May 3, 2020

Desert Lifestyle Report - May 2020

May Brings Social Distancing, Awesome Take-Out,

and Event Rescheduling!

 

With COVID-19 bringing our world to a virtual standstill, April resulted in much confusion and uncertainty across the country. It was a little less “intense” here in the Palm Springs area, but the effects of the coronavirus have been felt widely across the Coachella Valley. 

 

Governor Newsom’s “shelter-in-place” order has resulted in quite a few adjustments to how we live our daily lives with major event cancellations and the shutdown of "non-essential" businesses. But one thing has not changed … the natural beauty of the desert and the easy lifestyle … it’s all still here. 

 

 

           

Some “Shelter-in-Place” Restrictions Eased

Recent county restrictions over some outdoor activities have been eased, allowing for some options to get out of the house safely. Golf courses have reopened, as have tennis courts and pickleball courts. Swimming pools are open, with restrictions on occupancy. And of course, hiking and biking are still popular options for getting exercise and keeping mentally healthy. Masks are no longer “required” but should always be worn any time you are in close proximity to others. 

 

Click HERE for up-to-date COVID-19 news for Riverside County.

 

Restaurant Takeout Month

   

A lot of us have grown weary of coming up with a dinner menu night after night. Well here’s a solution to add a little variety into your menu! Palm Springs Life magazine is celebrating May as "takeout month" by providing access to some of the best takeout menus across the Coachella Valley in one place. It's easy ... just click on the link below, click on your city, and, voila, you’ll find some of the best restaurants in the area that are offering takeout. 

 

Click HERE for menus of participating restaurants.

 

           

McCallum Theatre 2020-2021 Season   

This year’s season at the McCallum Theatre was cut short due to the outbreak of COVID-19, but you can start planning for their fabulous 2020-2021 season right now.  There are some great shows planned, including country star Leanne Rimes, comedienne Paula Poundstone, The Lettermen, Tony award-winner Patti LuPone, the Broadway musical Jersey Boys, and one of my favorites, Storm Large. So check out the full schedule at the link below as tickets are on sale now!

 

Click HERE for information on shows and to purchase tickets.

           

Rescheduled Shows

   

Several shows that were planned for the 1st half of the year have now been rescheduled for a later date. We’ll keep you updated as our local entertainment schedules evolve over the coming months to make sure you don’t miss any great shows coming to the area.

  • Nora Jones and Mavis staples - new date TBD
  • Gladys Night  - new date TBD
  • Chaka Khan - new date July 4
  • Kenny G - new date Sep 11
  • Pitbull - Postponed
  • The Stylistics w/Peaches and Herb - Postponed
  • Flo Rida - new date Oct 2 

Hiking & Biking

   

One of the best things you can do right now is get outdoors …safely. You should always carry a mask, and put it on if you are around others, but getting outside is good for your physical and mental well being. And given that summer has arrived early, you’ll probably want to get out early in the morning or later in the evening. Below is some good information on biking and hiking in the area.

 

Click HERE for information BIKING in Palm Springs.

 

Click HERE for information on HIKING in Palm Springs.

 

Volunteer 

There are a lot of people in need of assistance, and if you’re able and willing, there are many opportunities to volunteer! There are many local volunteer opportunities, both medical and non-medical, in the area, and you can click the link below to register your availability for a variety of volunteer opportunities.

 

Click HERE to find volunteer opportunities in Riverside County.

 

 

The Palm Springs area real estate market is dynamic, and always changing, especially during the COVID-19 pandemic. We found that our normally monthly updates just aren’t cutting it ... our clients need real-time information to gauge where this market is heading.

 

As a result, we started The Monday Minute to provide a quick snapshot of the numbers each week ... how many new homes were listed, how many new escrows were opened, how many homes were pulled off the market, and what’s happening with price reductions. 

 

The Monday Minute is a brief weekly video update … get the latest market update here every Monday and find out how many homes were listed for sale, how many went into escrow, and much more at this link: www.TheMondayMinute.com

   

To view our most recent full market report, click here: 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?

 

May 3, 2020

The Monday Minute - May 4, 2020

 

As we start our third week of tracking weekly real estate stats for the Palm Springs area, we can now start tracking trends to get a better read on how our local real estate market is being impacted by COVID-19. 

