April 15, 2019

A Sizzling Summer Selling Season Is On The Horizon!

There is a clear trend in our local real estate market over the last five months… and its good news for sellers while providing some challenges for our buyers.

 

Trendvision’s® most recent year-over-year, March 2019 vs. March 2018 Report shows (-6.7%) fewer homes sold last month and inventory remains low throughout the Palm Springs area. The number of homes sold was down (-10.8%) in the under $500K price bracket, essentially flat in the $500-$999,999 price range, and up a healthy (+15.7%) for homes selling for over $1M.

 

Inventory constraints eased slightly in the $500-$999,999 price range with a slight (+2.0%) increase in homes available for sale. Inventory for the under $500K price range was nearly unchanged, and there were (-5.7%) fewer homes available for sale priced $1M+.

Average selling prices rose (+9.0%) for homes priced under $500K, and sale prices rose (+9.6%) for homes priced $1M+. Selling prices remained flat for homes in the $500-$999,999 price range. 

 

Interest rates are still very attractive and remain well below 5%, which is helping the market. You can get a 30-year fixed rate mortgage at 4.375% and the FHA 30-year fixed rate is 4.125%.  If you’re financing a larger amount, the Jumbo 30-year fixed rates are 4.25% and adjustable Jumbo loans can be had for as low as 3.75%. 

 

Let’s look at the three key market indicators, Average Sold Price, Number of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+13.2%) over the same month last year. The biggest gains were for homes priced under $500K (+9.0%) and homes priced $1M+ selling for (+9.7%) more. 
  • Number of Days on Market dropped (-2.3%) compared to March of last year, with the biggest change in the $1M+ price range where Days on Market dropped (-8.1%) over last year. Homes in the other price bands were selling quicker than a year ago as well, with Days on Market down (-6.2%) for homes priced $500,000-$999,999 and down (-2.5%) for homes priced under $500,000.
  • The Number of Homes for Sale. The number of homes for sale peaked in February at 3,850, with a slight decline last month to 3,742. Well keep an eye on this number next month, as we may have started our typical seasonal decline in available inventory.  Inventory last month was down down slightly (-0.8%) over March of last year.

I’ve stated this for the last 5 months, and it’s still true today … current trends have us in a seller’s market in most areas, with homes selling quickly and desirable homes priced right receiving multiple offers.

 

City Standouts! What’s Up and Who’s Down?

 

Continuing our trend over the last five months, the Number of Homes Sold in March 2019 vs. March 2018 was down across the Palm Springs area. The biggest percentage drop in sales were found in Bermuda Dunes down (-52.2%), Cathedral City down (-21.3%) and La Quinta down (-19.1%). Sales remained essential flat in Coachella while Indian Wells and Indio saw sales increased (+11.8%) and (+7.8%) respectively. 

 

Most cities experienced a rise in average selling prices, with the exceptions being Rancho Mirage, down (-17.4%), La Quinta, down (-10.7%), and Coachella, down (-6.7%).  

_____________________________________________________________

City Watch - Palm Desert

 

Number of Homes for Sale = 779 - Down (+3.2%)

Number of Homes Sold = 213 - Down (-8.2%)

Average List Price = $601,000 - Down (-4.0%)

Average Sale Price = $460,000 - Up (+17.3%)

Average Sale Price Per Sq. Ft. = $240 - Up (+13.2%)

Average Days on Market = 82 - Down (-4.7%)

_____________________________________________________________

 

The Number of Days on Market was down in all cities, with the exception of Indio, up (+20.3%) and Coachella up (+100%). 

 

Current trends have us in a seller’s market in most areas, with homes selling quickly and desirable homes priced right receiving multiple offers.

If you'd like a detailed market report for a specific city, just click here: Send Me A City Report.

 

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?

March 31, 2019

Desert Lifestyle Report - April 2019

   

April is a month full of music in the greater Palm Springs area! You’ll enjoy a variety of music this month ... the jazz & blues featured in the Garden Jam Music Festival in Indian Wells, Palm Springs’ annual Opera in the Park, and of course the two major events ... Coachella and Stagecoach. So whatever your musical tastes - from rock to opera, there is something for everyone this month!

   

  

Garden Jam Music Festival, April 5-6

With the BNP Paribas tennis tournament over for another year, music takes over the Indian Wells Tennis Garden. Featuring some amazing blues and jazz, the tickets are affordable and the venue is perfect. This year’s event features Jimmie Vaughan, Los Lobos, Buddy Guy, and Bradley Cooper’s backing band from A Star Is Born ... Lukas Nelson & Promise of the Real. And the Lifestyle Village will offer gourmet food, cocktails and wine, and fine & shopping.

 

Click HERE for more information and tickets.

 

Opera In The Park, April 7

 

Opera in the Park is the premier cultural event in April in Palm Springs. This annual FREE concert of beloved opera arias will feature accomplished opera professionals and will be accompanied by a professional orchestra conducted by Valery Ryvkin. Bring a picnic lunch or make a reservation at the Café d’Opera, and enjoy a relaxing afternoon of opera at Sunrise Park.

 

Click HERE for more information and tickets.

 

Coachella Music Festival, April 12-14 & 19-21

The Coachella Music Festival turns 20 this year. Named the best outdoor music festival in North America twelve times by Pollstar, this year’s festival features headliners Tame Impala, Ariana Grande and Childish Gambino, as well as several unique art installations across the festival grounds. Tickets are sold out, but you can still get on the waitlist for both weekends.   

 

Click HERE for more information.

 

Stagecoach Music Festival, April 26-28

Country music fans flock to the Polo Grounds this month to see live sets by Luke Bryan, Sam Hunt and Jason Aldean. With a variety of restaurants to choose from, including Guy Fieri’s Stagecoach Smokehouse, and on-site amping available, it’s sure to be a wild weekend of country music.

 

Click HERE for more information and tickets.

 

AmDocs Film Festival - March 29 - April 4

The 8th annual American Documentary Film Festival (AmDocs) comes to Palm Springs and showcases films that tell real stories behind the real issues. Named one of the world's five coolest Documentary Film Festivals by MovieMaker magazine, AMDOCS has a fast-growing reputation for featuring a superb program of films that engage, inspire and entertain its audience. This year’s festival will screen over 150 films across three venues: the Palm Springs Cultural Center (Camelot Theatres), the Helene Galen Theatre in Rancho Mirage, and the Indian Wells Theater and Oliphant Auditorium.

