Jan. 3 Daily Briefing: Housing report, first baby, OLT eyes another golf course, and more

TGIF everyone! If you’re like us, you’re looking forward to the end of “limbo” next week — the time between Christmas and the new year where normal routines and schedules are disrupted, the new work year hasn’t yet begun, and we’re all just wandering around in our sweats trying to remember what day it is. We’ll let you ponder why that is. But if you’re interested in what scientists have to say (spoiler alert: time is just a social construct), you can read this.

🎶 Setting the mood: “Shadow On The Wall” by Video Age

LEADING OFF

Palm Springs housing market shows mixed signals at year’s end

The latest Desert Housing Report reveals a complex picture of the Palm Springs housing market at the end of 2024, with stable sales but some price adjustments compared to the previous year.

Driving the news: Palm Springs homes showed a slight year-over-year price decline, with the average size detached home (2,175 square feet) selling for $1.2 million, down 0.4% from December 2023.

• The median price of a home in the Coachella Valley increased last month for the second time in eight months, ending December at $665,000, which is $8,750 above last year. 
  
  
• The report notes, “The environment for declining home prices just isn’t there.”

By the numbers: Palm Springs recorded 96 home sales in the three-month average ending December, compared to 98 sales in the same period last year.

• The city ranks second in total sales volume among valley cities, behind only Palm Desert, with dollar volume reaching $82 million in December, holding steady compared to last year.

Market dynamics: Palm Springs inventory increased significantly to 623 units, up from 499 units a year ago. Despite the inventory increase, homes in Palm Springs are selling relatively quickly, with a median of 37 days on market, the second lowest in the valley. 

• Palm Springs homes are currently selling at an average discount of 3.2% from list price, one of the highest discounts in the valley, tied with Rancho Mirage.

Zoom out: Valley-wide, inventory is back to pre-pandemic levels but sales are 33% below average, meaning supply could soon outpace demand as inventory is expected to continue to increase through April. 

• With the supply side of the market increasing in all price brackets, homes in higher brackets may begin to experience longer selling times.

What to watch for: The report indicates that the Federal Reserve has begun lowering short-term rates, but notes this hasn’t significantly impacted fixed mortgage rates yet. The report suggests sales recovery may remain challenged until long-term interest rates decline further.

Dive deeper with our complete story

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BRIEFLY

👶 Desert Regional celebrates city’s first 2025 baby

It took a few days, but Desert Regional Medical Center in Palm Springs has officially welcomed the first baby born in the city in the new year.

• Clara Jane was born at 5:45 a.m. Thursday, Jan. 2., to parents Brandon and Ashley Berumen. She weighed seven pounds, five ounces and was 20 inches long.
  
  
• The proud parents said they are excited to have their baby girl in their arms to start 2025.
  
  
• But wait: Honors for the first baby born in the entire Coachella Valley in 2025 go to parents Nohely and Carlos Hernandez of Desert Hot Springs, whose son was born at Eisenhower Medical Center in Rancho Mirage at 3:13 a.m. on Jan. 1.

🥾 Hiker rescued near Tramway entrance

Paramedics had to hoist a hiker to safety about one mile from the Palm Springs Aerial Tramway station trail Wednesday afternoon.

• The Riverside County Fire Department said the hiker complained of undisclosed minor pain and was unable to continue hiking. Multiple rescue units and a rescue helicopter were dispatched to the scene.
  
  
• Bottom line: The patient and the rest of their party were hoisted to awaiting paramedics and transferred to AMR.

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YOUR WEEKEND

MULTIPLE DAYS

• 36th Annual Palm Springs International Film Festival at several locations all weekend.
  
  
• Coachella Valley Cactus Cup NCAA Division 1 hockey match-up at Acrisure Arena today and Saturday. (Starting at $39)

TODAY

• Palm Springs International Film Awards at the Palm Springs Convention Center at 4:30 p.m.
  
  
• TGIF Trivia at Play Lounge & Café at 6:30 p.m.
  
  
• Country Western Dancing at Dance Ranch Palm Springs at 7:30 p.m. ($5)
  
  
• Comedy Night at Hotel Zoso at 8 p.m. ($15)

SATURDAY

• Certified Farmers’ Market at the Cultural Center at 8 a.m.
  
  
• Palm Springs Genealogical Society meets at 10 a.m. at the city library.
  
  
• Bingo with the Sisters of Perpetual Indulgence at one eleven bar at 6 p.m.

SUNDAY

• Palm Springs Vintage Market at Agua Caliente Casino parking lot at 7 a.m. ($5)

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AND FINALLY …

Palm Springs-based Oswit Land Trust (OLT) may be adding another defunct golf course to its growing list of protected lands. 

Driving the news: While a representative of the conservation organization declined to confirm the acquisition, Desert Dunes Golf Club’s owners recently notified the community via email and their website that OLT is set to take over the property.

Zoom in: According to the Desert Dunes officials, the plan is to transform the site into a natural area preserve, similar to the Prescott Preserve in Palm Springs, which is being established at the former site of Mesquite Country Club.

• The links-style course was designed by renowned golf course architect Robert Trent Jones Jr. It won plaudits from Golf Digest as one of best new courses when it opened in 1989 and immediately began appearing on other lists of top public courses in the country.

What they’re saying: Officials at the course mentioned several factors in the decision to close. In a statement, the club explained that “a combination of the weather, the well on hole sixteen collapsing, the watering system needing to be rebuilt, and ongoing financial losses” led to the closure.