So check out the charts below to monitor weekly trends. Find out if buyers are still buying, if prices are being reduced, and more. We will update these charts every Monday to make sure you have the most up-to-date and accurate information on our market, so stop by each week for the latest update.

April 29, 2020

The Monday Minute - April 27, 2020

 

With our second Monday Minute we compare our stats to last week as we start to track trends in the area. Although it's still too soon to derive any meaningful trends in the market, we can start to track buyer activity and closings in the Palm Springs area.

April 29, 2020

The Monday Minute - April 20, 2020

 

The Palm Springs area real estate market is dynamic, and always changing, especially during the COVID-19 pandemic. We found that our normally monthly updates just aren’t cutting it ... our clients need near-realtime information to gauge where this market is heading.

As a result, we started The Monday Minute to provide a quick snapshot of the numbers each week ... how many new homes were listed, how many new escrows were opened, how many homes were pulled off the market, and what’s happening with price reductions. Get the latest market update here every Monday and find out how many homes were listed for sale, how many went into escrow, and much more.

April 15, 2020

Price Gains Continue Driven By Low Inventory in the Palm Springs Area

Home sales in the greater Palm Springs area continued to show strength last month, although it's too soon to tell how much impact the Coronavirus will have on sales going forward.  Compared to the same month last year, we've seen a slight decrease in the number of homes sold ... in March a total of 915 homes were sold, a -7.8% decrease over the number sold last March.

 

There were 5,045 homes available for sale in March 2019, and this month there are 3.992 homes available for sale … a noticeable (-20.9%) decrease in available housing over that period! Low inventory continues to be a problem here in the Palm Springs area, and I would anticipate that we'll see the number of homes available for sale go even lower as we move into the summer selling season. 

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The Monday Minute   

Given that everything in the world seems to be changing daily, we will be giving a brief weekly update on the local real estate market every Monday. You can find The Monday Minute each week at this link: The Monday Minute.

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The low inventory has been pushing home prices higher for most cities, with the median sale price for detached homes (single-family) up (+4%) over the same month last year, while the median price for attached homes (condos) was up (+1.7%).

 

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 Sale Prices. The average home sale price last month in the Palm Springs area was $521,398 a decrease of (-2.22%) over the same month last year.  
  • Number of Days on Market. Days on market have decreased (-2.5%), homes are selling fast for an average of 79 days.
  • The Number of Homes for Sale. There were 3,992 homes for sale last month, a (-20.9%) decline over March of last year. Inventory remains below average, and we're entering what is traditionally the time of year with the fewest homes on the market. I anticipate that the summer selling season will see a further drop in inventory due to Coronavirus concerns. 

Interest rates continue to be very attractive and that will continue to drive new purchases and refinance activity. Conforming 30-year fixed-rate mortgages rates have dropped to 3.375% and the FHA 30-year fixed rate stands at 3.375% as well. 30-year fixed Jumbo loans are now offered at 4.375% 

 

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

 

All but three of our cities experienced a decrease in the number of homes sold last month. Increases in sales were led by Bermuda Dues (+36.5%), followed by La Quinta (+11.5%) and Desert Hot Springs (+7.3%). Coachella and Indian Wells saw the largest drop in the number of homes sold, with  (-43.7%) and  (-23.7%) drops respectively.


 

When it comes to Average Selling Prices, about half of our cities saw price increases, with Rancho Mirage showing a healthy (+26%) increase over last March solds. Palm Desert, Bermuda Dunes, Indian Wells, Indio and La Quinta experienced decreases in average sold price percentages, with the larges drop in average sale prices in Indian Wells (-25%).

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City Watch - Palm Desert 

 

Number of Homes for Sale = 852  (-19.6%)

Number of Homes Sold = 208  (-4.6%)

Average List Price = $742,244 (+7.3%)

Average Sale Price = $452,441 (-14.5%)

Average Days on Market = 71 (-14.5%)

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The Number of Days on Market decreased for most of the cities in the Coachella Vally, with homes taking longer to sell last month in Palm Springs (+1.6%), Cathedral City (+31.5%), and Rancho Mirage (+13.4%). 

 

If you're considering putting your home on the market, let us help you get it SOLD! 

