Wasserman Real Estate Group Blog

According to the Desert Housing Report brought to us by the California Desert Association of Realtors (CDAR) and the Greater Palm Springs Realtors (GPSR), in March, the Coachella Valley's real estate market showed strong growth in attached home prices, with the median price reaching $500,000. This represents an impressive 8.7% increase compared to the previous year, highlighting the robust performance of attached homes in the region.

One notable trend in the attached home market is the larger seasonal range of prices compared to detached homes. As the chart clearly shows, attached home prices follow a more varied seasonal pattern, with greater fluctuations throughout the year.

As we move further into the spring season, we anticipate that the seasonal trend of rising prices will continue for the next two or three months. This aligns with the normal seasonal pattern for attached homes, which typically see price advances during the spring months.

For buyers interested in attached homes in the Coachella Valley, now is a pivotal time to explore the market. With prices on the rise and the seasonal pattern indicating further advances, it's essential to act swiftly to secure the best possible deal.

Sellers of attached homes should also take note of the market conditions. With prices steadily increasing and the seasonal trend in their favor, now could be an opportune moment to list their properties and capitalize on the current market dynamics.

Overall, the Coachella Valley real estate market continues to show strength, particularly in the attached home segment. Whether you're buying or selling, it's crucial to stay informed about market trends and act decisively to achieve your real estate goals. To learn more on the Coachella Valley housing market take a look at the entire Desert Housing Report and explore the current value of your home, on our website. 

According to the California Desert Association of Realtors (CDAR) and the Greater Palm Springs Realtors (GPSR), the Coachella Valley real estate market saw a notable increase in the median price of detached homes in March, reaching exactly $700,000. This represents a 2.2% year-over-year increase, reflecting the ongoing trend of rising prices as we move into the spring season.

Despite the price increase, the market continues to show signs of favoring buyers. Inventory has been on the rise, and sales remain relatively low. This shift in supply and demand dynamics is expected to somewhat limit further price gains in the coming months.

As we enter the traditionally busy spring season, we anticipate that the seasonal pattern of rising prices will continue. However, with the current market conditions, buyers can expect to have more options and potentially more negotiating power.

For those looking to buy or sell in the Coachella Valley, now is a great time to explore your options. Whether you're searching for the perfect desert getaway or considering selling your property, our team is here to help you navigate the market and achieve your real estate goals. Visit our website to learn more about how we can assist you in this dynamic market and view the full report.

Thinking about selling your home in the Coachella Valley? Here's a snapshot of the Desert Housing Report brought to us by the California Desert Association of Realtors (CDAR) and the Greater Palm Springs Realtors (GPSR). let's delve in and explore market trends that could influence your decision:

Prices

- Detached Homes: The median price for a detached home in March was $700,000, up 2.2% from last year.

- Attached Homes: The median price for an attached home was $500,000, up 8.7% from last year.

- City Variations: Prices have varied across cities, with Indian Wells seeing a 21.7% gain, while Desert Hot Springs experienced a 5.9% decline.

Sales

- Overall Trend: Sales have been strong, with a 10% increase compared to last year.

- City Highlights: Indian Wells and Palm Springs saw the largest sales increases, at 49% and 23% respectively.

Inventory & "Months of Sales" Ratios

- Current Inventory: As of April 1st, there were 2,450 units for sale, the highest since June 2020.

- Months of Sales: The Valley's "months of sales" ratio was 3.9 months, indicating a balanced market.

- Price Range: Every city but Coachella has a ratio over three months, with four cities having ratios over four months.

Days in the Market (DIM)

- Median Selling Time: The median number of days on the market was 42 days, two days less than last year.

- City Variations: Coachella has the shortest median selling time for detached homes at 31 days, while Bermuda Dunes leads in the attached market at 16 days.

Price Discounts/Premiums

- Over List Price: 14.1% of homes sold over list price in March.

- Discounts: All cities are selling detached homes at an average discount, ranging from .7% in Desert Hot Springs to 4.1% in Bermuda Dunes.

- Premiums: There are currently no average selling premiums.

Conclusion

The Coachella Valley real estate market remains robust, with steady price growth and healthy sales activity. If you're considering selling your home, now could be a great time to capitalize on the market's strength. For more in-depth information on the Coachella Valley housing market take a look at the entire Desert Housing Report. And to explore the current value of your home, visit our website. Empower yourself with knowledge as you embark on this exciting journey in the vibrant Coachella Valley real estate market.