 

Click HERE for a full list of films and ticket information.

 

ANA Inspiration, April 1-7

Here’s your chance to watch the best women golfers in the world at the first major golf tournament of the year … the ANA Inspiration held at Mission Hills Country Club. This year is the 48th year for the tournament to be hosted at Mission Hills … the first tournament was held in 1972 and hosted by Dinah Shore. So come out and watch the play, stop by the autograph tent to meet your favorite players, and relax at the ANA Experience exhibit. Players are competing for a $2 million prize and that classic jump into Poppie’s Pond.

 

Click HERE for more information and tickets.

 

Palm Springs Fashion Week, April 11-13

Not to be outdone by Palm Desert, it’s time for Palm Springs to host their fashion week, with three days of fashion, music & beauty, and a special live music performance by Jaira Burns. This year’s event takes place at the Riviera Hotel and features a fabulous 100-foot runway built over the Chiki Pool at the hotel. The show tends to be a bit edgier than Fashion Week El Paseo, and features one of my favorite Project Runway designers, Candice Cuoco. 

 

Click HERE for more information and tickets.

 

Dive-In Movie Series, April 26

There’s nothing like watching a classic movie poolside on a warm desert evening! So head over to the Arrive Hotel on April 26 at 7pm to check out the Mel Brooks classic Blazing Saddles. And it’s totally FREE!

 

Click HERE for more information.

 

Palm Canyon Theatre

If you’re looking for live theater, don’t miss the two newest productions at the Palm Canyon Theater. Grand Hotel, inspired by Vicki Baum's period novel, tackles issues of life and death, financial ruin, love and murder, as people and come and go through the lobby of the Grand Hotel. And The Diary of Anne Frank is the true story of a young Jewish girl who kept a diary of her time hiding from the Nazis during World War II.

  • Grand Hotel, Apr 5-14
  • The Diary of Anne Frank, Apr 25-28

For more information and tickets click HERE.

 

 

Homes are Selling Faster … And Selling Prices Are Up!

For the fourth month in a row, the number of homes sold was down across all price bands and in all cities in the Palm Springs area, while inventory woes have eased a bit. There are still fewer homes on the market priced in the upper and lower price bands, but we saw a slight increase in inventory for homes priced between $500-$999,999 over the same month last year. 

 

It’s still a good market for our sellers, and good homes that are properly priced continue to sell quickly, with Days on Market down (-3.5%) to 82 days.

 

 

Trendvision’s® most recent year-over-year, February 2019 vs. February 2018 Report shows fewer homes sold in all price bands, with the biggest drop in the under $500,000 price band, a (-17.5%) drop in number of homes sold.  

 

Home sales in the $500,000-$999,999 price point dropped again this month, with (-10.6%) fewer homes selling, while the $1M+ price band saw sales fall off by (-8.2%).

 

Average selling prices rose for homes priced under $1M, while sale prices dropped (-7.1%) for homes priced $1M.

 

For more information on specific cities go to Desert Market Update, or click here for information on a specific city: Send Me A City Report.

     

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?

 

Selected Best Concerts and Live Performances In April

  

McCallum Theatre

  • Tony Danza Apr 4
  • Something Rotten! Apr 5-7
  • Steven Curtis Chapman Apr 10
  • Chris Botti Apr 12-13
  • One Night Only Apr 24

For more information and tickets click HERE.

 

Fantasy Springs

  • Ashanti & Ja Rule Apr 6

For more information and tickets click HERE.

 

Morongo 

  • Cedric the Entertainer Apr 12
  • Rodney Atkins Apr 26

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Michael Carbonaro Apr 5
  • Daniel Tosh Apr 26

For more information and tickets click HERE.

 

March 14, 2019

Homes are Selling Faster, and Selling Prices are Up!

 

For the fourth month in a row, the number of homes sold was down across all price bands and in all cities in the Palm Springs area, while inventory woes have eased a bit. There are still fewer homes on the market priced in the upper and lower price bands, but we saw a slight increase in inventory for homes priced between $500-$999,999 over the same month last year. 

 

It’s still a good market for our sellers, and good homes that are properly priced continue to sell quickly, with Days on Market down (-3.5%) to 82 days.

 

Interest rates remain stable and have stayed below 5%, which is helping the market. You can get a 30-year fixed rate mortgage at 4.5% and the FHA 30-year fixed rate is 4.0%.  If you’re financing a larger amount, the Jumbo 30-year fixed rates are 4.25% and adjustable Jumbo loans can be had for as low as 3.625%. 


 

Trendvision’s® most recent year-over-year, February 2019 vs. February 2018 Report shows fewer homes sold in all price bands, with the biggest drop in the under $500,000 price band, a (-17.5%) drop in number of homes sold.  

 

Home sales in the $500,000-$999,999 price point dropped again this month, with (-10.6%) fewer homes selling, while the $1M+ price band saw sales fall off by (-8.2%).

 

Average selling prices rose for homes priced under $1M, while sale prices dropped (-7.1%) for homes priced $1M.

 

Let’s look at the three key market indicators, Average Sold PriceNumber of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+2.7%) over the same month last year. The biggest gains were for homes priced under $1M, with sale prices of homes priced $1M+ falling (-7.1%). 
  • Number of Days on Market dropped (-3.5%) compared to February of last year, with the biggest change in the $1M+ price range where Days on Market dropped (-15.5%) over last year. Homes in the other price bands were selling quicker than a year ago as well, with Days on Market down (-2.1%) for homes priced $500,000-$999,999 and down (-2.5%) for homes priced under $500,000.
  • The Number of Homes for Sale. We continue to see the typical seasonal increase in new listings and our inventory is now very close to what is normal for this time of year, with inventory down slightly (-1.3%) over February of last year.

Current trends have us in a seller’s market in most areas, with homes selling quickly and desirable homes priced right receiving multiple offers.

 

City Standouts! What’s Up and Who’s Down?


 

Continuing our trend over the last four months, the Number of Homes Sold in February 2019 vs. February 2018 was down across the Palm Springs area. The biggest percentage drop in sales were found in Bermuda Dunes down (-36.4%), Indio down (-27.4%) and Ranch Mirage down (-23.7%). Sales remained essential flat in Palm Springs, down (-1.3%), and Palm Springs also showed the greatest price appreciation.