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 15, 2020

Strong Sales & Price Gains Continue in the Palm Springs Area

Home sales in the greater Palm Springs area continue to show strength when compared to the same time last year. We've seen an increase in the number of homes sold each of the first three months of the year, and in February a total of 787 homes were sold, a 16.6% increase over the number sold last February. 

 

Buyer activity continues to be strong, even though available inventory continues to be running well below last year.  At the risk of sounding like a broken record, we continue to see fewer homes for sale, making it a challenge for our buyers to find that perfect home.

 

There were 5,063 homes available for sale in February 2019, and this month there are 4,113 homes available for sale … a noticeable (-18.8%) decrease in available housing over that period!

 

The low inventory is continuing to push home prices higher …  the median price for detached homes (single-family) was up (+8.4%) over the same month last year while the median price for attached homes (condos) was up (+1.8%).

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 Sale Prices. The average home sale price last month in the Palm Springs area was $550,935 an Increase of (+10.5%) over the same month last year.  
  • Number of Days on Market. Days on market remain constant, with homes selling in an average of 77 days.
  • The Number of Homes for Sale. There were 4,113 homes for sale last month, a (-18.8%) decline over February of last year. While inventory remains below average, if past trends continue we'll see more homes come on the market over the coming months.

Interest rates continue to be very attractive and that will continue to drive new purchases and refinance activity. 30-year fixed-rate mortgages are remaining steady at 3.375% and the FHA 30-year fixed rate stands at 3.375%. If you’re financing a larger amount, the Jumbo 30-year fixed-rate is still attractive at 3.5% and the Jumbo 5-year ARM is 3%.

 

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

 

Most of our cities once again experienced an increase in the number of homes sold, led by Coachella (+50%), Bermuda Dunes (+43%) and Indio (+40%). Palm Springs and Desert Hot Springs saw home sales drop  (-5.5%) and  (-17%) respectively.

 

 

When it comes to Average Sale Price, Bermuda Dunes led the pack with a strong (+56%) increase over last February, followed by Palm Desert (+39%) and Desert Hot Springs (+21.7%). Only Rancho Mirage, Indian Wells and La Quinta experienced decreases in average selling price percentages.

 

The Number of Days on Market decreased for about half the cities in the Coachella Vally, with homes taking longer to sell last month in Palm Springs (+42.6%), Cathedral City (+23.6%), and Indian Wells (+19.6%). 

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City Watch - Cathedral City 

 

Number of Homes for Sale = 250  (-817.2%)

Number of Homes Sold = 60  (+5.3%)

Average List Price = $359,294 (+12.2%)

Average Sale Price = $359,010 (+17.9%)

Average Days on Market = 68 (+23.6%)

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If you're considering putting your home on the market, let us help you get it SOLD! 

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 1, 2020

Desert Lifestyle Report - March 2020

 

March in Palm Springs Features Art, Fashion, Tennis and Live Theater!

 

March in Palm Springs brings a little something for everybody! Whether you love world-class tennis, documentary films, food and wine, shopping for fine art, or live theater, you’ll find something of interest.

 

And we have some great live shows this month featuring Chaka Khan, Frankie Vallie and the Four Seasons, The Stylistics, Ricky Skaggs, Pink Martini, and more. 

 

La Quinta Art Celebration, Mar 5-8

   

La Quinta, a city renowned for its commitment to the arts community, has hosted an annual art event of national importance since 1982. This year will be no different as La Quinta debuts its new signature art event at the La Quinta Civic Center Campus. Showcasing over 200 world-class artists from around the world, you’ll find superb works in 12 media categories including Painting, Sculpture, Glass, Ceramics, Jewelry, Photography, Fiber, Wood and Mixed Media. 

 

Click HERE for information on the event.

 

BNP Paribas Open, Mar 9-22

   

It’s time for some of the world’s best tennis players to return to the desert for the BNP Paribas Open at the beautiful Indian Wells Tennis Garden. This year’s event features the 75 top-ranked WTA and ATP singles players, including nine former champions. Here’s your chance to see Novak Djokovic, Roger Federer, Bianca Andreescu, Rafael Nadal, Serena Williams, and many more of the best players in tennis. The event includes a kid's day, player autograph signings, and a variety of live shows on the Village Stage.  

 

Click HERE for information on the event and to purchase tickets.

