The Palm Springs real estate market is one of the strongest in Southern California, particularly in the Coachella Valley. There’s good reason for that with stunning mountain views and beautiful desert landscapes, sunny days, and starry nights. With its iconic mid-century modern architecture, as well as prestigious luxury estates, Palm Springs stands out.
I’ve been visiting the desert destination since I was a child. My grandparents bought a home there, and more recently, my parents retired to Palm Springs. It only seems natural that I have sold real estate there, as well, seeing as how it’s been a part of my life for so long.
Palm Springs has long been a destination for retirees and snowbirds, with championship golf courses, beautiful weather, and the gorgeous backdrop of the Santa Rosa Mountains. Yet, Coachella, Modernism Week, and the Palm Springs International Film Festival have brought younger tourists to the desert in recent years, as well.
The state of Palm Springs real estate
The 2008 recession affected Southern California real estate markets, but a solid renaissance has been spreading throughout Coachella Valley, according to the Desert Sun. That’s partly due to the popularity of Palm Springs, which continues to see an increase in home sales over the previous year. The Desert Sun reports that the Palm Springs real estate market saw a 4.3 percent increase in closed sales and a 6.1 percent jump in average sales price over the same period in 2017. As is all too common in California, the number of homes available on the market is down in Palm Springs (by almost 20 percent), making it a slight seller’s market.
Other desert areas provide more price points for buyers, and Rancho Mirage in particular is poised to offer buyers more value, as compared with the stronger sellers markets in Bermuda Dunes and Cathedral City.
Palm Springs: Hollywood glamor meets outdoor lifestyle
Palm Springs, California, is many things. It’s small-town charm with big-city amenities. It’s a place rich in entertainment history, with iconic movie colony neighborhoods. But it’s also steeped in a much older history, that of the 3,000-year-old Cahuilla Indian culture that still thrives in the surrounding canyons. Luxury can be found on Palm Canyon Drive, where some of the best-known names in dining, shopping and entertainment can be found, as well as luxury accommodations.
The architecture, too, has its own history. With commissions from the stars, architects explored design innovations and artistic vision in Palm Springs. The result? Unique vacation homes, such as steel houses with prefabricated panels and folding roofs, or glass-and-steel creations set in boulder-strewn landscapes. In 1946, Richard Neutra designed the Edgar and Liliane Kaufmann House (pictured left). A modernist classic, this mostly glass residence incorporated the latest technological advances in building materials, using natural lighting and floating planes for flowing space.
Some say Palm Springs architecture became the model for mass-produced suburban housing, especially in the Southwest. The so-called “Desert Modern” style.
If you’re interested in exploring Palm Springs real estate, contact me for more information!