Sat Feb 04 2023
This week the median list price for Rancho Mirage, CA is $1,174,500 with the market action index hovering around 35. This is an increase over last month's market action index of 34. Inventory has increased to 128.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,174,500|
|Median Price of New Listings||$1,350,000|
|Per Square Foot||$456|
|Average Days on Market||83|
|Median Days on Market||63|
|Slight Seller's Advantage|
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,350,000||4,591||0.5 - 1 acre||4||4.5||17||5||5||77|
|$1,549,500||3,261||0.25 - 0.5 acre||3||3.5||22||3||7||59|
|$993,000||2,560||8,000 - 10,000 sqft||3||3||32||2||3||56|
|$797,000||2,023||6,500 - 8,000 sqft||3||3||20||3||4||63|