 

Fashion Week El Paseo, Mar 20-27

   

Celebrate 15 years of style at the largest fashion show on the west coast … Fashion Week El Paseo. You’ll experience the world of fashion New York style with an inspiring, immersive fashion experience featuring cocktail receptions, trunk shows, celebrity meet-and-greets, and more.  The opening night show features “Trina Turk at 25” and the always-popular local designer and Project Runway star Michael Costello brings his crowd favorites to the runway later in the week.

  

Click HERE for information on the event and to purchase tickets.

 

American Documentary Film Festival, Mar 27-31

   

The 9th annual American Documentary and Animation Film Festival (AmDocs) was named one of the Top 25 Film Festivals in the World, one of the 25 Coolest Film Festivals in the World, and one of the 5 Coolest Documentary Film Festivals in the World! Showcasing over 250 films from 37 countries, including 61 world premiers, the opening night features the environmental documentary “Planet of the Humans”

 

Click HERE for information on the screenings and to purchase tickets.

 

Palm Desert Food & Wine Festival, Mar 27-29

   

Organized by Palm Springs Life Magazine, this annual festival features 30 of the country’s best chefs for three days of culinary and wine tastings in the heart of El Paseo. You’ll experience food from 40 fine dining restaurants, food tasting booths, celebrity chefs on three stages, and premium wine and liquor tastings. 

 

Click HERE for information on the event and to purchase tickets.

 

Theater Events

 

Sordid Lives, Palm Canyon Theatre, Mar 26-29

 

The tag line for Del Shores’ best know work is “A black comedy about white trash”. This is a story of unconditional love, acceptance and "coming out" in a Texas family, as they all converge for the matriarch's funeral. It’s twisted and guaranteed to make you laugh!

 

Click HERE for more information and to purchase tickets

 

The City of Conversation, CVRep, Mar 11-29

Winner of the 2015 Outer Critics Circle Award for Best Off-Broadway Play, is a fascinating and timely look at family politics through a family in politics, set in 1979 Washington, D.C.

 

Click HERE for more information and to purchase tickets

 

The Producers, Desert TheaterWorks, Mar 13-29

 

Desert TheaterWorks brings Mel Brooks’ most successful production to the stage this month. The story of a fading Broadway producer who aims to produce the worst musical to run on Broadway, then finds his show to be a huge hit. This stage adaptation of the hit film will be sure to bring a smile to your face.

 

Click HERE for more information and to purchase tickets

 

Strong Home Sales Start Off The New Year!

   

We got a strong start to the new year in the Palm Springs area with a healthy increase in the number of homes sold compared to January of last year. A total of 740 homes were sold in January, a 19.2% increase over the number sold this time last year.  Overall buyer activity remains strong, but the low inventory is making it difficult for buyers to find the perfect home.

 

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.

The average home sale price last month in the Palm Springs area was $494,922, a (-2.98%) decrease over the same month last year.  Homes sold in an average of 79 days, with days on market remaining constant compared to last year. There were 3,785 homes for sale last month, a (-17.2%) decrease over this same time last year. Inventory continues to be below average, even as we see our usual seasonal increase in buyer activity.

 

For more information on specific cities, or to view the full market update, click here: 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 Concerts and Live Performances In March

 

 

McCallum Theatre

  • Pink Martini, Mar 4-8
  • Ricky Skaggs, Mar 12
  • Chicago, The Musical, Mar 13-15
  • The Celtic Tenors, Mar 17
  • The Manhattan Transfer, Mar 21
  • Steve Tyrell, Mar 27

For more information and tickets click HERE.

 

Fantasy Springs Casino

  • Terry Fator, Mar 6
  • Pitbull, Mar 14
  • Daryl Hall & John Oates, Mar 21
  • Chaka Khan, Mar 27
  • Dancing With The Stars, Mar 28

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Frankie Valli & The Four Seasons, Mar 14
  • Thunder from Down Under, Mar 21
  • The Stylistics, Mar 22

For more information and tickets click HERE.

 

Morongo Casino

  • Flogging Molly, Mar 14
  • Marlon Wayans, Mar 20
  • Rob Lowe, Mar 27

For more information and tickets click HERE.

Feb. 17, 2020

Strong Home Sales Start Off The New Year in Palm Springs!

