Latest data shows average size homes in city now selling for above $1 million

Home sales in Palm Springs have declined, according to the latest data available, but only due to lack of inventory, not lack of interest. At the same time, the price of an average size single family home in the city is now above $1 million.

That data, provided by the Palm Springs Regional Association of Realtors (PSRAR), shows the following:

• The median sale price of an average size single-family home in Palm Springs (2,175 square feet) in October was $1,175,878 — up 34.7 percent from the October 2020 median price of $872,675, and 263 percent above the average price of $323,879 during a slump in 2011.
• Average size condominiums and townhomes (1,250 square feet) in the city sold for a median price of $371,392 in October — an increase of 21.7 percent compared with one year ago.
• Across the entire Coachella Valley, the price of an average single family home continued to rise compared to last October — averaging $600,000 in October 2021, compared to $527,500 in October 2020. Condominium and townhome prices in the Valley also continued to increase, with an average sale price of $370,000 compared to $310,000 a year ago.
• Combined, an average of 173 properties sold each month in Palm Springs during the three months ending November 1. One year ago, that number was 237. Palm Springs continues to lead other Valley cities in total units sold.
• The three-month average of total sales in the entire Valley in April was 1,050 units a month, which compares with 844 units a year ago.
• On November 1, there were 915 units available to purchase in the Valley, compared with 2,014 available units (both single family homes and condominiums and townhomes) available on November 1, 2020.

“This ongoing paucity of inventory continues to be the driving force lifting home prices higher,” the report states. “Since Valley inventory is very seasonal, usually reaching peak levels around March, it will be interesting to watch whether this pattern continues as we move into 2022.”

Sellers in Palm Springs continue to see homes go quickly and continue to have their asking prices met, if not exceeded. The average time on market in the city was 19 days, compared to 42 days one year ago. Sellers are seeing average offers 2.3 percent above asking price in the city this year, compared to 2 percent below asking price last year.

While there may be some flattening of home prices throughout the Valley, overall there is no sign that the surge that first began in 2020 will let up.

“As we have been saying, we believe year-over-year price changes should begin to moderate and this appears to be happening,” the report authors said. “However, we are entering a seasonal period of price strength, so we expect any moderation to be minimal.”

BRIEFLY

RUN RESULTS: A record-breaking crowd of about 1,500 runners and walkers took to the streets of Palm Springs on Thanksgiving Day, participating in the city’s annual Wild Turkey Trot 5K, organizers reported. The first to cross the line was 23-year-old Luke Morgan, who finished in 15:46. he was followed by Raen Reyes, 19, four seconds later, and Emilio Chio, 19, in 15:58. Gianna Sbarbaro, 20, was the first female to cross the finish line, doing so in 18:04. Megan Crum, 14, finished second among females in 19:13, and Ashley Bock, 24, finished third in 19:22. Complete results can be found here. Anyone who earned an age group award and did not pick it up on the day of the event can contact Palm Springs Marathon Runners at 760-413-6508 by phone or text, or via email at psmarathonrunners@gmail.com.

DOWNTOWN DEVELOPMENT: A pair of properties with notable historic value have seen construction activity in Downtown Palm Springs recently, indicating new tenants are on the way. One, at Town & Country Center, 174 North Palm Canyon Drive, is a permitted interior demolition to prep for an unknown future tenant, according to city staff. The other, at the former home of See’s Candies in La Plaza, 144 South Palm Canyon Dr., also appears to be an interior demolition, but a permit for that work could not be found. City staff is looking into that work, and no new tenant has been announced. The candy shop closed on September 30, but an employee at one of the two other See’s locations in the Coachella Valley said the company is hoping to re-open in Palm Springs “within a year.” 

SHOOTING INVESTIGATION: Authorities are investigating a shooting that occurred in Palm Springs on Thanksgiving Day. The Palm Springs Police Department received the report of the shooting at 10:08 PM on November 25 after the victim drove himself to a nearby hospital. According to police, the victim was driving on Granada Avenue near Palm Vista Drive after leaving a family member’s residence and allegedly drove past a street corner when he saw a group standing there. He heard a gunshot and noticed that he had been shot. The victim, who was only described as male, drove to a nearby hospital and was treated for non-life-threatening injuries. Police are asking anyone who may have information about Thursday’s shooting to call 760-327-1441.

