The Munselle Group
Rancho Mirage, CA 92270
Single-Family Homes
www.themunsellegroup.com| 760-772-2411
Rancho Mirage, CA 92270
Mon Nov 11 2019
This week the median list price for Rancho Mirage, CA 92270 is $762,450 with the market action index hovering around 29. This is less than last month's market action index of 31. Inventory has held steady at or around 292.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $762,450 | |
| Per Square Foot | $266 | |
| Days on Market | 172 | |
| Price Decreased | 36% | |
| Price Increased | 3% | |
| Relisted | 16% | |
| Inventory | 292 | |
| Median House Rent | $4,000 | |
| Most Expensive | $12,995,000 | |
| Least Expensive | $264,900 | |
| Market Action Index Slight Buyer's Advantage | 29 |
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,285,000 | 5,238 | 0.5 - 1 acre | 4 | 5 | 19 | 4 | 2 | 263 |
| $989,000 | 3,524 | 0.25 - 0.5 acre | 3 | 3 | 18 | 7 | 4 | 172 |
| $649,000 | 2,893 | 8,000 - 10,000 sqft | 3 | 3 | 36 | 8 | 5 | 120 |
| $489,000 | 2,235 | 6,500 - 8,000 sqft | 3 | 3 | 35 | 9 | 9 | 131 |