Looking for a delightful way to welcome the spring season? Look no further than the "Taste of On The Mark" event in Palm Springs! Hosted by On The Mark Fine Foods & Provisions, this event promises an evening filled with seasonal flavors and fun. Here are the event details:

- Date: April 6, 2024

- Time: 4:00 PM - 7:00 PM

- Location: On The Mark Fine Foods & Provisions, Palm Springs

- Tickets: Eventbrite

Gather your friends and family and join us for a delicious culinary experience. From gourmet bites to refreshing beverages, "Taste of On The Mark" is sure to delight your taste buds and create lasting memories.

Explore More Local Events and Listings

Looking for more events like "Taste of On The Mark" in Palm Springs? Visit our website to discover a curated list of local happenings. Whether you're a long-time resident or a first-time visitor, there's always something exciting to explore in our vibrant community.

While you're here, don't forget to explore available listings in Palm Springs and surrounding areas. Whether you're looking for a new home or investment property, we're here to help you find the perfect match.

Join us at "Taste of On The Mark" for a flavorful evening and start your journey to finding your dream home in Palm Springs!

72922 Grapevine Street, Palm Desert, CA 92260

Nestled in the prestigious south Palm Desert area, this stunning custom-built home epitomizes luxury living. Boasting a rich history with only one owner since its construction in 2005, this residence offers a rare opportunity to own a piece of desert paradise.

As you approach the property, you're greeted by secure gates that open to reveal a meticulously maintained oasis. The home's exterior hints at the opulence within, with its tasteful mix of European tile floors and a dramatic rotunda that sets the tone for the grandeur that awaits inside.

Step through the front door and discover a world of elegance. Crown molding adorns every corner, and solid Alder doors add a touch of sophistication. The main house features four bedrooms and four and a half bathrooms, providing ample space for family and guests. Additionally, a one bedroom, one bathroom detached casita offers a private retreat for visitors.

Entertain with ease in the large gourmet kitchen, complete with a stunning center island, thick granite countertops, and professional-grade appliances. 

The kitchen is a chef's dream, equipped with a 6-burner stove, plate warmer, multiple ovens, and a subzero refrigerator.

The home's amenities don't end there. A private office and a large billiard room offer space for work and play, while a wine room provides the perfect place to store your favorite vintages.

Step outside to the backyard, where an entertainer's paradise awaits.

Breathtaking mountain views provide a stunning backdrop to the large pool and spa, creating a peaceful retreat. An outdoor kitchen, complete with a pizza oven, sets the stage for al fresco dining and gatherings with friends and family.

Additional features of this exceptional property include a three-car garage with tile flooring and ample storage space, as well as 54 owned solar panels on the roof, ensuring energy efficiency.

Conveniently located within walking distance to the world-famous El Paseo Shopping District and a short drive to the Indian Wells Tennis Gardens, this home offers the perfect blend of luxury and convenience.

Don't miss your chance to own this exquisite property. Welcome home to luxury living in South Palm Desert.

As the warmth of spring envelops Palm Springs, the city comes alive with exciting events, and one of the most anticipated is the return of "Movies in the Park" to Downtown Palm Springs Park. This beloved tradition offers residents and visitors alike a chance to enjoy classic films under the twinkling stars, creating unforgettable memories in a picturesque outdoor setting.

Event Details:

Location: Downtown Palm Springs Park

Website: Eventbrite - Movies In The Park Spring 2024

Movie Schedule:

1. April 2, 7 PM: Who Framed Roger Rabbit?

2. April 16, 7 PM: E.T. The Extra-Terrestrial

3. April 30, 7 PM: The Sandlot

The "Movies in the Park" series is more than just a screening; it's an experience. Families and friends gather on blankets and lawn chairs, creating a cozy, communal atmosphere.

"Who Framed Roger Rabbit?" kicks off the series, promising a nostalgic journey into the world of animation and live-action. Followed by "E.T. The Extra-Terrestrial," a timeless tale of friendship and adventure that transcends generations. Finally, "The Sandlot" closes the series with its heartwarming story of baseball and camaraderie.

Make sure to arrive early to secure your spot and enjoy pre-movie activities. Food trucks will be on-site offering a variety of delicious snacks and drinks. This is a popular event, so be sure to mark your calendars and invite your friends and family to join you for an evening of cinematic delight at Downtown Palm Springs Park. For more information visit the event's official website linked above. We look forward to seeing you there!

