The year 2020 set people on the move. Many saw an opportunity to impact the future from a livable, wide-open place where visionaries and innovators thrive.
Though few could have imagined it, the sudden chance to flee a city and set up shop remotely served as a potent catalyst. In a hot desert minute, urban office desks that once meant lifelines to a paycheck were swapped for abundant nature and affordable property. Hello, fabulous home office and million-dollar mountain views.
Settling into a destination that feels like a vacation was an exciting lifestyle choice many had anticipated making later — or hadn’t even considered. Weekend retreats became primary homes. Locals who had left for a job offer returned. City dwellers eager to spend more time in Greater Palm Springs came, saw, bought dream homes for a fraction of what they could actually afford, and stayed. With routines and priorities upended, our new residents adopted ones that suited them even better.
So, you’re not the only one working remotely from paradise.
This classic escape has never been more relevant for those with flexible work options. Promising every convenience for the modern #WFH lifestyle, it’s also a bargain compared to the cities and the coasts, yet accessible to both.
Homebuyers have been thrilled to see their real estate dollars stretch farther, fetching quality and style above their expectations.
The first seven months of the pandemic triggered single-family home sales in the Coachella Valley to surge 56 percent over the same period a year earlier. Each of our nine cities saw year-over-year sales increases as reported by end-of-year statistics from the California Desert Association of Realtors.
Detached homes in luxury communities with a selling price of $600,000 and up were in high demand, according to the real estate research firm Market Watch LLC, but condos were flying off the market, too. The real estate rush is real. Buyers from Los Angeles, the Bay Area and Silicon Valley, San Diego, Orange County, and the Pacific Northwest on out to Chicago and New York took advantage of prices far lower than their hometown listings. Houses priced between $1 million and $2 million were up 62 percent by the end of 2020.
Inventory is at a premium, but sellers who initially needed time to prepare their homes are replenishing the listing pool. And renewed confidence among builders will bring energy-efficient green homes to the housing market, designed with smart technology and multiple indoor-outdoor spaces for year-round bliss. Favorable interest rates still signal a solid time to invest in a brighter future.