The Munselle Group
Rancho Mirage, CA 92270
Condos/Townhomes
www.themunsellegroup.com| 760-772-2411
Rancho Mirage, CA 92270
Tue Oct 19 2021
This week the median list price for Rancho Mirage, CA 92270 is $524,450 with the market action index hovering around 68. This is less than last month's market action index of 74. Inventory has increased to 28.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $524,450 | |
| Median Price of New Listings | $519,900 | |
| Per Square Foot | $297 | |
| Average Days on Market | 37 | |
| Median Days on Market | 21 | |
| Price Decreased | 18% | |
| Price Increased | 4% | |
| Relisted | 11% | |
| Inventory | 28 | |
| Median Rent | $4,600 | |
| Market Action | 68 | |
| Strong Seller's Market | ||
While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $819,000 | 2,736 | 4,500 - 6,500 sqft | 3 | 3 | 42 | 4 | 1 | 0 |
| $629,000 | 1,621 | 0 - 4,500 sqft | 3 | 2 | 44 | 1 | 1 | 21 |
| $475,000 | 1,690 | 0 - 4,500 sqft | 3 | 2 | 44 | 1 | 0 | 77 |
| $329,000 | 1,535 | 0 - 4,500 sqft | 2 | 2 | 40 | 5 | 3 | 0 |