March 15, 2024

Home Sales Accelerate as Inventory Stabilizes in the Coachella Valley

 

The Coachella Valley real estate market in February 2024 continues to show strength, with increased homes sold, rising inventory levels, and increasing median and average sale prices. The market conditions remained balanced, with stable average days on market and a consistent sales price/list price ratio, pointing to a predictable environment for buyers and sellers.

 

SALES TRENDS

Number of Homes Sold

In a continuing trend over the last few months, the number of homes sold in February 2024 rose to 546, marking a 20.0% increase from the preceding month and an 11.43% rise compared to February 2023. This level of sales activity demonstrates a continued robust demand for local housing.

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Feb. 27, 2024

March Celebrates Sports, Fashion, and Art in the Coachella Valley

 

The Coachella Valley offers a diverse lineup of events in the coming weeks. There's something for everyone from the prestigious BNP Paribas tennis tournament to Fashion Week El Paseo, Palm Desert Food and Wine Festival, Amdocs Film Festival, and the Galleri Classic golf tournament. Art enthusiasts can explore exhibitions at various venues, and you’ll find various comedy shows, music performances, and theater productions. Whether you're exploring local treasures or enjoying world-class events, there's something for every taste this month.

 

EVENTS

 

BNP PARIBAS: MAR 3-17

 

The BNP Paribas tennis tournament returns to the Indian Wells Tennis Garden and will feature a player field of 96 players. Enthusiasm is high as we expect to see returning champ Carlos Alcaraz defend his title while Raphael Nadal and Novak Djokovic are expected to be big draws. Elena Rybakina will defend her title with Coco Gauff and Venus Williams bringing much interest. Fans can enjoy various onsite services, including watching player practices, exploring interactive maps, and experiencing world-class entertainment options. 

 

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

 

FASHION WEEK EL PASEO: MAR 15-21

 

Fashion Week El Paseo celebrates its 17th year as the West Coast's largest consumer fashion show. This premier event offers an immersive fashion experience featuring leading and emerging designers, cocktail receptions, pop-up shops, celebrity meet-and-greets, and more. With a schedule of events showcasing renowned designers like Max Mara and LeonLeon, Fashion Week El Paseo promises a week filled with glamour, creativity, and innovation.

 

For more information and to purchase tickets, click HERE.

 

PALM DESERT FOOD AND WINE - MAR 21-24

 

The Palm Desert Food and Wine event promises a delightful culinary experience with unique offerings prepared by talented chefs. Attendees will enjoy the James Beard Gourmet Four-Course Luncheon, Grand Tastings, Celebrity Chef Reception, Sunday Brunch, and more. The festival aims to bring together food and wine enthusiasts for a weekend filled with exquisite flavors and experiences.

 

For more information, click HERE.

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Feb. 17, 2024

More Homes for Sale and Higher Prices in the Coachella Valley

 

As the new year started, our local real estate scene continued to exhibit remarkable strength, with positive movements noted in essential metrics such as the number of sales, available properties, and sale prices. Is this a good time to buy or sell a home in the Coachella Valley? Let’s find out!

SALES TRENDS

NUMBER OF HOMES SOLD

In January 2024, the Coachella Valley saw a total of 453 properties sold, a significant increase of 4.38% from the previous month and an impressive 30.92% surge from January 2023. This upward trend in sales volume shows a growing buyer interest and confidence in our market.

INVENTORY OF HOMES FOR SALE

The number of properties for sale increased, totaling 2,443 units in January 2024. This represents a growth of 5.62% from December 2023 and a slight elevation of 2.22% compared to January 2023. The increase in available properties offers a broader selection for potential buyers, reflecting a balanced market with opportunities on both ends of the transaction.

MEDIAN AND AVERAGE SALE PRICE

The pricing landscape in January 2024 presented a mixed yet optimistic outlook. The median sales price remained steady at $575,000, aligning with the previous month's figures but reflecting a slight drop of -5.74% from January 2023. Despite this moderation, the average sales price soared to $902,380, up by a remarkable 20.48% from the preceding month and 3.41% year-over-year. This peak in average price likely signifies an increase in the sale of homes in our luxury market and marks the highest level compared to the same period in the previous two years.

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Jan. 30, 2024

From Modernism to Music: February's Can't-Miss Coachella Valley Events

 

 

February in Palm Springs is packed with a variety of events for everyone. Modernism Week celebrates midcentury design, while the Riverside County Fair & Date Festival offers fun for the whole family. The Palm Springs Pinot Noir Festival appeals to wine lovers, and the Dr. George Charity Car Show is a must-see for car enthusiasts. Music, comedy, and the Taste of Jalisco Festival add to the mix, providing entertainment and cultural experiences. This month is all about enjoying diverse activities in Palm Springs.