TRIAL SCHEDULED: A trial is scheduled to begin in Indio today for Jose Larin-Garcia, who is accused in a quadruple homicide in Palm Springs in February 2019. Larin-Garcia, 22, is charged with four counts of murder stemming from the shootings in which the victims, ages 17 to 25, were found dead at two separate locations. According to prosecutors, three of the victims were found inside a Toyota Corolla that crashed at Sunny Dunes and El Placer roads around 11:40 PM, while the fourth was found 30 minutes later lying in the street about a half-mile away. During the defendant’s preliminary hearing, Deputy District Attorney Scot Clark said Larin-Garcia was sitting in the back seat of the Corolla when he fatally shot Carlos Campos Rivera, 25, on Canon Drive south of Theresa Drive while the victim was standing next to or leaning inside the car. The motive for the shooting remains unclear, but Clark speculated at the time that drugs might have been involved.

AIRPORT JOB FAIR: Palm Springs International Airport (PSP) is holding a job fair to help 14 tenants hire nearly 100 people for their airport business locations, officials announced Saturday. The event takes place at Palm Springs Convention Center, 227 N. Avenida Caballeros, on Tuesday from 10 AM until 4 PM. There are many full-time and part-time positions available from companies such as Alaska Airlines, United Airlines, Hertz, the TSA, and more. Some jobs come with flight benefits. Job seekers are encouraged to visit PalmSpringsAirport.com/JobFair to view a complete list of all companies participating in the job fair. Applicants should bring plenty of resumes and be prepared to interview at the event.

TODAY’S CALENDAR

MIZELL EVENTS: The Mizell Center, 480 S. Sunrise Way, offers a Fit After 50 class, chair yoga, and more programs today, starting at 8 AM. A complete list of everything offered can be found online here.

COVID CARING: A weekly, peer-led Zoom space sponsored by the LBGTQ Center of the Desert is open at 11 AM to anyone who wishes to discuss what it means to care for ourselves and others in the times of the global COVID health crisis. Discussions range from the light and fun to the deep and moving. Pre-registration is required, and can be done at this site.

WHAT TO WATCH FOR

CANDLE LIGHTING & LATKES: Or Hamidbar will celebrate Hanukkah with a candle lighting and latkes at Gré Coffeehouse & Art Gallery, 279 North Palm Canyon Dr. (in the back of the Henry Frank Arcade), on Tuesday at 5:30 PM​. Bob Hamilton will perform. For more information on the organization, turn here.

USO GALA: The Bob Hope USO-Palm Springs, in partnership with The Management Trust, will present the 8th Annual Spirit of Hope Gala on Friday. The gala supports military service members and serves as a benefit for Palm Springs area programs and services. To purchase tickets to The Spirit of Hope Gala, visit this link.

TREE LIGHTING, PARADE: The 29th Annual Palm Springs Festival of Lights Parade will return to Palm Canyon Drive at 5:45 PM on Saturday. On Friday evening, residents are invited to the Official City of Palm Springs Holiday Tree Lighting at 5:15 PM at Frances Stevens Park, 500 North Palm Canyon Drive.

DESERT JAM: The annual benefit for Palm Springs-based Well in the Desert — Desert Jam 2021: Jammin’ for the Well — is slated for Monday, December 6 at the Agua Caliente Resort Casino ballroom in Rancho Mirage at 6 PM. All proceeds benefit The Well’s work to feed and provide for those experiencing homelessness in our community. More information, including how to purchase tickets for the event, can be found here or by calling 760-285-7297.

POLICE AND FIRE EVENT: The Palm Springs Chamber of Commerce is taking reservations for its annual Police & Fire Appreciation Luncheon, held Tuesday, December 7, from 11:30 AM until 1 PM at the Palm Springs Convention Center. More information about tickets and sponsorship opportunities is available here.

STRUT AWARDS VOTING: Voting has started for the STRUT Awards, slated to be handed out next month in Palm Springs. The STRUT Awards are a people’s choice voting event designed to honor members of the local LGBTQ+ industry. Nominations were accepted in more than two dozen categories, and now it’s time to vote. You can do that by going here. Winners will be announced and celebrated on December 12 during an event at Margaritaville Palm Springs beginning at 6 PM. Tickets for the event can be purchased here.

MOBILE CHRISTMAS: Well in the Desert is again planning its annual Christmas event as a mobile event due to COVID-19 restrictions. The drive-up event will be held Saturday, December 18, from 11:30 AM until 3 PM at The United Methodist Church, 1555 East Alejo Rd. Volunteers will distribute a frozen turkey and pie, as well as gifts for children to open on Christmas Day, to any family in need. Donations can be dropped off at churches where The Well serves hot meals: Mondays and Tuesdays: United Methodist, 1555 East Alejo Rd.; Wednesdays: Church of St. Paul’s, 125 West El Alameda; Thursdays: Our Lady of Solitude, 151 West Alejo Rd.; and Fridays: Our Lady of Guadalupe, 204 South Calle El Segundo.