Market Report from Cathi Walter
Rancho Mirage, CA 92270
Single-Family Homes
760.218.5752 | Cathi@DesertAreaHomeFinder.com
Rancho Mirage, CA 92270
Sat Apr 20 2024
This week the median list price for Rancho Mirage, CA 92270 is $1,375,000 with the market action index hovering around 34. This is an increase over last month's market action index of 33. Inventory has increased to 187.
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 | $1,375,000 | |
| Median Price of New Listings | $1,395,000 | |
| Per Square Foot | $488 | |
| Average Days on Market | 85 | |
| Median Days on Market | 56 | |
| Price Decreased | 42% | |
| Price Increased | 2% | |
| Relisted | 13% | |
| Inventory | 187 | |
| Median Rent | ||
| Market Action | 34 | |
| Slight Seller's Advantage | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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 |
|---|---|---|---|---|---|---|---|---|
| $3,785,000 | 4,993 | 0.5 - 1 acre | 4 | 5 | 22 | 4 | 1 | 56 |
| $1,595,000 | 3,200 | 0.25 - 0.5 acre | 3 | 3 | 31 | 4 | 1 | 42 |
| $1,150,000 | 2,667 | 0.25 - 0.5 acre | 3 | 3 | 26 | 6 | 4 | 49 |
| $830,000 | 2,008 | 6,500 - 8,000 sqft | 3 | 2.5 | 22 | 1 | 5 | 77 |