______________________________________________________

City Watch - Palm Springs

 

Number of Homes for Sale = 604 - Down (-7.9%)

Number of Homes Sold = 413 - Down (-1.3%)

Average List Price = $751,000 - Down (-0.5%)

Average Sale Price = $554,000 - Up (+20.2%)

Average Sale Price Per Sq. Ft. = $314 - Up (+17.2%)

Average Days on Market = 70 - Down (-11.4%)

______________________________________________________

 

The Number of Days on Market was down in about half of our cities, with homes selling fastest this month in … Cathedral City (-22.4%), Palm Springs (-18.7%), and Palm Desert (-18.3%).

 

If you'd like a detailed market report for a specific city, just click here: Send Me A City Report.

 

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?

Feb. 28, 2019

Desert Lifestyle Report - March 2019

 

It’s March Madness … desert style!  March in the Palm Springs area features signature events including the BNP Paribas Open, the La Quinta Arts Festival, Fashion Week El Paseo, along with a full schedule of live music and theater. 

 

 

BNP Paribas Open, March 4-17

 

World class tennis returns to the Indian Wells Tennis Gardens, with the BNP Paribas Open featuring most of the 75 top-ranked tennis players in the world. The tournament, which drew over 450,000 fans to the area last year, has earned the nickname “the fifth slam” and remains a favorite of tennis fans due to the fantastic weather and the state-of-the-art tennis facilities at the Tennis Gardens.  Expect to see Raphael Nadal, Roger Federer, Venus & Serena Williams, Novak Djokovic among the top players at this year’s event.

 

Click HERE for BNP Paribas Open information and tickets.

 

If you’re an art lover … you’re in for a treat with two superb weekend art festivals coming to the area. 

 

La Quinta Arts Festival, March 7-10

 

The La Quinta Arts Festival will be held on the La Quinta Civic Center Campus and the sprawling outdoor gallery has been called “the most stunning festival site in the country”. That’s high praise for a festival that includes over 200 artists displaying unique works of art in every medium and price point. The vent caters to “novice enthusiasts” as well as “sophisticated collectors” and the multi-day pass and free parking make this festival a great value. 

 

Click HERE for more information and to buy tickets.

 

Indian Wells Art Festival, March 29-31

 

The 17th Annual Indian Wells Art Festival takes place as the Indian Wells Tennis Garden is transformed into a festive artist’s village and outdoor marketplace. You’ll explore thousands of one-of-a-kind pieces of art amid live entertainment, cocktails, and a wide selection of food. Ranked as one of the 100 Best Fine Art Shows in the country, this year’s festival brings featured artist Leslee Adams — also known as The Watercolor Chef for her bold watercolors of food, landscapes & florals — to the desert. 

 

Click HERE for more information and to buy tickets.

 

Palm Desert Food & Wine Festival, March 22-24

 

Produced by Palm Springs Life magazine, this 3-day event brings many of the most prominent chefs, vintners, and brewmasters to the renowned El Paseo shopping district in Palm Desert. You’ll enjoy food from more than 30 local and celebrity chefs and over 40 local restaurants, complemented by an array of 60 amazing wines. Kick off the weekend with a James Beard gourmet 4-course luncheon, and enjoy a weekend of cooking demonstrations, food tastings, and wine & liquor tastings.

 

Click HERE for a complete schedule of events and to purchase tickets.

 

Fashion Week El Paseo, March 16-23

 

It’s time for some of the best designers to present their collections on the “Rodeo Drive of the Desert” as we prepare for El Paseo Fashion Week 2019. Enjoy fabulous runway shows, fashion demonstrations, including some of the best designers from the TV show Project Runway, and a closing night runway show by New York designer Lela Rose. If you see something you like on the runway, hit up the trunk shows with the designers the day after and be the first to own the latest designs.  

 

For a schedule of events, and to buy tickets click HERE.

 

Palm Springs Chalk Art Festival, March 16

 

Feel like a kid again … with chalk art! Stop by the 9th Annual Palm Springs Chalk Art Festival and experience top professional and student artists creating amazing creative works on the sidewalks outside the Palm Springs Art Museum. There will be hands-on activities, live music and more … and the event raises over $20,000 to benefit arts education in Palm Springs. 

 

For more information click HERE.

 

Palm Canyon Theatre

  • The Best Little Whorehouse in Texas, Now - Mar 10
  • Shakespeare in Love Mar 21-24

For more information and tickets click HERE.

 

Coachella Valley Repertory Playhouse

 

The Palm Springs area’s newest live theater venue — Coachella Valley Repertory Playhouse — opens this month in Cathedral City with a production of the musical CHESS. With music by ABBA’s Björn Ulvaeus and Benny Andersson and lyrics by Tim Rice, this Broadway musical is the perfect way to open this new venue. The theatre is housed in the former  IMAX Theater space and the newly renovated space seats 208 theater lovers for each show.

 

For more information and tickets click HERE.

 

It’s A Trend … Sales Are Down While Prices Are Up!

 

 

If three months in a row makes a trend, we have a clear new trend in our local housing market. The number of homes sold fell for the third month in a row in the Palm Springs area, and inventory is now at a 10-year low. While there are fewer homes on the market, buyer activity remains strong and that’s driving home prices up. 

 

Available inventory is down (-7.3%) over the same month a year ago, with 298 fewer homes available for sale. With fewer homes available for sale, we’re seeing a slowdown in actual home sales, with the number of homes sold down (-17.2%) over the prior January. 

 

As a result, the average selling price rose (+5.7%) to $504,000 and the average selling price per square foot rose (+7.4%) to $247. 

 

Homes continue to sell quickly, with Days on Market down (-11.4%) to 78 days.

 

 

Trendvision’s® most recent year-over-year, January 2019 vs. January 2018 Report shows fewer homes sold in all price bands, with the biggest drop in the under $500,000 price band, with a (-19.0%) drop in number of homes sold.  

 

Home sales in the $500,000-$999,999 price point dropped again this month, with (-12.9%) fewer homes selling, while the $1M+ price band saw sales fall off by (-10.2%).