 

EVENTS

 

MODERNISM WEEK: FEB 15-25

 

Modernism Week in Palm Springs is set to be an 11-day festival showcasing over 350 events dedicated to celebrating midcentury modern architecture, art, interior and landscape design, and vintage culture in the Palm Springs area. Highlights include the Palm Springs Modernism Show featuring 130 dealers, CAMP (Community and Meeting Place), tours of iconic homes in more than 30 neighborhoods, double-decker architectural bus tours, and the famous Signature Home Tour on both weekends.

 

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

 

RIVERSIDE COUNTY FAIR & DATE FESTIVAL: FEB 16 - 25

 

The Riverside County Fair & Date Festival 2024 offers a variety of events and activities for visitors to enjoy. Some highlights include live music performances from Smash Mouth, Diamond Rio, and Natasha Bedingfield, a monster truck show, cowboys and cowgirls competing in a rodeo, and a demolition derby. The 10-day event is packed with family-friendly activities, ensuring a memorable experience for all ages.

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For more information and to purchase tickets, click HERE.

 

DR GEORGE CHARITY CAR SHOW - FEB 10

 

The 2024 Dr. George Charity Car Show is a premier automotive event at the Indian Wells Tennis Garden. This spectacular show features over 1,000 cars, trucks, and motorcycles from various eras and styles spread across an 18+ acre lawn. The event supports the Desert Cancer Foundation, providing financial assistance to those in need in the Coachella Valley. Attendees can enjoy live entertainment, a raffle, a silent auction, food trucks, and a Kids Pedal Car Race.

 

For more information, click HERE.

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Jan. 15, 2024

Coachella Valley Sees Rising Property Values and Balanced Market Conditions

 

The Coachella Valley real estate market in December 2023 showcased a blend of stability and growth. With a consistent sales volume, a balanced inventory, appreciating property values, and a stable days on market, the region remains an inviting and reassuring landscape for real estate activities. As we move forward, this market is poised to offer diverse opportunities for buyers, sellers, and investors alike.

 

SALES TRENDS

 

Number of Homes Sold

In December 2023, the Coachella Valley witnessed the sale of 429 properties, mirroring the previous month's sales volume and marking a 6.45% increase from December 2022. This steady sales pattern indicates a resilient market reflecting a balanced demand compared to previous years.

Inventory of Homes for Sale

The number of homes available for sale in December 2023 stood at 2,176, which is a decrease of 10.23% from the previous month and marginally lower by 1.40% compared to December 2022. This inventory level suggests a stable market, neither heavily favoring buyers nor sellers.

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Dec. 30, 2023

Film Festival, Golf Pros, Surfing, Ice Skating & More in the Coachella Valley

 

 

As the new year begins in the Coachella Valley, it is bustling with activity. Our winter visitors are returning and settling into their desert homes, and we have a variety of activities that will appeal to snowbirds and locals alike. With a major film festival, our first pro golfing tournament of the year, and a range of other exciting activities on the horizon, the valley is primed to offer something for every interest!

 

EVENTS

 

PALM SPRINGS INTERNATIONAL FILM Festival: JAN 4 - 15

 

The 35th annual Palm Springs International Film Festival is set to take place, featuring 179 films from 74 countries, including 47 premieres. The A-list stars will walk the red carpet for the Film Awards ceremony on Jan 4, and the festival will open with the U.S. premiere of Thea Sharrock’s "Wicked Little Letters" on January 5 and close with "Ex-Husbands," directed by Noah Pritzker on January 13. A special section titled Spotlight will honor veteran writer, director, and producer James Ivory with a showcase of his films.

 

For screening schedules and to buy tickets, click HERE.

 

THE AMERICAN EXPRESS: JAN 15 - 21

 

The 2024 American Express golf event in La Quinta will feature top golfers, including World No. 1 Scottie Scheffler, Patrick Cantlay (World No. 5), Xander Schauffele (World No. 6), Tom Kim (World No. 11), and Tony Finau (World No. 21) among the 156 professional golfers participating in the tournament. The tournament promises an exciting blend of professional golf, entertainment, and community engagement, with daily passes starting at $60 and including access to free concerts by Keith Urban and Train.

 

For more information and to purchase tickets, click HERE.

 

Southwest Arts Festival - Jan 25 - 28

 

The Southwest Arts Festival — held at the Empire Polo Club in Indio — features a diverse range of traditional, contemporary, and abstract fine works of art, along with jewelry and quality crafts. Attendees can look forward to live music and captivating displays of pottery, glass, and fine art painting. The festival is known for its first-class quality and is one of the country’s finest juried art festivals. Discounted admission rates are available for seniors. 

