Palm Springs Real Estate. Buy Or Sell In 2020?

So, let's say you either have some Palm Springs property or are looking to get some in the near future, is selling or buying Palm Springs real estate the right choice in 2020?

Let's take a look...

The Palm Springs' Real Estate Market In 2019

Palm Springs is something of an outlier in the overall California real estate market landscape.

For a start, the demographics are a bit different, consisting of many older buyers, particularly those looking for second or retirement properties.

In addition, the area's flourishing tourism industry means a big demand for vacation homes and excellent opportunities for acquiring profitable income properties.

Overall, Palm Springs will see slightly slower growth than the rest of the state in 2020, with…

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palm springs city limits sign, windmills in the background

Welcome to the latest edition of the Greater Palm Springs real estate market report for October 2020. I've compiled the best information from the local Palm Springs MLS®. Have a look at our full Palm Springs real estate market infographic below for details!

The median value of both single-family detached and attached homes continue their upward trajectory. Despite concerns about how the market would react to the global pandemic, business in the valley is booming. La Quinta, Desert Hot Springs, Cathedral City and Palm Springs all saw double digit growth. The median price of a home in Coachella Valley is $510,000, up 27% over last year. The median price of an attached home is $315,000, up 12.7% over last year.

It's definitely a seller's market -…

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We have all heard the saying that "home is where you make it." This is exactly right, but a home is also what you make of it. Whether you're in my real estate area of Palm Springs or another city known for its stylish homes, the features of a home represent you and how it makes you feel at home. Over the years, many of us have forgotten what that feels like, particularly if you just recently moved into a new home. It's easy to forget that you need to update your home, especially if you just moved in. While some of the design ideas might be liked by you, they have been replaced with features that not only look better, but provide function in the home.

Here are six outdated home features that you might want to look into fixing in 2019 if you want your…

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Palm Springs Cultural CenterYou may think the Palm Springs Cultural Center is just the Camelot Theater and the movies on the marquee, but it’s much more than that. Founded in 2007 by local philanthropists Ric and Rozene Supple, the Cultural Center has grown to not only include the Palm Springs International Film Festival, but a speaker’s series, book clubs and the vintage and farmer’s markets.

The Camelot Theater, a Midcentury Modern showcase that was once part of the defunct Palm Springs Mall complex, had fallen on hard times, when the Supples bought, restored and reconfigured it. In 2017, they gave to the Palm Springs Cultural Center. (The Palm Springs Mall, abandoned for years, has recently been acquired by the College of the Desert. Construction is underway for a new Palm…

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Getting to and around Palm SpringsPalm Springs, centrally located in the Southwest, is within driving distance of several metropolitan areas, and the airport (PSP) provides great service to the Bay Area, the Northwest, and Phoenix. And that makes it easy for all your friends and family to visit you all year long. 

Driving to nearby cities

The closest metropolitan area is, of course, Los Angeles, at least in terms of distance. In terms of drive time, that depends on when you leave Palm Springs, and when you return. The 10 freeway is the most common route to get to central LA, and, say, to Santa Monica. But it’s also the most congested. If you leave Palm Springs on weekday mornings or on an Sunday afternoon, you’re bound to get in traffic, no matter which way you go. Early Saturday…

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Living in Palm Springs gives you the opportunity to attend any number of local events and festivals without the costs of hotels and transportation. And there are really too many to choose from, especially in season from January through May. But more and more attractions are coming to the desert in the summer. August is now the scene for Splash House parties at several local, hip hotels, like the Ace and Saquaro. And rates drop at many gay resorts sponsoring splash parties during the summer months.

Below is a list compiled from many different sites. Be sure to check out the links for up-to-date information. Dates change somewhat from year to year.

Starting in January:

Palm Springs International Film Festival. Early January. This festival has…

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New building in Palm SpringsLook around. Palm Springs is booming. The last several years have brought new hotels, restaurants, clubs and housing to Palm Springs. Downtown is undergoing a revitalization, and the Uptown Design District is hopping with hip shops and cafes.

What was known as primarily a sleepy retirement community has suddenly morphed into a sexy destination for young people – all year round. Major events follow one after another, especially in season, from the Palm Springs Film Festival to Modernism Week and the Coachella Music Festival. All these visitors need places to stay, to eat, and shop. And those businesses need employees, who need places to live.

So, what's new on the horizon? Some of the projects you see when driving around town include:

New Hotels

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Whenever you relocate, there are some many mundane considerations. Things you took for granted for where lived before: Where is the best, closest grocery store or pharmacy? It took years to find my someone who knows how to cut my hair; now, what do I do? Where is a decent dry cleaner, a reliable mechanic, a dog groomer? 

But perhaps one of the most important concerns is how to replace your doctor. What can you expect from medical services in the Coachella Valley?

The Coachella Valley has excellent medical resources. Doctors, medical centers, urgent care and hospitals can be found throughout the desert from Palm Springs to Indio. There are two major networks that provide all services: The Desert Care Network and Eisenhower Health. (For those seeking…

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Moving to a new city means change. Among those changes is the likelihood that you’ll need to find a new health care provider. And for those people with chronic conditions, such as HIV/AIDS, it’s important that your new community can provide you with the same or better level of care than you’re used to.

Palm Springs is unique for a small town in that it has a large community of people living with HIV, many of whom are 50-plus years old. The availability of health services for this demographic is particularly outstanding in the Coachella Valley and comparable to those you’d find in a city like San Francisco or Los Angeles.

Health and wellness have always been in the DNA of Palm Springs. The Aqua Caliente Band of Cahuilla Indians were aware of the…

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As if searching for the right house, making the offer, and closing escrow aren’t enough, now you actually have to move!

How are you going to furnish the place? If you’re buying in Pam Springs, chances are you’ve selected a contemporary, a Midcentury Modern, or a Spanish/Mediterranean style home. Will your Seattle apartment’s French settee and or your San Francisco Edwardian flat’s Louis VX dining set go with your new digs? And if your Palm Springs home is used as a second home, or maybe as a part-time vacation rental, you’ll have to find some practical, durable furniture. 

Luckily, Palm Springs is the place to be for vintage, contemporary and consigned furnishings. Savvy shoppers from all over Southern California make the trip out to the desert…

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