 

For more information on specific cities go to Desert Market Update, or click here for information on a specific city: Send Me A City Report.

     

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?

 

Selected Best Concerts and Live Performances In March

 

McCallum Theatre

  • STOMP Mar 1-2
  • The Limeliters and The Brothers Four Mar 3
  • The Irish rovers Mar 8
  • Steve Tyrell Mar 9
  • Monty Python’s Spamalot Mar 15-17
  • Matthew Morrison Mar 21
  • Kristin Chenoweth Mar 22-23
  • Rob Lowe Mar 29
  • Savion Glover Mar 30

For more information and tickets click HERE.

 

Fantasy Springs

  • Michael McDonald Mar 1
  • Frankie Valli Mar 2
  • Terry Fator Mar 8
  • Julio Iglesias Mar 9
  • Il Divo Mar 16
  • Creedence Clearwater Revisited Mar 22
  • The Illusionists Mar 29

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Toni Braxton Mar 1
  • Jerry Seinfeld Mar 2

For more information and tickets click HERE.

Feb. 16, 2019

It’s A Trend … Palm Springs Area Sales Are Down, Prices Are Up!

 

If three months in a row makes a trend, we have a clear new trend in our local housing market. The number of homes sold fell for the third month in a row in the Palm Springs area, and inventory is now at a 10-year low. While there are fewer homes on the market, buyer activity remains strong and that’s driving home prices up. 

 

Available inventory is down (-7.3%) over the same month a year ago, with 298 fewer homes available for sale. With fewer homes available for sale, we’re seeing a slowdown in actual home sales, with the number of homes sold down (-17.2%) over the prior January. 

 

As a result, the average selling price rose (+5.7%) to $504,000 and the average selling price per square foot rose (+7.4%) to $247. 

 

Homes continue to sell quickly, with Days on Market down (-11.4%) to 78 days. 


Trendvision’s® most recent year-over-year, January 2019 vs. January 2018 Report shows fewer homes sold in all price bands, with the biggest drop in the under $500,000 price band, with a (-19.0%) drop in number of homes sold.  

 

Home sales in the $500,000-$999,999 price point dropped again this month, with (-12.9%) fewer homes selling, while the $1M+ price band saw sales fall off by (-10.2%).

 

Average selling prices rose in all price categories, with the largest percentage increase in the under $500,000 category, with a (+4.5%) increase in average selling price. The $1M+ and $500,000-$999,999 price bands saw smaller gains, with average selling prices rising by (+2.9%) and (+0.6%) respectively. 

 

Let’s look at the three key market indicators, Average Sold Price, Number of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+5.7%) over the same month last year. The biggest gains were at the low end and the high end of the market, with sale prices of homes priced $500,000-$999,999 remaining essentially flat. Interestingly, after relatively slow growth in home pricing over the last few years, appreciation of attached homes (condos) has outpaced detached homes (single family homes) over the last few months.
  • Number of Days on Market dropped (-6.9%) compared to January of last year, with the biggest change in the $1M+ price range where Days on Market rose (+51.2%) over last year. Homes in the other price bands were selling quicker than a year ago with Days on Market down (-15.8%) for homes priced $500,000-$999,999 and down (-9.4%) for homes priced under $500,000.
  • The Number of Homes for Sale. While we are seeing the typical seasonal uptick in new listings, our inventory is still below what is normal for this time of year. Inventory is down (-7.3%) over January of last year and strong buyer activity combined with inventory shortages will likely drive an ongoing shortage of desirable housing in the are for the foreseeable future.

Current trends have us in a seller’s market in most areas, with homes selling quickly and desirable homes priced right receiving multiple offers.

 

City Standouts! What’s Up and Who’s Down?


For the third month in a row, the Number of Homes Sold in January 2019 vs. January 2018 was down across the Palm Springs area. Once again, the number of homes sold was down all cities except for Coachella, which saw a (+14.3%) increase in home sales. The largest percentage drop in home sales was in Cathedral City, down (-44.1%), Bermuda Dunes down (-31.2%), and Rancho Mirage down (-28.8%).

 

When looking at Average Selling Price, most cities experienced a rise in average selling prices, with the exceptions being Indian Wells, down (-17.6%), Bermuda Dunes, down (-12.6%), and Palm Springs, down (-0.9%).  

 

The Number of Days on Market was down in about half of our cities, with homes selling fastest this month in … Cathedral City (-22.4%), Palm Springs (-18.7%), and Palm Desert (-18.3%).

 

If you'd like a detailed market report for a specific city, just click here: Send Me A City Report.

 

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?

Feb. 2, 2019

Desert Lifestyle Report - February 2019

 

Art, Architecture & Amusement ... February is Jam-Packed with Activities!

 

As we move into February, our desert hosts some of the most popular events of the season. Desert X returns after a years absence, and the Tour de Palm Springs, Modernism Week, and McCormicks’ Classic Car Auction make their annual return. And with live shows by Snoop Dogg, Marie Osmond, Jay Leno, Pitbull, & The Lettermen, and more, there's something for everybody to enjoy! So scroll down and check out all of the fabulous February activities in the Palm Springs area!

 

 

Desert X, Feb 9 - Apr 21

 

Building off the success of the initial exhibition in 2017, Desert X returns to the Palm Springs area with unique art installations on display throughout the Coachella Valley. Desert X integrates our natural landscape into the artists' works and aims to engage audiences interested in art and the environment. Details on the artists' projects and where to find them will be officially released on February 9.

 

Click HERE for more information on Desert X. 

 

Tour de Palm Springs, Feb 9, 2019

 

Calling all biking enthusiasts! It’s not too late to get in on the action! Registration is still open for the annual Tour de Palm Springs. There are four rides available for every experience level … from a short 9-mile ride to a more grueling 102-mile ride … there’s something for everyone. Proceeds from the event benefit nearly 100 local charities and you won’t find a better way to get in some exercise with fellow bikers while helping raise money to benefit the community. And if the bike ride isn’t your thing, you can always come out to cheer on the riders.

  

Click HERE for more information on bike routes and to buy tickets.