   

We got a strong start to the new year in the Palm Springs area with a healthy increase in the number of homes sold compared to January of last year. A total of 740 homes were sold in January, a 19.2% increase over the number sold this time last year.  Overall buyer activity remains strong, but the low inventory is making it difficult for buyers to find the perfect home. The continued strength in our market is driven by historically low interest rates, relatively affordable housing, and the quality of life the area affords.  

 

Inventory constraints continue, and we once again see a noticeable drop in available homes for sale compared to last year.  There were 4,568 homes available for sale in January 2019, and this month there are 3,785 homes available for sale … that’s a (-17.1%) decrease in available housing over 12 months!

 

The low inventory is continuing to push home prices higher …  the median price for detached homes (single-family) was up (+10.5%) over the same month last year. The median price for attached homes (condos) was up (+2.0%) over last year.  


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 Sale Prices. The average home sale price last month in the Palm Springs area was $494,922 a decrease of (-2.98%) over the same month last year.  
  • Number of Days on Market. Days on Market remain constant, with homes selling in an average of 79 days. 
  • The Number of Homes for Sale. There were 3,785 homes for sale last month, a (-17.2%) decline over January of last year. While inventory remains below average, if past trends continue we'll see more homes come on the market over the coming months.

Interest rates continue to be very attractive and that will continue to drive new purchases and refinance activity. 30-year fixed-rate mortgages are remaining steady at 3.625% and the FHA 30-year fixed rate stands at 3.375%. If you’re financing a larger amount, the Jumbo 30-year fixed-rate is still attractive at 3.375% and the Jumbo 5-year ARM is 3%. 

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Celebrate Modernism Week!

Find your perfect mid-century home now!

Just CLICK HERE:

www.MidModPalmSprings.com

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

 

As indicated above, the Number of Homes Sold in January 2020 vs. January 2019 were up in all cities EXCEPT; Palm Desert (-9.5%), Bermuda Dunes (-27.3%) and Coachella (-17.6%). All other cities saw increases in the number of homes sold, with strong gains in Cathedral City (+76.5%), Indian Wells (+45%), and La Quinta (+34%).

   

   

When looking at Average Sold Price, Coachella stood out with a solid (+18%) increase over last January solds. Only Rancho Mirage, La Quinta and Indio experienced decreases in average selling prices. 

 

The Number of Days on Market Increased for every city in the Coachella Vally EXCEPT; Palm Desert, Indio and Coachella. The largest decreases in selling time was in Coachella (-34.2%), Palm Desert (-26.9%) and Indio (-34.2%). Cathedral City and Bermuda Dunes experienced the biggest increase in selling times, up (+37.2%) and (+33.7%) respectively. 

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City Watch - Indian Wells 

 

Number of Homes for Sale = 227  (-8.8%)

Number of Homes Sold = 29  (+45%)

Average List Price = $1,511,466 (-6.53%)

Average Sale Price = $942,296 (+14.5%)

Average Days on Market = 92 (+7.0%)

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Our buyer activity remains strong, and many are having difficulty finding the right home. If you're considering putting your home on the market, let us help you get it SOLD! 

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? 

Jan. 29, 2020

Desert Lifestyle Report - February 2020

Classic Cars & Classic Architecture Featured in February!

 

Tour de Palm Springs, Feb 7 & 8

   

Get ready to ride through Palm Springs with thousands of other riders for a good cause during the 22nd Annual Tour de Palm Springs. This celebrated event has given both bike enthusiasts and casual riders a chance to pedal their way through Greater Palm Springs since 1999. Register today to choose from five routes ranging from 10 miles to 100 miles long. Bike rentals are available. There's fun to be had for walkers too, with both a 1-mile and 3-mile walk option!

 

Click HERE for information on the event and for registration information.

 

Art Palm Springs, Feb 13- 17

   

Calling all art-lovers! You'll love this four-day art event, one of the country's premier events, that takes place at the Palm Springs Convention Center. Featuring over 70 galleries from the U.S. and around the world exhibiting works from over 300 artists -- all under one roof -- representing paintings, sculpture, photography and other visual arts. Don't miss what is often called "The Arts Event of the Year" in Palm Springs.

 

Click HERE for information on the event.

