Sun Aug 01 2021
This week the median list price for Rancho Mirage, CA 92270 is $499,999 with the market action index hovering around 83. This is an increase over last month's market action index of 81. Inventory has decreased to 17.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$499,999|
|Median Price of New Listings||$550,000|
|Per Square Foot||$273|
|Average Days on Market||35|
|Median Days on Market||14|
|Strong Seller's Market|
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$824,000||2,821||6,500 - 8,000 sqft||3||3||39||0||0||24|
|$567,500||2,091||0 - 4,500 sqft||3||2||44||3||2||0|
|$489,999||1,128||0 - 4,500 sqft||3||2||42||0||1||14|
|$399,000||1,700||0 - 4,500 sqft||3||2||44||2||3||14|