Visit our website to stay updated on local events like "Movies in the Park" and explore available listings in Palm Springs and surrounding areas. We're here to help you find your perfect home in this vibrant community!

Nestled against the stunning backdrop of the Santa Rosa Mountains in La Quinta, California, lies the prestigious Hideaway Golf Club. This exclusive community is renowned for its unparalleled luxury and world-class amenities, offering a lifestyle of sophistication and relaxation for its residents and members.

Club Info

The Hideaway Country Club features two championship golf courses designed by golf legends Clive Clark and Pete Dye. These meticulously crafted courses offer an exceptional golfing experience amidst breathtaking desert landscapes. Members can also enjoy access to a state-of-the-art fitness center, tennis courts, and luxurious spa facilities, ensuring there's always something for everyone to enjoy.

Dining and Social Activities

For those seeking culinary delights, the Hideaway boasts several dining options, from casual fare to fine dining experiences. The clubhouse serves as the social hub of the community, hosting a variety of events and activities throughout the year, fostering a strong sense of camaraderie among members.

Real Estate Opportunities

The Hideaway offers an array of real estate options, including custom-built luxury homes, villas, and bungalows, all designed to exude elegance and sophistication. Whether you're looking for a full-time residence or a vacation home, the Hideaway has something to suit every lifestyle.

Amenities and Services

Beyond its golf and recreational offerings, the Hideaway provides an array of exclusive amenities and services to enhance the living experience. From concierge services to private event planning, residents and members can enjoy a truly luxurious lifestyle tailored to their every need.

Membership Information

Membership at the Hideaway Country Club is by invitation only, ensuring a community of like-minded individuals who share a passion for luxury living and exceptional golf. For those interested in becoming a part of this exclusive community, membership inquiries can be made through their website or by contacting the membership office directly.Conclusion

Conclusion

The Hideaway Country Club offers a lifestyle of luxury and sophistication, combining world-class amenities with breathtaking natural beauty. Whether you're an avid golfer, a fitness enthusiast, or simply seeking a retreat from the hustle and bustle of everyday life, the Hideaway provides the perfect sanctuary to call home. Experience the pinnacle of desert living at the Hideaway Country Club in La Quinta. To explore available listings at the Hideaway and discover other similar clubs in the area, visit our website today. Our dedicated team is here to assist with all your real estate needs, from finding your dream home to navigating the membership process. Contact us today to begin your journey to luxury living at the Hideaway Country Club.

Are you a resident of the 55+ active adult communities in the Palm Springs area? Whether you're considering selling your home or looking to buy a new one, here's a market update to keep you informed:

Prices

The prices in the 55+ active adult market have remained stable. The Franklin Loan Center(FLC) Active Adult Price Index, representing the average price of a 1,900 square foot home in eight active adult communities, was $586,868 in February, down just 0.2% year over year. Average gains ranged from 4% for Heritage Palms Country Club to -4.8% for Trilogy Polo Club.

Sales

In February, sales in all eight communities averaged 66 units per month, unchanged from last year. Dollar sales over the last three months averaged $32 million a month, up 19% from last year.

Inventory

At the end of February, listings in the eight adult communities were 211 units, compared to 192 units last year, which is higher by 9.9%. The February “months of sales” ratio was 3.2 months compared to 3.0 months last year, indicating an equal balance of supply versus demand.

Days on Market

The average number of “Days on the Market” for the active adult communities in February was 60 days compared to 51 days a year ago. Average selling times range from 52 days in Sun City Shadow Hills to 84 days in Trilogy.

Price Discount/Premium

In February, homes in the eight adult communities sold with an average discount of 1.9%, similar to a year ago. Selling discounts range from a low of 0.2% in Four Seasons at Terra Lago to a high of 2.6% in Trilogy Polo Club.

We extend our gratitude to Walter Neil at Franklin Loan Center for granting us access to these reports. For those interested in delving deeper, the full report is available on our website. Whether you're considering purchasing a home in these communities or contemplating selling your current residence, our website offers valuable resources. Explore listings, utilize our free valuation tool, and reach out to us for expert guidance. Let us help you navigate the 55+ active adult real estate market in the Palm Springs area with confidence and ease.

