Market Report from Cathi Walter

Rancho Mirage, CA 92270

Single-Family Homes

760.218.5752 | Cathi@DesertAreaHomeFinder.com



Rancho Mirage, CA 92270

Sun Oct 06 2024
This week the median list price for Rancho Mirage, CA 92270 is $1,195,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has increased to 165. Click here to stay informed with the Rancho Mirage market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Rancho Mirage, CA 92270

Sun Oct 06 2024
This week the median list price for Rancho Mirage, CA 92270 is $1,195,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has increased to 165. Click here to stay informed with the Rancho Mirage market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Rancho Mirage market.
Median List Price $1,195,000
Median Price of New Listings $1,149,000
Per Square Foot $453
Average Days on Market 93
Median Days on Market 63
Price Decreased 37%
Price Increased 2%
Relisted 14%
Inventory 165
Median Rent
Market Action 33
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. 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
$3,400,000 4,500 0.5 - 1 acre 4 4.5 20 3 5 91
$1,395,000 3,052 0.25 - 0.5 acre 3 3 29 4 4 35
$995,000 2,598 8,000 - 10,000 sqft 3 3 33 1 5 84
$779,000 1,846 6,500 - 8,000 sqft 3 2 21 7 5 63