real Estate Group
Dec. 1, 2021
Desert Lifestyle Report - December 2021
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Get Into The Holiday Spirit |
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It's been a long year, but we're in the home stretch. Many of our winter visitors will head home to spend the holidays with their families, others will bring the family here to the desert to celebrate and enjoy our warmer weather. If you're here during December, read on for a variety of ways to enjoy the last month of the year in the Palm Springs area.
THINGS TO DO IN DECEMBER
SPECIAL EVENTS Wild Lights at The Living Desert - Thorugh December 30 For 29 years The Living Desert has transformed the zoo into a sparkling winter wonderland to celebrate the holiday season. With over a million colorful lights, life-size luminescent animal lanterns, model trains, holiday music, and food and beverages, there is something for everyone. Oh and don't forget to get your selfies with Santa. For more information and to purchase tickets click HERE. Indio International Tamale Festival - December 4-5 This free annual event is the perfect way to spend an afternoon. Featuring a variety of musical acts on the main stage, carnival rides, and the world's biggest bounce house, and some of the best tamales you'll find anywhere, the Tamale Festival is perfect for young and old alike. For more information, click HERE. Chamber Masters Golf Tournament - December 3 This is the inaugural Chambers Masters to be held on the Pete Dye Course at the Westin Mission Hills Golf Resort & Spa. Registration begins at 9am on the day of the event. For more information or to sign up, click HERE. Ironman 70.3 - December 5 More than 2,000 athletes will return to La Quinta and Indian Wells as they tackle a challenging 1.2 mile swim at Lake Cahuilla, a 56-mile bike course, followed by a 13.1 mile run through the Indian Wells Golf Resort. Spectators are allowed along the route. For more information, click HERE.
OTHER ACTIVITIES Palm Springs Vintage Market - December 5 Held the first Sunday of every month, the Palm Springs Vintage Market is the perfect place to soak up the area's mid-century modern vibes, enjoy the open air, and take in some chill music. Open from 8am to 2pm, admission is an affordable $5 and parking is free. You'll find furniture, artwork, jewelry and more. For more information, click HERE. Men of the Desert Fashion Show - December 5 While it's not yet fashion week here in the desert, you can catch the latest fashions the the Palm Springs Air Museum in this event that benefits local organization Animal Samaritans. This is the 12th year of the event and the fashion show is the perfect blend of "dudes, dogs, and designer duds". For more information, click HERE.
ENJOY SOME MUSIC Agua Caliente Casino - Agua Caliente has one of the premier showrooms in the valley, and live shows scheduled this month include:
For more information, click HERE. Fantasy Springs Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE. Morongo Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE. Spotlight 29 Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE Diane Schuur - December 17-18 Here's your chance to experience two-time Grammy winner Dian Schuur as she presents songs from her latest record "Running on Faith" at the super cool Purple Room in Palm Springs. For more information and to purchase tickets, click HERE
CHECK OUT A LOCAL THEATER Palm Canyon Theatre
For more information, click HERE. Desert Theatreworks
For more information, click HERE. Desert Rose Playhouse
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CHRISTMAS CELEBRATIONS There are a variety of ways to celebrate the Christmas Holidays in the desert. Here are a few popular ways to celebrate. The Lighting of the Christmas Tree Festival of Lights Parade - December 4 It's time for the 29th annual Festival of Lights Parade in downtown Palm Springs. It's the perfect way to kick of your holiday celebrations, with thousands of holiday lights on hand-decorated floats, Macy's-style parade balloons, musical performances from marching bands, the Budweiser Clydesdales, and Santa and Mrs. Claus. For more information, click HERE Barry Manilow's "A Gift of Love" - December 7-8 & 10-12 This popular annual event features Barry Manilow performing hit songs from his vast catalog of music as well as many holiday favorites. Proceeds from the shows benefit over 25 local charities. For more information and to purchase tickets, click HERE
NEW YEAR'S EVE CELEBRATIONS
There are a variety of ways to celebrate the Christmas Holidays in the desert. Here are a few popular ways to celebrate.
The Monday Minute Don't forget to check out The Monday Minute every Monday to get an up-to-date snapshot of our local real estate market.
Check out the Monday Minute each week for an answer to these questions and more. You'll find it every Monday at this link: www.TheMondayMinute.com To view our most recent full-month market report, click here: Desert Market Update. Or give us a call at (760) 625-7229, or visit www.thehamiltonregroup.com, for an easy-to-use home search and for information on how we can help you with all of your real estate needs.
