Oct. 28 Daily Briefing: Latest housing report, fire station 3 improvements, and more

Happy Monday, everyone, where we think we have good news for fans of lower fuel prices (which should be everyone). At the end of last week’s City Council meeting, officials were informed that while the Dec. 12 meeting should be largely ceremonial to swear in new members and a new mayor, one item does need to be approved. That item deals with the construction of a fuel station on tribal land near the intersection of Gene Autry Trail and Dinah Shore Road. The tribe’s existing stations have the most competitive rates in the valley. So, coupled with the soon-to-open Walmart fuel station nearby, it looks like we’ll be getting a bit more relief at the pump before too long.

🎶 Setting the mood: “Somebody’s Watching Me” by Rockwell

LEADING OFF

Home prices in city drop by 9% as market cools

Palm Springs’ real estate market is showing clear signs of cooling, with average home prices dropping 9% compared to last year, according to the September 2024 Desert Housing Report.

Driving the news: The September 2024 Desert Housing Report indicates a significant cooling in Palm Springs’ real estate market, with average home prices dropping 9% from the previous year. 

• This downturn is accompanied by an increase in inventory, longer selling times, and larger price discounts, signaling a shift towards a buyer’s market.

Why it matters: Palm Springs is experiencing one of the most pronounced market slowdowns in the Coachella Valley. The average price for a typical 2,175-square-foot detached home has fallen to $1.16 million, down $120,000 from last year.

• The cooling trend is reflective of broader regional shifts, but Palm Springs is feeling the impact more acutely.

By the numbers: The report shows the city’s housing inventory rose to 552 homes for sale, up from 432 last year, with properties now selling at an average discount of 3.1% below list price.

• The median days on market for properties has increased to 52 days, indicating longer selling times compared to the valley average of 49 days.

Bigger picture: While Palm Springs maintains its position as the city with the second-highest unit sales in the Coachella Valley, the overall volume of dollar sales has declined by 23%, underscoring the extent of the market’s slowdown.

• This trend is part of a larger pattern across the valley, where sales are 33.5% below normal levels, and the median price of a detached home has decreased for the fifth consecutive month.

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IN OTHER NEWS

🚒 The Palm Springs Fire Department is planning a significant renovation for Fire Station 3, reports NBC Palm Springs. Built nearly 50 years ago for just two firefighters, the station needs to accommodate more personnel and resources in order to improve response times for the busy northern section of the city it serves.

🚨 Palm Springs police officers responded to reports of gunfire in the 200 block of North Palm Canyon Drive at approximately 1:44 a.m. Saturday and located two victims involved in what the department said was an attempted homicide. 

🏈 Palm Springs High School’s football team came up on the losing end of a 35-6 contest with Palm Desert during a homecoming game Friday night, reports Andrew John of The Desert Sun. Palm Springs is  now 3-6 (0-4 in league) and will end its season in the Ramon Road Rivalry game at Rancho Mirage on Friday.

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TODAY’S FEATURED EVENTS

Lunch Club 
12 p.m. | Eight4Nine Restaurant & Lounge  
The Greater Coachella Valley Chamber of Commerce is proud to present the Lunch Club at Eight4Nine in Palm Springs. This fun networking opportunity mixes two member favorites: business connections and great food!  

Visions of Desire
12 p.m. – 8 p.m. | Cultural Center  
Tom of Finland Foundation presents a special exhibition of original artworks by Tom of Finland, one of the most iconic LGBTQ+ artists of the twentieth century.

Alzheimer’s/Dementia Caregiver Support Group
3 p.m. | Mizell Center  
This weekly support group offers a safe, confidential, supportive environment for individuals caring for a loved one with Alzheimer’s Disease or Dementia. All caregivers are welcome.  

CalComMen’s Monday Coffee  
5 p.m. | Play Lounge & Cafe 
Join us for coffee, chat & chew! Drop in … no RSVP required. Play Lounge & Cafe has a drink and snack Happy Hour menu! See old friends, make new ones.  

LCAP Parent Advisory Council
5 p.m. | PSUSD Headquarters 
This meeting is for parents and community members to provide input on the goals of the Local Control and Accountability Plan.  

Mon Petit Salon
5 p.m. | Cultural Center  
Come on up to the VIP lounge at the Palm Springs Cultural Center and enjoy an evening of live music from the award-winning team from the high desert: Mon Petit Mojave. ($22)

Parks and Recreation Commission
5:30 p.m. | Palm Springs City Hall  
The Commission typically meets on the fourth Monday of each month at 5:30 p.m. The Commission functions in an advisory capacity to the City Council on parks and recreational services and facilities.

Malunggay (Moringa) Workshop
6 p.m. | Isabel’s Naturals 
Chef Michelle Castillo will teach you delicious ways to cook and prepare Malunggay (moringa) and share its health properties. You’ll enjoy tasting the dishes, help prepare a recipe, & leave with a moringa bundle grown & harvested from Chef Michelle’s own garden. ($42-$55)

PALS Circle
6 p.m. | Virtual 
PALS (Planning Ahead for LGBTQ+ Seniors) Circle is an informal weekly Zoom drop-in for connection and support. There is no agenda, no topic – like getting together with friends every week.  

Fabulous Bingo with Bella Da Ball  
7 p.m. | Kings Highway at Ace Hotel  
Join hostess Bella Da Ball for this fabulous weekly Bingo game.

SAVE THE DATE

• Halloween Carnival & Haunted House at James O. Jessie Desert Highland Unity Center on Wednesday.
  
  
• Greater Palm Springs Pride from Friday through Sunday.
  
  
• La Cage Aux Folles at Palm Canyon Theatre starting Friday.
  
  
• Palm Springs Pride 5K Run & Walk on Saturday.
  
  
• Deep Pit BBQ at Los Compadres Stables on Saturday.
  
  
• Palm Springs Food & Wine Festival on Nov. 9 and 10.
  
  
• Desert Air on Nov. 15 and 16.
  
  
• Kewet Native American Learning Day and Market on Nov. 16.