 

Modernism Week, Feb 13-23

 

Modernism Week’s cool, iconic, modern February festival is an exciting 11-day celebration of midcentury modern design, architecture, art, fashion, and culture. Events include the Modernism Show & Sale at the convention center, tours of iconic homes, architectural walking, biking, and double-decker bus tours, a world-class lecture and film series, tours of the historic Annenberg Estate at Sunnylands If you're a mid-century modern enthusiast, Palm Springs is the place to be this month! 

 

Click HERE for information on the event and to purchase tickets.

 

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New to Palm Springs?

Check out the Palm Springs Insider Guide!

www.PalmSpringsInsiderGuide.com

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Riverside County Fair and National Date Festival, Feb 14 - 23

 

Visit the first county fair of the year -- the 74th year for this fair -- where you'll find a nightly musical pageant, headline entertainment, Monster Truck, and BMX shows, camel and ostrich races, date and produce displays, arts and crafts, carnival rides, and great fair food. This year's entertainers included George Clinton & Parliament Funkadelic, and a 90's show with Vanilla Ice, Tone Loc and Coolio! 10 a.m. to 10 p.m.; Carnival open until midnight on weekends!

 

Click HERE for information on the event. 

 

Rancho Mirage Wine and Food Festival, Feb 28 & 29

   

Welcome to the Rancho Mirage Wine and Food Festival, where palm trees and the famous Palm Springs mountain views serve as the backdrop to one of the most talked-about wine events in California. Featuring the Special Sunset Rare and Reserve Tasting and the Grand Tasting Finale at the beautiful Rancho Mirage Community Park. For the Grand Tasting, enjoy an afternoon of fun, wine, food and live upbeat music – at the classiest wine and food festival under the sun! 

 

Click HERE for information on the event and to purchase tickets.

 

Desert Woman's Show, Feb 22

   

This expo offers dynamic daily fashion shows by Pete Carlson's Golf & Tennis and local boutiques. The Woman's Show marketplace showcases plenty of shopping, stimulating seminars on Age in Reverse with renowned heart surgeon & author Dr. Steven Gundry, Stem Cells Demystified, Secret to Fabulous Legs and so much more! Guests also enjoy a variety of local talent sponsored by Big Rock Pub while sampling everything from Tequila to Butter Cakes. 

 

Click HERE for information on the event and to register for the event.

 

McCormicks Classic Car Auction, Feb 21-23

   

Every year the turnout is huge for one of the biggest car auctions in the country. This year nearly 600 classic cars will cross the auction block over the three days of this event. You'll see everything from classic muscle cars to vintage luxury vehicles from Mercedes and Rolls Royce. Many hard-to-find cars, like Austin Healeys and Studebakers, often appear and are especially popular with the crowd. If you're just looking, take advantage of the first day of the event, always free of charge to the public. 

 

Click HERE for information on the event.

 

Swing ‘N Hops Street Party, Feb 8

   

Swing ‘N Hops provides family-friendly fun on El Paseo in Palm Desert. You’ll enjoy playing the games, including a giant Twister game, chess, and outdoor bowling, while a nearby crafts station will engage your creative side. The event features big band music by the Swing Cats Big Band, and dancing in the street is encouraged, as El Paseo will be pedestrians only between San Pablo and Larkspur for the event. 

 

Click HERE for information on the event.

 

Home Sales Rise Across Most Cities!

   

The low inventory is continuing to push home prices higher …  the median price for detached homes (single-family) was up (+9.0%) over the same month last year … that’s the highest single-year increase on record! The median price for attached homes (condos) was up (+2.0%) over last year, and while price increases for condos accelerated about two years ago, we see price gains for condos starting to soften a bit. 

 

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.

 

 

The average home sale price last month in the Palm Springs area was $492,233, a (+1.5%) increase over the same month last year.  Homes sold faster last month, with days on market going down by (-2.7%) over last year to 72 days. There were 2,998 homes for sale last month, a (-11.9%) decrease over this same time last year. Inventory continues to be below average, even as we see our usual seasonal increase in buyer activity.

   

For more information on specific cities, or to view the full market update, click here: 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 Concerts and Live Performances In February

 

McCallum Theatre

  • Shoshana Bean, Feb 4
  • Mozart Group, Feb 11
  • Cirque Eloize – Hotel, Feb 13
  • The Ten Tenors, Feb 18-23
  • Burton Cummings, Feb 24
  • Judy Collins, Feb 25
  • A Celebration Of Ella Fitzgerald, Feb 29

For more information and tickets click HERE.