Copyright © 2021 Hamilton Desert Homes, LLC. All rights reserved |
Nov. 28, 2021
The Monday Minute - November 29, 2021
The Palm Springs area real estate market experienced a dropoff in activity this week! New escrows were down, new listings were down, inventory was down! The only thing that was up was average selling prices.
Scroll down to view all of the charts from this update.
Nov. 15, 2021
Palm Springs Area Home Sales Show Signs of Slowing
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While not as "red hot" as it was the first half of the year, the real estate market continues to be a strong one for sellers. Inventory had been rising slightly each week recently but now has dropped back down to near-record lows.
The number of homes available for sale was down 55.6% compared to last October and down 70% compared to three years ago.
Many buyers have decided to "take a break," and that, combined with low inventory, has resulted in a 30.5% drop in the number of homes sold compared to October of last year.
So while there are fewer buyers and fewer closings, and the rapid price increases from the first 1/2 of the year have slowed a bit, good homes priced right are selling quickly at or above the asking price.
When we look at what's happening in the market month to month, we find that the number of homes for sale is up +3.6% in October compared to September.
The number of homes sold this past month rose 5.1% compared to September, and the average selling price in October is up +2.2% to $705,000, compared to $690,000 in September.
While prices continue to rise, the rapid increases we experienced during the 1st half of the year are settling down a bit. We had seen prices up 33% over the year prior. The average sale price for October was up 21% over the same month last year.
Let's look at the key market indicators that show how our market is performing compared to this time last year; Average Sold Price, Number of Days on Market, and Number of Homes for Sale.
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- Average Home Sale Prices. Last month, the average home sale price in the Palm Springs area was $714,141, an Increase of (+22.1%) over the same month the previous year.
- Number of Days on Market. Days on market have decreased (-44.8%), homes are selling on average of 37 days.
- The Number of Homes for Sale. There were 891 homes for sale last month; a (-55.6%) decline over October of last year. Inventory is still at an all-time low. If trends continue, we'll see fewer homes on the market over the coming months.
Interest rates are still at an all-time low and will continue to drive new purchases and refinance activity. Conforming 30-year fixed-rate mortgages are at 3.250%, while the FHA fixed-rate are at 2.990% and VA loans are at 2.990%.
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City Standouts! What’s Up and Who’s Down?
You can get a better view of the trends in our market when you look at the numbers for each major city in the area.
The number of homes sold in October 2021 vs. October 2020 is down in all cities across the Coachella Valley, with the most significant percentage drop in sales in Indian Wells, with 51.9% fewer homes sold. La Quinta -39.7%, Rancho Mirage -34.9%, and Indio -32.7% also saw major declines in the number of homes sold last month.
When looking at Average Selling Price, Indian Wells again topped all other cities with an average selling price of $1,693,640, a +57.7.% increase over last October. Palm Desert saw a +45.6% increase in the average sale price, and Indio was right behind with a +41.7% increase. Every city in the Coachella Valley experienced an increase in average selling price except for Bermuda Dunes, down -4%.
Homes continue to sell quickly, and The number of Days on Market decreased dramatically for all cities in the Coachella Valley Homes sold fastest in Palm Springs, in an average of 26 days. Homes took the longest to sell in Desert Hot Springs, an average of 46 days.
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City Watch - Palm Desert
Number of Homes for Sale = 165 (-66%)
Number of Homes Sold = 182 (-28.9%)
Average List Price = $891,730 (+21.9%)
Average Sale Price = $679,338 (+45.6%)
Average Days on Market = 32 (-52.9%)
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If you're considering putting your home on the market, let us help you get it SOLD! We see multiple offers for properly priced homes, and with fewer homes on the market, this could be the best time to get your home sold.
If you'd like a detailed market report for a specific city, email us and let us know which city reports you'd like to receive.
Give us a call at (760) 625-7229, or visit www.thehamiltonregroup.com, for an easy-to-use home search, and for information on how we can help you with all your important real estate needs.
The Hamilton Real Estate Group is evolving to meet all of our customer’s real estate needs. If you are ready to sell, call or email us, or for a FREE instant home valuation report, click here: What's My Home Worth?
Posted in
Market Updates,
Real Estate News
Nov. 14, 2021
The Monday Minute - November 15, 2021
Lots of indicators in the Palm Springs area real estate market that could indicate a cooling down of the market. Listings are down, inventory is down, new escrows are down as are closed transactions.
