The Munselle Group
Rancho Mirage, CA 92270
Condos/Townhomes
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 $395,000 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has held steady at or around 99.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $395,000 | |
| Per Square Foot | $212 | |
| Days on Market | 105 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 99 | |
| Median Apartment Rent | $4,000 | |
| Most Expensive | $1,099,000 | |
| Least Expensive | $168,000 | |
| Market Action Index Slight Seller's Advantage | 38 |
We continue to see prices in this zip code bounce around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $534,950 | 2,539 | 4,500 - 6,500 sqft | 3 | 3 | 35 | 0 | 1 | 66 |
| $429,950 | 2,100 | 0 - 4,500 sqft | 3 | 2 | 41 | 3 | 1 | 117 |
| $370,000 | 1,681 | 0 - 4,500 sqft | 3 | 2 | 42 | 2 | 4 | 97 |
| $270,000 | 1,384 | 0 - 4,500 sqft | 2 | 2 | 42 | 2 | 2 | 136 |