PALM SPRINGS, Calif. – Alan Bloom of Berkshire Hathaway HomeServices California Properties completed a record-breaking year in sales last year as Palm Springs transitioned from a traditionally second-home resort town to a primary home market.
Bloom and his team finished 2020 with nearly 40 home transactions, a significant increase from the team’s 25 closings in 2019. In all, Bloom recorded 20 percent growth in sales volume compared to his total sales the prior year.
“Watching how much the Palm Springs market changed throughout a year that so many thought would have been catastrophic for real estate was incredible,” said Bloom, who is widely considered as one of Palm Springs’ top luxury sales executives. “The transition to working remotely encouraged many people to move to places like Palm Springs that have always been regarded as second-home markets. The living trends of 2020 has certainly shaped the industry dramatically and has driven the luxury market in ways I could have never imagined.”
Bloom recorded 20 percent growth in sales volume compared to his total sales the prior year.
Bloom said the number of once-city dwellers who moved to Palm Springs in 2020 was staggering. “I was meeting people from L.A. or the Bay Area who were working from home and wanted to move outside the city where home prices were not as high,” Bloom said. “People are starting to see that you can move to a beautiful resort-style area like the Coachella Valley where homes are substantially more affordable by California’s standards.”
Bloom said with an influx of new residents and a higher-than-normal demand for spacious homes, Palm Springs’ inventory decreased in recent months. He said the challenge for his team and other sales executives in the area has been to sift through the multiple offers each property gets, often within just a few days of listing the home.
“In a normal year, we would see up to six months of inventory, but Palm Springs only has about 30 days of inventory available right now. Hopefully we’ll start seeing more properties come onto the market and new developments begin construction throughout February to meet demand,” Bloom said.
In response to the increased interest in moving to Palm Springs, Bloom said he took to social media to help prospective residents learn more about the world-renowned city. In 2020, he started a social media campaign of virtual tours to showcase Palm Springs’ 26 neighborhoods, including Old Las Palmas, Little Tuscany, Vista Las Palmas and Deepwell Estates.
“I started this series because it seemed like everyone I talked to who was looking to move to Palm Springs had the same questions – What are the neighborhoods like? What can you do here? What is the culture like?” Bloom said. “It has been great to feature the local communities and show people what really makes this town so unique.”
Following the virtual tours of the neighborhoods, Bloom said he plans to showcase Palm Springs’ new developments that are being planned for this year, as well as highlight popular spots to dine, shop and relax throughout the city.
“Alan’s incredible success in 2020 and his ability to adapt to the changing trends in the Southern California markets is admirable,” said Gordon Miles, president and COO of Americana Holdings, parent company of Berkshire Hathaway HomeServices California Properties. “That kind of motivation combined with his deep appreciation for the desert communities’ unique history has certainly made him one of the most productive luxury home sales executives in Palm Springs.”
To learn more about Berkshire Hathaway HomeServices California Properties, visit www.bhhscaproperties.com. For more information about Bloom and Alan Bloom & Associates, visit www.alanbloomrealtor.com.
ABOUT BERKSHIRE HATHAWAY HOMESERVICES CALIFORNIA PROPERTIES
Berkshire Hathaway HomeServices California Properties, operated by Americana Holdings, has offices in Anaheim Hills, Indian Wells, La Quinta, Palm Desert, Palm Springs, Rancho Cucamonga and Yorba Linda.
Americana Holdings is the largest independently owned Berkshire Hathaway HomeServices franchise in the world. The company operates in three states with 3,500 real estate sales executives and 37 offices. In 2020, the firm completed a record-breaking $7.2 billion in residential home sales.
Fortune magazine named Berkshire Hathaway the third most admired brand in the world in 2019 and it recently entered the Inc 5000 Hall of Fame for being named one of America’s fastest-growing private companies for five years. For more information, visit www.bhhscaproperty.com.