But average selling prices are slightly up. We'll be watching the trends as we move into the holiday selling season to see of this is the beginning of a cooldown in our market.
Nov. 13, 2021
47965 Via Nice, La Quinta, CA
Offered at $635,000
- 4 bedrooms
- 4 bathrooms
- Attached casita
- 2,957 sq. ft.
- 10,890 lot size
- $436 monthly HOA fee
Great opportunity in one of La Quinta's premier gated communities!
Situated on an approximately 1/4-acre cul-de-sac lot with panoramic mountain views in the beautiful gated community of Lake La Quinta, this 2,957 sq. ft., four bedroom 3 1/2 bath home with attached casita has plenty of space for entertaining, a work-from-home office, or a multi-generational family.
High ceilings provide a great feel to the main living spaces, including a formal living room, a formal dining room, an open kitchen, and a family room with a corner fireplace and casual dining area.
A large master suite overlooks the backyard and features an ensuite bath with dual vanities, tub, and separate shower.
The spacious backyard has a covered patio and south-facing mountain views.
Lake La Quinta offers boating, fishing, and a 3-acre community park with tennis, a community pool, and a picnic area. HOA fees include cable TV with HBO & Showtime and front yard landscaping.
Posted in
Homes For Sale,
Listings
Nov. 8, 2021
The Monday Minute - November 8, 2021
The Palm Springs area real estate market has remained remarkably steady through summer and into fall. Inventory is still 60% below what's normal for this time of year and we're not seeing a rash of new listings like we normally see as we move into our high selling season.
Average selling prices were down last week and we'll be watching this going forward to see if this becomes a trend.
Oct. 31, 2021
The Monday Minute - November 1, 2021
We're continuing to see a slight uptick in available homes for sale in the Palm Springs area. This change in inventory seems to be driven primarily by a pullback of buyers waiting for the market to "normalize" before they decide to make a purchase.
Average selling prices are starting to stabilize as well, with the rapid price increases we saw early in the year showing signs of slowing.
Oct. 30, 2021
Desert Lifestyle Report - November 2021
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Palm Springs Is Open For Business! As we move into November, we're starting to see a return to a bit of "normalcy" after a long period of local businesses and events closing or going virtual due to COVID. Restaurants are open, live shows are back, and major events are returning to the desert. Scalping and over-seeding of the golf courses is nearly complete, leaving that vibrant, beautiful green the desert is known for. It's a great time to visit the Palm Springs area, and there's something to do whatever your interests. THINGS TO DO IN NOVEMBER SPECIAL EVENTS McCormick's Classic Car Auction - November 19-21 This popular 3-day event brings over 500 of the highest quality classic and exotic cars to the auction block at the Palm Springs Convention Center. Admission is free all day on Friday with a champagne happy hour from 11am-noon. For more information and to purchase tickets click HERE. La Quinta Art Celebration - November 11-14 One of the area's most popular art festivals — the La Quinta Art Celebration — returns to the Civic Center Park this month. Featuring over 200 artists from 32 states and five countries, this is the largest display of quality art in the valley each year. In addition to the art, you'll enjoy a wide selection of food and beverage and live music performances to liven up the day. For more information, click HERE. Greater Palm Springs Pride - November 5-7 The city of Palm Springs hosts the 35th Anniversary of their 3-day pride celebration this year. The event celebrates the strength, equality, and self-determination of the local LGBTQ community. The weekend-long celebration includes a festival with musical acts Third Eye Blind, Joey Watley, Flock of Seagulls, and more. The Global Rainbow laser light art show will be featured each night, and the parade takes place Sunday morning. For more information, click HERE. Cathedral City Hot Air Balloon Festival - November 19-21 The 7th annual Cathedral City Hot Air Balloon Festival and Food Truck Fiesta returns this year with balloon rides, nighttime balloon glows, and interesting balloons for the Special Shapes Sunday Breakfast. You'll enjoy great food from the food trucks, live entertainment, a Kid's Zone, and an outdoor market. For more information, click HERE.
