Wed Sep 22 2021
This week the median list price for Rancho Mirage, CA 92270 is $1,197,000 with the market action index hovering around 57. This is less than last month's market action index of 61. Inventory has held steady at or around 68.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$1,197,000|
|Median Price of New Listings||$950,000|
|Per Square Foot||$418|
|Average Days on Market||61|
|Median Days on Market||35|
|Strong Seller's Market|
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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,995,000||6,742||0.5 - 1 acre||5||5||16||1||0||56|
|$1,350,000||3,129||0.25 - 0.5 acre||3||3||20||4||7||35|
|$975,000||2,812||0.25 - 0.5 acre||4||3||21||5||2||21|
|$719,000||2,324||8,000 - 10,000 sqft||3||2||22||3||6||28|