Anticipated Highlights and Trends in Coachella Valley for 2024

Let’s explore upcoming events and examine potential real estate market trends in the Coachella Valley for 2024.

The Coachella Valley area is a hotspot for events, annually hosting several world-renowned spectacles. As we move deeper into 2024, many of the region’s most significant and exciting festivities loom on the horizon.

Palm Springs, the most renowned city in the Coachella Valley, stands out for its numerous events throughout the year. Modernism Week, a sprawling series of events in Palm Springs, showcases the city’s remarkable architecture through tours, panels, and more. Other major occasions in Palm Springs include the Palm Springs International Film Festival and The American Express PGA Tour. 

The Coachella Valley Music and Arts Festival, arguably the best-known event in the region, unfolds at the Empire Polo Fields in Indio from April 12th through 14th and the 19th through the 21st. Simply known as Coachella, this year’s lineup features prominent names such as Lana Del Rey, Doja Cat, Tyler the Creator, and J Balvin. Stagecoach is shortly after Coachella, from April 26th through 28th. Dubbed “California’s Country Music Festival,” Stagecoach will feature Eric Church, Miranda Lambert, Morgan Wallen, Post Malone, and many more this year.

In recent years, Coachella Valley has emerged as a highly sought-after real estate destination. Home values have skyrocketed, particularly in cities such as Palm Springs. The region’s popularity has prompted some to view Coachella Valley as a lucrative investment opportunity, purchasing homes to be rented out at premium rates during peak seasons. However, 2024 may signal a shift in this real estate surge.

While home prices largely remain elevated in Palm Springs, certain indicators suggest a potential slowdown in the city’s market pace. According to a Newsweek article from December 2023, a Palm Springs home that sold for $1,400,000 in March of 2023 was re-listed just months later and eventually sold for half the initial price. Also, new regulations in Palm Springs and surrounding areas have aimed to curb short-term rentals. 

While the Palm Springs market has had to navigate changes, it retains all the elements to entice buyers. The homes in Palm Springs offer some of the most stunning architecture nationwide, and the enduring great weather, shops, restaurants, and scenery are not going anywhere in 2024. While the next year for Palm Springs holds an element of unpredictability, it remains an immensely appealing market.