Nestled in the heart of La Quinta, Andalusia Country Club stands as a premier destination for those seeking the epitomeof luxury desert living. Boasting breathtaking views of the Santa Rosa and Coral Mountains, this exclusive community offers an unparalleled lifestyle amidst world- class amenities and meticulously crafted homes.

The Andalusia Experience

As you enter the gates of Andalusia Country Club, you are welcomed by lush landscaping and impeccably manicured grounds. The Spanish-inspired architecture sets the tone for the community's elegant aesthetic, evoking a sense of timeless sophistication.

Luxury Living

Andalusia Country Club is renowned for its luxurious amenities, including its private Rees Jones-designed golf course, which offers a challenging yet rewarding experience for golf enthusiasts of all levels. The Club also features a state-of-the-art fitness center, tennis courts, and a full-service spa, ensuring residents can indulge in a lifestyle of health and wellness.

Exquisite Homes

The homes in Andalusia Country Club are a testament to luxury and craftsmanship. From spacious single-family residences to lavish villas, each home is meticulously designed to blend seamlessly with the desert landscape while offering modern amenities and panoramic views.

A Community Like No Other

Beyond its luxurious amenities and exquisite homes, Andalusia Country Club fosters a sense of community and camaraderie among its residents. Whether enjoying a round of golf, dining at the Clubhouse, or attending one of the many social events, residents of Andalusia Country Club can forge lasting friendships and create cherished memories.

Finding Your Dream Home

If you're considering making Andalusia Country Club your new home, explore our website for the latest listings and information on available properties, or to explore other similar country clubs in the area! Our team of real estate experts is here to help you find the perfect home that suits your lifestyle and preferences. Discover the beauty and luxury that await you at Andalusia Country Club and experience the ultimate in desert living.

If you're a seller looking to stay ahead of the curve or a buyer eager to explore the most sought-after properties, you're in the right place. February brought exciting developments in the luxury housing sector, with prices reaching new heights, sales surging, and inventory expanding. Let's dive into the details from the Franklin Loan Center(FLC) Luxury Price Index and uncover what these trends mean for you within these top fifteen top luxury country clubs.

• Andalusia at CM
• Andreas Hills
• Bighorn Golf Club
• El Dorado Country Club
• Indian Canyons
• Movie Colony
• Old Las Palmas
• Tamarisk Country Club
• The Hideaway
• The Madison
• The Reserve
• Thunderbird Heights
• Toscana Country Club
• Tradition Golf Club
• Vintage Country Club

Prices Soaring High

The luxury real estate market is booming, with the FLC Luxury Price Index reaching new heights. The average price of a 4,500 square foot home in fifteen top luxury country clubs soared to $3,832,258 in February, up by $4,957 from the previous month and showing a strong 5.5% increase year over year. Notably, some clubs experienced remarkable gains, with Old Las Palmas seeing a staggering 58.1% increase, while Tamarisk Country Club saw a slight decline of -15.1%.

Sales on the Rise

Luxury home sales are on the rise, averaging 17.8 units per month in February, up by 2.9% from last year. Dollar sales of luxury homes over the last three months averaged an impressive $70 million a month, a significant increase from $49 million last year, reflecting a 43% jump.

Growing Inventory, More Options

The luxury market is also offering more options, with total inventory in the fifteen luxury country clubs reaching 108 units by the end of February, a substantial 28% increase from last year. This increase provides buyers with a wider selection to choose from. The "months of sales" ratio stood at 6.1 months, up from 4.9 months a year ago, indicating a healthy balance between supply and demand.

Days on the Market Decreasing

While the average "Days on the Market" for luxury homes in February was 72 days, slightly higher than last year's 52 days, it's still significantly lower than the pre-pandemic average of 120 days. Homes in the El Dorado Country Club sold in no time, with zero days on the market, while those in the Vintage Country Club took a bit longer at 209 days.

Great Deals for Buyers

Luxury homes in February sold at an average discount of 4.4%, compared to 2% a year ago. The El Dorado Country Club saw no discounts, while The Madison offered an average discount of 16.4%, providing buyers with excellent opportunities.

These trends suggest a vibrant market that offers great opportunities for sellers. If you're considering selling your luxury property, now might be the perfect time to capitalize on the market's momentum! For a more in-depth analysis and access to comprehensive reports, we invite you to visit our website. We extend our gratitude to Walter Neil at Franklin Loan Center for generously allowing us to utilize these insightful reports, empowering you with the knowledge needed to make informed decisions about your next home.