Palm Springs, CA, June 6, 2017 (Newswire.com) – Aspire Homes President & CEO Daniel N. Bailey released his bullish analysis of the Palm Springs custom home residential market today.
Aspire Homes focuses on construction of Mid-Century Modern custom homes in Palm Springs.
“The Palm Springs residential real estate market doesn’t seem to follow predictable trends. Just fifteen years ago, the Palm Springs market was stumbling. Today, the Mid-Century modern custom home design is thriving in the market. We are approaching the highs we last experienced in 2006.” Bailey stated.
Bailey believes one of the driving forces behind Palm Springs resurgence has been the focus City leaders have put on preservation of its mid-century modern architecture.
In addition to the City’s focus on preservation of it’s architectural past, both City and civic leaders have united to create numerous promotional events such as Modernism Week that brings tens of thousands of visitors to Palm Springs annually to celebrate the historic Mid-Century Modern architecture and lifestyle.
“You would be hard pressed to find another city in America that celebrates its architectural history and style, and works so hard to preserve it as Palm Springs does.” Bailey added.
Bailey noted that the Palm Springs single-family median price, which plummeted in the late 2000’s after achieving a record high in the mid-2000, is coming back strong.
“In 2006, the median price for a single family home in Palm Springs hit a record high of $600,000. By 2011, the median price had plummeted to $335,000. In 2017, we see the median price has rocketed back up to $559,000, just 7% off of the record 2006 highs. I fully expect by 2018, Palm Springs will be setting new records in its median home pricing.” Bailey said.
Aspire Homes, a custom home building company focusing on Mid-Century Modern designed homes, is a part of the HollyHills Development family of companies.
For more information about Aspire Homes and their Cielo project, visit their Website at Aspirehomes-ps.com or contact Leaskou Partners at 760-799-4290.
For more information contact:
T. J. Connolly
Source: Aspire Homes