 

Modernism Week, Feb 14 - 24

 

One of the area’s premier events — Palm Springs Modernism Week — returns to the desert for 10 days this month, with over 350 events celebrating mid-century modern design, architecture, art & fashion. The event kicks off with the Modernism Show & Sale at the convention center, where you’ll find a variety of quality mid-mod furnishings and accessories available for sale. The ever-popular double-decker bus tour is back, as are the Signature Home Tours, walking neighborhood tours, and a variety of lectures and educational events. You won’t want to miss the walking tour of Sandpiper Palm Desert on Feb 21, so get online and get your tickets now.

  

Click HERE for a schedule of events and to purchase tickets.

 

73rd Annual Riverside County Fair, February 15 - 24

 

Who doesn’t like a county fair? For 73 years, locals have found the Riverside County Fair & Date Festival to be one of the best entertainment values in the area. Enjoy musical concerts headlined by country star Randy Houser, hip hop legends Salt-n-Pepa, and the ever-funky Kool & the Gang. And don’t miss some events you can only find at a county fair — bull riding, monster truck competitions, Demolition Derby, and Mini-Dwarfs Racing. (If you don’t know what that is, click HERE). The fair is a bargain, with tickets selling for only  $11.

 

For more information on the fair, and to buy tickets click HERE.

 

Art Palm Springs, February 15 - 17

 

If you’re looking for that special piece of artwork for your home, you won’t want to miss Art Palm Springs at the Palm Springs Convention Center. You’ll join over 15,000 art lovers as they appreciate post-war and contemporary art from galleries in Asia, Europe, North and South America representing hundreds of artists from around the world. The event, which kicks off with an Opening Night VIP reception, has been a draw for curators, collectors, designers and celebrities who appreciate the quality of the art presented.

 

Click HERE for more information on Art Palm Springs.

 

McCormick's Classic Car Auction, February 22 - 24 

  

Here’s your chance to check out over 550 of the coolest, most awesome, classic cars in one place. Held at the Palm Springs Convention Center, this 3-day event brings draws car lovers from all across the country. And the best thing? Admission for the first day, Friday, Feb 22, is totally FREE! Want to see some the cars coming up for auction? Check out McCormick’s Facebook page at this link:  McCormick’s Car Auction

 

Click HERE for more information on the auction.

 

 

Home Sales Down, Inventory Woes Ease, Sale Prices Continue Their Rise!

 

For the second month in a row, we’re seeing a familiar story … inventory constraints are easing slightly, selling prices are continuing their upward trend, but fewer homes are selling. 

 

Inventory, which had been down as much as (-25%) over last year, is only down (-11.1%) in the last reporting period, with 429 fewer homes available for sale. Perhaps reflecting the lack of desirable inventory, the number of homes sold was down (-21.7%) over the same month last year. 

 

At the same time, the average selling price rose (+12.4%) to $485,000 and the average selling price per square foot rose (+12.8%) to $247. 

 

Homes continue to sell quickly, with Days on Market down (-11.5%) to 77 days.

Trendvision’s® most recent year-over-year, December 2018 vs. December 2017 Report show that the largest increase in home sales last month took place $1M+ price band, with a (+5.0%) increase in the number of homes sold.  

 

Home sales in the Under $499,999 price point dropped for the second month in a row, with (-21.7%) fewer homes selling, while the $500,000 - $999,999 price band saw the largest drop in sales, a (-27.9%) drop.

 

For more information on specific cities go to Desert Market Update, or click here for information on a specific city: Send Me A City Report.

     

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?

 

Selected Best Concerts and Live Performances In February

 

 

McCallum Theatre

  • Jay Leno, Feb 2-3
  • Rent, Feb 8-10
  • Michael Feinstein w/Storm Large, Feb 15-16
  • The Lettermen, Feb 24
  • Evita, Feb 27-28

For more information and tickets click HERE.

 

Fantasy Springs

  • Marie & The Osmonds, Feb 2
  • Boyz II Men, Feb 8
  • Righteous Brothers, Feb15
  • Snoop Dogg, Feb 16
  • Pitbull, Feb 23

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Air Supply, Feb 16

For more information and tickets click HERE.

 

Morongo Casino

  • Englebert Humperdink, Feb 15

For more information and tickets click HERE.

 

Palm Canyon Theatre

  • The Best Little Whorehouse in Texas, Feb 22 - Mar 10

For more information and tickets click HERE.

Jan. 15, 2019

Palm Springs Area Home Sales Are Down, but Selling Prices Are Up

For the second month in a row, we’re seeing a familiar story … inventory constraints are easing slightly, selling prices are continuing their upward trend, but fewer homes are selling. 

 

Inventory, which had been down as much as (-25%) over last year, is only down (-11.1%) in the last reporting period, with 429 fewer homes available for sale. Perhaps reflecting the lack of desirable inventory, the number of homes sold was down (-21.7%) over the same month last year. 

 

At the same time, the average selling price rose (+12.4%) to $485,000 and the average selling price per square foot rose (+12.8%) to $247. 

 

Homes continue to sell quickly, with Days on Market down (-11.5%) to 77 days. 

 

 

Trendvision’s® most recent year-over-year, December 2018 vs. December 2017 Report show that the largest increase in home sales last month took place $1M+ price band, with a (+5.0%) increase in the number of homes sold.  

 

Home sales in the Under $499,999 price point dropped for the second month in a row, with (-21.7%) fewer homes selling, while the $500,000 - $999,999 price band saw the largest drop in sales, a (-27.9%) drop.

 

Average selling prices rose both in all price categories, with the largest percentage increase in the $1M+ category, with a strong (+23.4%) increase in average selling price. The $500,000 - $999,999 and Up to $499,999 price bands saw smaller gains, with average selling prices rising by (+1.5%) and (+4.2%) respectively. 

 

Let’s look at the three key market indicators, Average Sold Price, Number of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+12.3%) over the same month last year. The $1M+ price range saw the biggest increase, (+23.4%) over December of last year, while the under $500,000 price range saw average selling prices rise (+4.2%). Selling prices for homes priced $500,000 - $999,999 rose slightly, by (+1.5%).
  • Number of Days on Market dropped (-11.5%) overall compared to December of last year, with the biggest change in the Up To $499,999 price range, with a (-14.3%) reduction in Days on Market. Homes priced to $499,999 sold faster with Days on Market dropping (-4.3%) and homes priced $1M+ saw Days on Market drop by (-1.9%). Overall homes were selling in an average of 77 days.
  • The Number of Homes for Sale. Inventory problems are starting to ease a bit as we see more homes come on the market during season, yet inventory was still (-11.1%) lower than December 2017. Inventory shortages are hitting homes priced Up To $499,999 the hardest, with (-15.6%) fewer homes available in that price band. For homes priced $500,000 - $999,999, inventory was down (-4.8%) over the same time last year. Inventory was down (-6.6%) for homes priced $1M and above.

