The Munselle Group
Rancho Mirage, CA 92270
Condos/Townhomes
www.themunsellegroup.com| 760-772-2411
Rancho Mirage, CA 92270
Wed Jan 20 2021
This week the median list price for Rancho Mirage, CA 92270 is $409,000 with the market action index hovering around 43. This is an increase over last month's market action index of 40. Inventory has held steady at or around 63.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $409,000 | |
| Per Square Foot | $224 | |
| Days on Market | 115 | |
| Price Decreased | 30% | |
| Price Increased | 3% | |
| Relisted | 10% | |
| Inventory | 63 | |
| Median Rent | $4,000 | |
| Most Expensive | $1,499,000 | |
| Least Expensive | $178,000 | |
| Market Action | 43 | |
| Slight Seller's Advantage | ||
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 |
|---|---|---|---|---|---|---|---|---|
| $539,000 | 2,324 | 0 - 4,500 sqft | 3 | 3 | 41 | 2 | 6 | 61 |
| $445,000 | 1,794 | 0 - 4,500 sqft | 3 | 2 | 44 | 2 | 1 | 103 |
| $377,000 | 1,722 | 0 - 4,500 sqft | 3 | 2 | 44 | 0 | 3 | 166 |
| $327,500 | 1,564 | 0 - 4,500 sqft | 2 | 2 | 45 | 1 | 3 | 126 |