OTHER ACTIVITIES Dia De Los Meurtos Block Party - November 6 The 7th annual Run with Los Muertos 5k and block party returns to the desert on November 6 in Coachella. The event is a huge block party in the heart of downtown Coachella that serves up art, music, cultural awareness, and a bit of health and wellness. The 5k run benefits local organization Raices Cultura and provides arts, education, and health services throughout the Coachella Valley. For more information, click HERE. Merry Movie Nights - The Grinch - November 27 The Gardens on El Paseo kick off their Merry Movie Nights series — weekly outdoor screenings of holiday-themed movies — with a showing of The Grinch. Tickets go on sale Nov 1 and showtimes start at dusk (5pm). For more information, click HERE. David Sedaris - November 13 His humorous observations on everyday life, much of it based on his own experiences growing up in a middle-class family in suburban North Carolina, have helped him land several books on the New York Times best-seller list. This event will be held at the Palm Springs Cultural Center. For more information and to purchase tickets, click HERE Marvyn's Magic Theater The perfect escape from reality, Marvyn's Magic Theater presents quality magical entertainment shows, including comedy and musical acts, featuring successful acts from Broadway, Vegas, and beyond. Conveniently located in La Quinta near Washington & Hwy 111, this adults-only venue has shows every Thursday, Friday & Saturday. For more information, click HERE.
ENJOY SOME MUSIC Agua Caliente Casino - Agua Caliente has one of the premier showrooms in the valley, and live shows scheduled this month include:
For more information, click HERE. Fantasy Springs Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE. Morongo Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE. Spotlight 29 Casino - Fantasy Springs' special events center is back in action and features some great acts this month:
For more information, click HERE CHECK OUT A LOCAL THEATER Palm Canyon Theatre
For more information, click HERE. Desert Theatreworks
For more information, click HERE. Desert Rose Playhouse
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CHANGE YOUR ROUTINE WITH FIVE NEW RESTAURANTS It's easy to get stuck in a rut and end up back at your "old favorites" time and again. For a change of pace, try out one of these recent additions to our local dining scene. Boozehounds - It's the area's first dog-friendly restaurant will a separate menu specifically for man's best friend. Enjoy outdoor dining in the open-air lounge and patio bar. For more information and menus, click HERE JWB Grill - With an eclectic menu in the recently opened Margaritaville Resort Palm Springs, you'll enjoy burgers, entrees, soups & salads, locally sourced. For more information and menus, click HERE Dave's Hot Chicken - If you like your chicken spicy, check out this popular L.A. restaurant's first location in the Coachella Valley. Order sandwiches, tenders, and sliders in seven levels of heat! For more information and menus, click HERE Larkspur Grill - Palm Desert's newest restaurant recently opened in Hotel Paseo. Open for breakfast, lunch, and dinner, they feature a full bar and fresh ingredients from local farmers. For more information and menus, click HERE Wahlburgers - Owned by chef Paul Wahlberg, and his more famous brothers, Donne and Mark, you'll find a selection of burgers and sandwiches, salads and chili, and five flavors of tater tots! Located in Morongo Casino. For more information and menus, click HERE |
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2021 Hamilton Desert Homes, LLC. All rights reserved. |
Oct. 29, 2021
38483 Bent Palm Drive, Palm Desert, CA
Offered at $599,00
- 3 bedrooms plus den
- 3 bathrooms
- Detached casita
- 1,888 sq. ft.
- 6,098 lot size
- $343 monthly HOA fee
This popular Sun City Fostoria model is sold turnkey furnished with a golf cart and features three bedrooms plus a den, a detached casita, an open floor plan with high ceilings, and many recent upgrades.
A covered entry courtyard separates the house from a casita with french doors and a bath with a full shower, perfect for guests or a work-from-home office. The kitchen opens up to the living room and features a new gas stove and dishwasher, a kitchen island, a breakfast nook, and updated granite countertops.
A spacious living room with a fireplace opens to the formal dining area and overlooks a covered patio with a gas fire pit, a BBQ grill, and drought-tolerant landscaping. Unwind in the large master suite complete with a walk-in closet, double vanities, large soaking tub, and shower.
Upgrades to this recently repainted home include Milgard windows and doors, wood-look tile flooring in the main living areas and bedrooms, and resurfaced concrete driveway, walkways, and patios.
With a wide variety of amenities, including two golf courses, three swimming pools, eight tennis courts, 12 pickleball courts, a large billiards room, bocce ball courts, a ping pong room, a dance studio, two gyms, two dog parks, and a movie theater, Sun City offers the ultimate in over-55 living!
HOA fees include internet and cable TV service.
Posted in
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Recognition
International Diamond Society award
Coldwell Banker's #1 small team
in the Palm Springs area!