While inventory woes have eased somewhat, as we have seen all year, buyers have fewer homes to choose from, and sellers are finding they can command higher prices for their homes if they are in good condition and properly priced.

 

City Standouts! What’s Up and Who’s Down?

 

 

For the second month in a row, the Number of Homes Sold in December 2018 vs. December 2017 was down across the Palm Springs area. The number of homes sold was down all cities except for Coachella, which saw a (+33.3%) increase in home sales. The largest percentage drop in home sales was in Bermuda Dunes, down (-62.5%), Desert Hot Springs down (-37.3%), Indian wells down (-33.3%), and Palm Desert down (-31.7%).

 

When looking at Average Selling Price, La Quinta saw the largest percentage increase with a (+50.4%) rise in average selling prices. Palm Desert selling prices rose (+23.0%) last month and Palm Springs, Desert Hot Springs, and Cathedral City saw price increases of (+4,0%), (+3.7%), and (+3.0%) respectively. 

 

The Number of Days on Market was down across the board, with homes selling fastest this month in … Cathedral City (-26.1%), Bermuda Dunes (-23.1%), Rancho Mirage (-21.4%), and Palm Springs (-15.2%). 

 

If you'd like a detailed market report for a specific city, just click here: Send Me A City Report.

 

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?

Dec. 30, 2018

Desert Lifestyle Report - January 2019

 

Say “Good-Bye” to 2018. Get a Fresh Start! Welcome 2019!

 

It’s that time of year … we reflect on the year that was … and we look forward to the year ahead. 

 

When we reflect on our local real estate market, it’s been a fantastic year for sellers, with strong buyer activity resulting in homes selling faster and at higher prices than the year prior.  And while inventory is low, buyer’s are still finding fantastic homes at prices that make them a really good value. 

 

Our business has been strong this year  — our team successfully closed 37 transactions in 2018 for nearly $16M in sales — and we are looking forward to another busy year in 2019. We appreciate the trust our sellers and buyers have put in us, and to everyone who has referred business to us last year, we say a big “Thank You”!

 

As more people discover the beauty and active lifestyle of our many desert communities, our communities become more vibrant. Whatever your interests, you’re sure to find plenty to do as we move into the new year. January kicks off our high season with a variety of quality shows, concerts and sporting events ...  we wish everyone all the best in the coming year!

 

International Film Festival, Jan 3-14

 

Palm Springs kicks the season into high gear each year with their internationally acclaimed film festival, and the 30th year of the film festival promises to be it’s best ever! Showcasing over 200 films from 60 different countries, there’s something for everyone! And don’t miss the awards gala where award recipients, Spike Lee, Glen Close, Olivia Colman, Bradley Cooper, Rami Malek and others will grace the stage. 

 

Click HERE for the Film Festival event calendar and tickets. 

 

Sunday Polo @ Empire Polo Club, Jan 6 - Mar 31

 

It’s back! There’s nothing like a relaxing afternoon watching some the world’s best polo players at the Empire Polo Club on a Sunday afternoon. You can bring own food and beverage and tailgate, or opt for the VIP experience — for only $30 per ticket - which includes a reserved seat in the shade and available food and beverage service.

  

Click HERE for more information on the Empire Polo Club and to buy tickets.

 

Desert Classic Golf Tournament, Jan 16-20

 

The Desert Classic golf tournament — formerly known as the Career Builder — returns to the desert this month. Featuring play by some of the world’s best on the PGA West’s Stadium & Jack Nicklaus Tournament Resort Courses, and the La Quinta Country Club, this year’s event includes classic rock from Sammy Hagar on Jan 18 and Bad Company on Jan 18

 

Click HERE for more information and to purchase tickets to the tournament.

 

Salton Sea Bird Festival, Jan 19 - 20

 

Bird watching enthusiasts make note! The annual Salton Sea Bird Festival takes place this month and it’s your chance to observe many of the over 400 species of birds that make the Salton Sea their permanent or winter home! Birding is available by land or kayak.

 

Click HERE for more information.

 

Kennel Club of Palm Springs Dog Show, Jan 5-6

 

Kick off the new year with the first big dog show of the season. Featuring more than 170 AKC-recognized breeds, judging starts at 8am, admission is $10, and parking is free. Held at the Empire Polo Grounds.

 

 

For more information on the dog show click HERE.

 

Rancho Mirage Writer’s Festival, Jan 30 - Feb 1 

  

Often described as “Coachella for the Brain”, the Rancho  Mirage Writers Festival brings over 50 authors to the Rancho Mirage Library for 3 days of talks and story telling by a wide range of authors, including well known names Governor Jerry Brown, Sally Field, Susan Eisenhower, Maureen Dowd &  Tom Hanks. The event is currently sold out, but you go online to join the waitlist.

 

Click HERE for more information and to join the waitlist.

 

Guys and Dolls, Jan 18 - Feb 10

 

Set in Depression-era Times Square, Guys and Dolls is about a couple of big city gamblers and the women who love them. Catch this classic musical at the Palm Canyon Theatre.

 

For tickets to Guys and Dolls click HERE.

 

 

Home Sales Down, Inventory Woes Ease, Sale Prices Continue Their Rise!

 

December is often the slowest month for home sales in the Palm Springs area, and we experienced the typical slight downturn in sales that comes as many of our buyers turn their focus to family for the holidays.

 

Inventory constraints showed improvement for the third month in a row, with the number of homes available for sale (-8.6%) below November of last year … much lower than the (-25.0%) we had seen over the summer. The number of homes sold is down slightly (-9.1%), not unexpected for this time of year, while average selling prices rose nearly (+11.5%).

 

 

Trendvision’s® most recent year-over-year, November 2018 vs. November 2017 Report show that the largest increase in home sales last month once again took place with mid-range homes priced $500,000 to $999,999, with a (+24.8%) increase.  