 

Fantasy Springs Casino

  • The Improve Comedy Club, Feb 1
  • Pedro Fernández, Feb 1
  • Golden Boy Boxing, Feb 6
  • Charlie Wilson, Feb 15
  • Sheryl Crow, Feb 22
  • The Righteous Brothers, Feb 28

For more information and tickets click HERE.

 

Agua Caliente Casino

  • Jerry Seinfeld, Feb 1
  • San Francisco 49ers vs. Kansas City Chiefs, Feb 2
  • Keith Sweat, Feb 14
  • Air Supply, Feb 15
  • Michael Bolton, Feb 29

For more information and tickets click HERE.

 

Morongo Casino

  • Morongo's Big Game Blitz, Feb 2
  • Alice Lau & Selina Pao, Feb 16

For more information and tickets click HERE.

Jan. 15, 2020

Home Sales Rise Across Most Cities In The Palm Springs Area!

       

       

Home sales in the Palm Springs area rebounded with strong sales numbers across most cities in the valley.  Overall buyer activity remains strong and we continue to see good homes that are priced right selling quickly, often with multiple offers. We did not experience the typical December slowdown that often accompanies the holiday season, and sales trends continue to bode well for sellers in 2020.


Inventory constraints continue into the busy season, and we once again see a rather dramatic drop in available homes for sale compared to 3 years ago.  There were 4,585 homes available for sale in January 2018, and this month there are 2,998 homes available for sale … that’s a (-34.6%) decrease in available housing over three years!

 

The low inventory is continuing to push home prices higher …  the median price for detached homes (single-family) was up (+9.0%) over the same month last year … that’s the highest single-year increase on record! The median price for attached homes (condos) was up (+2.0%) over last year, and while price increases for condos accelerated about two years ago, we see price gains for condos starting to soften a bit. 

 

 

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 Sale Prices. The average home sale price last month in the Palm Springs area was $492,233, a (+1.5%) increase over the same month last year.  
  • Number of Days on Market. Homes sold faster last month, with days on market dropping by (-2.7%) over the last year to 72 days. 
  • The Number of Homes for Sale. There were  2,998 homes for sale last month, a slight increase over last month and a (-11.9%) decline over December of last year. The inventory constraints are likely to continue as we see strong buying activity and a trend towards more people moving to the desert full-time.

Interest rates continue to be very attractive and that will continue to drive new purchases and refinance activity. 30-year fixed-rate mortgages are remaining steady at 3.75% and the FHA 30-year fixed rate stands at 3.5%. If you’re financing a larger amount, the Jumbo 30-year fixed-rate is still attractive at 3.625% and the Jumbo 5-year ARM is 3.25%. 

 

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Great Value in Palm Desert!

Monterey Country Club is one of the best values in Palm Desert.

See what's available for sale now! 

Just CLICK HERE:

wwwMontereyCC4Sale.com

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

 

As you can see in the chart below, the number of homes sold in December 2019 vs. December 2018 was up in all cities except Indio, which was down (-7.9%). All other cities saw increases in the number of homes sold, with strong gains in Bermuda Dunes (+66.7%), Rancho Mirage (+41.7%), and Palm Desert (+33.3%).

 

 

Average selling prices were up across the board, with the largest increases in Bermuda Dunes, up +(59.8%), and Desert Hot Springs, up (+45.6%). Palm Springs and La Quinta were the only cities to see a drop average selling prices last month. 

 

The number of Days on Market was up in about half of the cities and down in the other half. The largest decrease in selling time was in Indio (-13.7%) and La Quinta (-11.9%). Rancho Mirage and Desert Hot Springs experienced the biggest increase in selling times, up (+24.2%) and (+16.9%) respectively. 

 

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City Watch - Bermuda Dunes 

 

Number of Homes for Sale = 61  (-16.4%)

Number of Homes Sold = 10  (+66.7%)

Average List Price = $604,403 (+12.5%)

Average Sale Price = $509,400 (+59.8%)

Average Days on Market = 76 (+10.1%)

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Our buyer activity remains strong, and many are having difficulty finding the right home. If you're considering putting your home on the market, let us help you get it SOLD! 

 

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?