Kevin Stern / Town Real Estate

Rancho Mirage, CA

Single-Family Homes

www.TownCA.com | 760-250-1977 | kevin@kevinstern.com | CalDRE #01376548



Rancho Mirage, CA

Sun May 29 2022
This week the median list price for Rancho Mirage, CA is $1,285,000 with the market action index hovering around 75. This is an increase over last month's market action index of 72. Inventory has held steady at or around 45. Click here to stay informed with the Rancho Mirage market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Rancho Mirage, CA

Sun May 29 2022
This week the median list price for Rancho Mirage, CA is $1,285,000 with the market action index hovering around 75. This is an increase over last month's market action index of 72. Inventory has held steady at or around 45. Click here to stay informed with the Rancho Mirage market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Rancho Mirage market.
Median List Price $1,285,000
Median Price of New Listings $1,197,500
Per Square Foot $495
Average Days on Market 49
Median Days on Market 21
Price Decreased 29%
Price Increased 7%
Relisted 9%
Inventory 45
Median Rent
Market Action 75
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,750,000 5,634 0.5 - 1 acre 5 5 19 3 4 63
$1,799,000 3,088 0.25 - 0.5 acre 3 3 33 2 5 14
$1,195,000 2,667 0.25 - 0.5 acre 3 3 22 3 3 14
$872,500 2,082 6,500 - 8,000 sqft 3 2.8 27 4 2 17