In January 2024, we noticed something interesting with the Palm Springs real estate market—home prices in the desert city increased by 2.4% compared to last year. This made the average cost of a house hitting the Palm Springs market $665,000. You might wonder, why the increase?
The answer is simple—Palm Springs has a unique mix of things that make living there great. It has sunny weather, an active lifestyle, and friendly people. These are things you don’t see everywhere. Palm Springs is more than just a city to live in. It is a city where people can enjoy their lives.
What about Palm Springs makes it a great place to live?
Palm Springs is a great place to live for many simple reasons. The weather here is warm and sunny almost every day of the year. This means you can go outside and enjoy walking, riding bikes, and playing golf whenever you want. The city is also famous for its exciting art, friendly communities, and beautiful landscapes. Palm Springs is where you can relax, have a good time, and join a warm and welcoming community.
Though many see it as a vacation destination, living in Palm Springs brings many benefits. Palm Springs is a fantastic city with year-round tropical weather, a unique cultural identity, beautiful nature and all of the amenities and convenience of a metropolitan city without the hassle of living in a busy city. Plus, with home values steadily increasing, buying a home in Palm Springs can also be a brilliant financial decision.
Even if you are not ready to make the major financial investment of buying a home, you can still consider buying an investment property in the city as a traditional or long-term rental. Palm Springs gets tons of tourists throughout the year, which means you can earn a lot of money in passive income due to high demand.
It may surprise you, but many want to move to Palm Springs. An impressive 6% of people looking to buy a house and move are eyeing Palm Springs from cities like San Francisco, New York, and Seattle. Clearly, Palm Springs is the place to be, not only for its locals and residents but also for people all over the country looking for a new and better lifestyle.
Are you considering Palm Springs as your new home? Contact me today!
If you are thinking about moving or buying a house, see what Palm Springs has to offer. It has beautiful weather, a strong sense of community, and a lifestyle that’s balanced, fulfilling, and rich in opportunities. And with home values on the rise, it’s a good time to buy a home in this sunny desert oasis.
As your local real estate guide, I’m here to help you look at homes in Palm Springs and find the one that fits you best. Whether you want a small, cozy bungalow or a large estate, Palm Springs has many options. Let’s help you find your dream home in Palm Springs.