 

Home sales in the Under $499,999 price point dropped by (-16.8%) while the $1M+ price band saw a (-8.6%) drop in sales, but average selling prices in both of these categories rose by (+7.1%) and (+11.9%) respectively.

 

For more information on specific cities go to Desert Market Update, or click here for information on a specific city: Send Me A City Report.

     

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?

 

Selected Best Concerts and Live Performances In January

 

 

McCallum Theatre

  • Lily Tomlin, Jan 12
  • Jersey Boys, Jan 15-20
  • Ségio Mendes, Jan 23
  • Bernadette Peters, Jan 24
  • The Wizard of Oz, Jan 25-27
  • Paul Anka, Jan 31

 

For more information and tickets click HERE.

 

Fantasy Springs

  • Back to the 90s (Vanilla Ice, Coolio, Tone Loc, C+C Music Factory), Jan 12
  • The Temptations & the Four Tops, Jan 19
  • Kenny G, Jan 25

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Burt Bacharach, Jan 12

For more information and tickets click HERE.

 

Morongo Casino

  • Bell Biv Devoe, Jan 4
  • Evelyn “Champagne” King, Jan 11

For more information and tickets click HERE.

Dec. 14, 2018

More Palm Springs Area Homes for Sale, But Sales Are Down

Home Sales Down, Inventory Woes Ease, Sale Prices Continue Their Rise!

December is often the slowest month for home sales in the Palm Springs area, and we’re starting to see the typical slight downturn in sales that comes as many of our buyers turn their focus to family for the holidays.

 

Inventory constraints showed improvement for the third month in a row, with the number of homes available for sale (-8.6%) below November of last year … much lower the the (-25.0%) we had seen over the summer. The number of homes sold is down slightly (-9.1%), not unexpected for this time of year, while average selling prices rose nearly (+11.5%).


 

Trendvision’s® most recent year-over-year, November 2018 vs. November 2017 Report show that the largest increase in home sales last month once again took place with mid-range homes priced $500,000 to $999,999, with a (+24.8%) increase.  

 

Home sales in the Under $499,999 price point dropped by (-16.8%) while the $1M+ price band saw a (-8.6%) drop in sales, but average selling prices in both of these categories rose by (+7.1%) and (+11.9%) respectively.

 

Typical seasonal changes in sales are evident. But Selling Prices Remain Strong!

 

Let’s look at the three key market indicators, Average Sold Price, Number of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+11.5%) over the same month last year. The $1M+ price range saw the biggest increase, (+11.9%) over November of last year, while the under $500,000 price range saw average selling prices rise (+7.1%). There was a slight drop (-1.5%) in average selling prices for homes priced $500,000 - $999,999.
  • Number of Days on Market dropped (-15.7%) overall compared to November of last year, with the biggest change in the $1M+ price range, with a (-42.5%) reduction in Days on Market over the same period last year. Homes priced to $499,999 sold faster with Days on Market dropping (-15.7%) and homes priced $500,000 - $999,999 saw Days on Market drop by (-17.6%). Overall homes were selling in an average of 75 days.
  • The Number of Homes for Sale. With inventory recently at a 5-year low, we’re seeing more homes come on the market, but inventory was still (-8.6%) lower than November 2017. For homes priced up to $500,000 - $999,999, inventory was about the same as this time last year. Inventory was down (-5.2%) for homes priced $1M and above and home priced under $500,000 saw inventory levels (-13.5%) below this month a year ago.

While inventory woes have eased somewhat, as we have seen all year, buyers have fewer homes to choose from, and sellers are finding they can command higher prices for their homes if they are in good condition and properly priced.

 

City Standouts! What’s Up and Who’s Down?

 

For the most part, as indicated above, the Number of Homes Sold in November 2018 vs. November 2017 were down in all but three of the cities, with an increase in the number of home sold in: Bermuda Dunes up (+60.0%), La Quinta up (+7.1%), Indio up (+3.0%). The largest percentage decline in home sales was in Coachella (-57.1%) followed by Indian Wells with a (-23.8%) decline.

 

When looking at Average Sold Price, Indian wells saw the largest percentage increase with a (+75.8%) rise in average selling prices, with Indio and La Quinta following behind with (+19.7%) and (+17.0%) increases respectively. The largest drop in average selling prices last month, for the 2nd month in a row, was Rancho Mirage with a (-19.8%) drop.

 

The Number of Days on Market was down in all but two cities, with homes selling faster this month in … Desert Hot Springs (-33.0%), Cathedral City (-16.9%), Palm Desert (-21.2%), Rancho Mirage (-19.3%), Indian Wells (-42.6%), La Quinta (-9.0%), Indio (-7.2%), Coachella (-52.5%). Bermuda Dunes and Palm Springs saw  increases in time to sell of (+64.2%) and (+1.1%) respectively.

If you'd like a detailed market report for a specific city, just click here: Send Me A City Report.

 

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?

Nov. 29, 2018

Desert Lifestyle Report - December 2018

It’s the Holidays -- Celebrate with Family & Friends in Stunning Palm Springs!

   

   

If you’re staying at home in Palm Springs for the holidays, just visiting friends or family, or getting away from it all for the holiday season, local entertainment, festivals, and events are rampant and ready for you to participate! It really is the most wonderful time of the year in Palm Springs during the holidays, with many different Christmas concerts and famous personalities visiting to make your holidays merry and bright.

 

If you’re into shimmering lights, we have a few fantastic shows you’ll want to view, as well as arts festivals, holiday festivals, food festivals, and sporting events. Grab that special someone or book some tickets while family and friends visit to celebrate the tastes, sights, and sounds of an amazing holiday season.

Robolights, Nov 22-Jan 8

Artist Kenny Irwin, a local Palm Springs artist, created Robolights -- a unique and vast display of thousands of holiday lights with magical art installations included. Robolights cover acres of land and eclectic art abounds. Open from Nov 22nd, 2017 through Jan 8th, 2018, 4:00 P.M. to 9:30 P.M. This event is free, and runs from 6-10 PM.

     

Get Details on Robolights Here

        

Candy Cane Lane, Nov 22-Jan 1

     

Cathedral City’s famous Candy Cane Lane is located on Minerva Road and runs from the last week of Nov to Jan 1. It’s free to walk around the neighborhood and view 50 different homes decorated with lights.