 

For more information, click HERE.

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Dec. 17, 2023

Coachella Valley Real Estate Becomes More Buyer-Friendly!

   

The Coachella Valley real estate market is experiencing a subtle shift, as evidenced by the latest statistics showing an increase in home listings, a decrease in sales, and a slight increase in average selling prices. While this year-over-year and month-over-month analysis highlights a gradual move towards a market more favorable to buyers, there are still opportunities for sellers. Good homes in desirable locations are still selling, but strategic pricing and effective marketing are now more important than ever in getting a home sold. Let’s dive into the numbers and see how the market is shaping up.

Year-over-Year Comparison: November 2022 vs. November 2023

 

Homes for Sale:  The number of homes for sale increased from 2,235 in Nov 2022 to 2,332 in Nov 2023, marking a 4.3% rise. This modest increase in inventory offers more choice for buyers compared to the previous year, while still being favorable to sellers as this number is almost 1/2 of what is normal for this time of year.

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Nov. 29, 2023

Celebrate The Holidays in The Coachella Valley

 

Experience the magic of the holiday season in the Coachella Valley.  From the dazzling lights at the Indio International Tamale Festival to the stylish Men Of The Desert Fashion Show, and the exhilarating Ironman Indian Wells-La Quinta race, the valley is bustling with celebrations for everyone. Discover unique ways to enjoy the holidays, whether it's through participating in the Palm Springs Santa Paws 5K, enjoying a hockey game, or being mesmerized by the WildLights at The Living Desert.

 

THINGS TO DO

 

Indio International Tamale Festival: Dec 2 & 3

 

Celebrate the rich cultural heritage of tamales at the Indio International Tamale Festival at Miles Avenue Park in Indio. This festival has been a vibrant showcase for various tamale styles, flavors, and cooking techniques, attracting visitors from far and wide. Festival-goers can indulge in various tamale varieties and enjoy live music and entertainment, making it a perfect event for families and food enthusiasts.

 

For more information, click HERE.

 

Men Of The Desert Fashion Show: Dec 3

 

The Men Of The Desert Fashion Show at the Palm Springs Air Museum is a glamorous event that combines high fashion with charitable causes. This event features a unique fashion show spotlighting men's fashion, with proceeds typically supporting local charities. It's a stylish and meaningful way to spend your day in Palm Springs, showcasing the latest trends in men's fashion while contributing to a good cause.

 

For more information and to purchase tickets, click HERE.

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Nov. 16, 2023

More Homes For Sale In The Coachella Valley in October!

   

The latest statistics on our local real estate market reveal stability in the number of homes for sale, a decline in home sales, and a drop in average selling prices, indicating a subtle shift towards a buyer-friendly market. Buyers have slightly more options and negotiating power, while sellers are advised to price strategically in a competitive environment. Let’s take a look at the latest numbers.

Year-over-Year Comparison: October 2022 vs. October 2023

 

Homes for Sale: There was virtually no change in the number of homes for sale, with a negligible 0.1% decrease from October 2022 to October 2023 (1,910 to 1,909 homes). This stability in inventory suggests a balanced market, neither veering towards a buyer's nor a seller's market in terms of available choices.

Homes Sold: Sales volume saw a more noticeable change, with a 5.2% decrease in homes sold year-over-year (from 446 to 423). This decline could indicate a slight cooling in market activity, primarily due to continued high interest rates and lower-than-normal inventory.

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Oct. 30, 2023

Wine, Brew, Classic Cars, Pride and More in Palm Springs

 

The Coachella Valley is a vibrant and diverse area with many activities and events for visitors and residents alike. Just take a look at all of the activities planned for November! Something exciting is always happening in our desert oasis, from food and wine festivals to craft beer tastings, classic car auctions, and a pride parade. Whether you're a food and wine connoisseur, a craft beer enthusiast, or a classic car lover, you will surely find something interesting to do.

 

THINGS TO DO

 

Palm Springs Food & Wine Festival - Nov 11-12

 

This international event offers a unique and unforgettable wine & food experience. The festival showcases the hip, cool, and cutting-edge of the food and wine scene, with a focus on local and sustainable offerings. In addition to wine, the event features a variety of food options, including gourmet bites from top local chefs, food trucks, and pop-up restaurants. The festival also offers cooking demonstrations, wine seminars, and live music, making it a must-attend event for food and wine enthusiasts.

 

For more information, click HERE.

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