Is Rancho Mirage, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Rancho Mirage has remained a Seller's Market.
Key Takeaway
Rancho Mirage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Rancho Mirage, CA cost?
Median Sold Price
$853,857
$375/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$26,078(+3.2%)
Key Takeaway
Homes in Rancho Mirage have sold for 3.2% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | $266K | $318.5K | +19.7% |
| 2 Bedrooms | $487.5K | $570K | +16.9% |
| 3 Bedrooms | $805K | $840.8K | +4.5% |
| 4 Bedrooms | $1.3M | $1.5M | +13.4% |
| 5+ Bedrooms | $1.9M | $2.1M | +7.5% |
Median Sold Price Compared To Nearby Cities
| Cathedral City-Palm Desert | $616.2K | $667.5K | +8.3% |
| Palm Desert | $550.7K | $592.4K | +7.6% |
| Cathedral City | $469.5K | $488K | +3.9% |
| