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

Mon Oct 03 2022
This week the median list price for Rancho Mirage, CA is $1,200,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has increased to 95. 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.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Rancho Mirage, CA

Mon Oct 03 2022
This week the median list price for Rancho Mirage, CA is $1,200,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has increased to 95. 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.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Rancho Mirage market.
Median List Price $1,200,000
Median Price of New Listings $1,044,500
Per Square Foot $440
Average Days on Market 59
Median Days on Market 42
Price Decreased 51%
Price Increased 3%
Relisted 8%
Inventory 95
Median Rent
Market Action 38
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.

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
$2,999,000 4,625 0.5 - 1 acre 4 4.5 22 2 1 21
$1,495,000 3,023 0.25 - 0.5 acre 3 3 35 2 7 35
$995,950 2,540 0.25 - 0.5 acre 3 3 21 2 2 49
$763,531 1,990 6,500 - 8,000 sqft 3 2.5 19 4 0 63