Click Here For Info on Candy Cane Lane

   

Festival of Lights Parade, Dec 1

The Festival of Lights Parade feares lighted floats, bands, autos, equestrians, and celebrities for your entertainment. This is a top-rated, fun-filled event for you, your family, and your friends to experience this holiday season. The event is free, and it runs through Palm Canyon between Ramon Road and Tamarisk in downtown Palm Springs from 5-8 PM.

     

Learn More About the Festival of Lights

        

Walk of the Inns, Dec 13

Walk of the Inns happens on Palm Canyon Drive, and starts at the art museum, where you can drop off unwrapped toys for Toys for Tots and Well in the Desert. At the museum, grab a map and a tiny flashlight to guide your way down Ramon Road and Tahquitz Canyon Way. The tour takes your past Palm Springs’ 100-year-old historic inns and boutique hotels, as well as mid-century and historical architecture. This event is free and runs from 5-8 PM.     

Get More Info on The Walk of the Inns

        

Desert Arts Festival, Dec 8 & 9

     

The Desert Arts Festival features local and national artists presenting work in fine art, painting including acrylic, oils, and watercolor, and photography. You will also find etchings and clay, glass, metal, wood, and stone sculptures. The event is free, located at 538 N. Palm Canyon Drive, and runs from 10 AM on Saturday to 5 PM on Sunday.

     

Find Out More About the Desert Arts Festival

        

Indio International Tamale Festival, Dec 1 & 2

If snacking is more your style, check out the Indio Tamale Festival, running Saturday 10-6 and Sunday 10-5. This festival was voted a one of Food Network’s top 10 food festivals, and features Mr. Tamale. The festival is free, and carnival tickets cost $25 per wristband for unlimited rides or $1.30 for one ticket. The carnival runs Nov 30, 5-10; Dec 1, 10 AM-10 PM; and Dec 2 10 AM-6 PM.

     

Get Details on the Tamale Festival

 

Hairspray at Palm Canyon Theatre, Nov 30-Dec 16

This musical classic is a Palm Springs favorite featuring the raucous adventures of 1963 teenage girls Tracy Turnblad and Penny Pingleton. The show runs from Friday, Nov 30 to Sunday Dec 16, with shows at 2, 7, and 8 PM. Tickets are $32-36.

     

Get Your Tickets to Hairspray Here

 

Wildlights at The Living Desert, Nov 23-Dec 24

The Living Gardens is a fun family destination in Palm Springs, and features Wildlights from November through December running from 6-9 PM. Adult tickets are $12; members, children over three, and military members and veterans are $10 with I.D. Children under three are free.

     

Check Out Wildlights Here

 

Ironman 70.3 at the Indian Wells La Quinta, Dec 9

For something completely different, the Ironman 70.3 competition is the way to go. You can participate or just observe the athletes at the first-ever Indian Wells La Quinta Ironman event. There are 30 qualifying slots for the 2019 World Championship in Nice, France. General entry for competitors ranges from $275-$425, and spectator VIP tickets range from $50 to $200, with discounts offered for parties of 5 or more.

     

Get more Info on the Ironman Here

Palm Springs Area Home Prices Continue to Rise!

Inventory Constraints Continue to Ease, Sale Prices Continue to Rise

As we enter into our busiest time of year, we are seeing modest improvement in inventory levels, solid sales numbers, and a continued rise in average sale price. Inventory constraints showed improvement this month, with the number of homes available for sale (-13.3%) below October of last year. That number is an improvement over the (-15%) we experienced the prior month. At the same time, the number of homes sold remained stable, while average selling prices rose nearly (+8%).

Trendvision’s® most recent year-over-year, October 2018 vs. October 2017 Report show that the largest increase in home sales last month once again took place with mid-range homes priced $500,000 to $999,999, with a (+15.9%) increase.  Home sales dropped slightly in the Under $499,999 price point, but average selling prices in both of these categories rose last month.

Homes in the $1M+ price range saw a (+8.3%) increase in number of homes sold and a substantial drop in the number available for sale, down (-15.3%), while average selling price remained virtually the same as the same time last year.

Low Inventory Eases yet Homes Are Selling Quicker. Our Local Market Stays Strong!

Let’s look at the three key market indicators, Average Sold Price, Number of Homes for Sale, and Number of Days on Market, for a good snapshot of the Palm Springs area real estate market and, its overall health.

  • Average Home Sold Prices rose overall in the Palm Springs area by (+8.1%) over the same month last year. The under $500,000 price range saw the biggest increase, (+6.9%) over October of last year, and the $500,000-$999,999 price range saw average selling prices rise (+3.0%). 
  • Number of Days on Market dropped (-13.5%) overall compared to October of last year, with the biggest change in the $500,000-$999,999 price range, with a (-23.7%) reduction in Days on Market over the same period last year. Homes priced $1M+ took longer to sell, with Days on Market rising by (+34.8%) to 151 days.
  • The Number of Homes for Sale, recently at a 5-year low, was (-13.3%) lower than October 2017. For homes priced up to $499,999, inventory was (-17.9%) lower than last year, and buyers looking in this price range are finding it challenging to find good properties that meet their needs.

While inventory woes have eased somewhat, as we have seen all year, buyers have fewer homes to choose from, and sellers are finding they can command higher prices for their homes if they are in good condition and properly priced.

     

For more information on specific cities go to Desert Market Update, or click here for information on a specific city: Send Me A City Report.

     

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?

     

The Hamilton Real Estate Group. Experience the Difference!

     

Selected Best Concerts and Live Performances In December

Fantasy Springs Resort

Tony Orlando, Dec 1

Tony Bennett, Dec 7

Paulina Rubio, Dec 15

Brian Setzer Orchestra, Dec 21

     

For more information and tickets click HERE.

 

McCallum Theatre

Lyle Lovett, Dec

Rita Rudner, Dec 9

LeAnn Rimes, Dec 15

The Nutcracker, Dec 178

Dave Koz, Dec 18

     

For more information and tickets click HERE.

 

Agua Caliente Casino, Resort & Spa

José Feliciano, Dec 6

Penn & Teller, Dec 7

Barry Manilow Christmas, Dec 15-16

     

For more information and tickets click HERE.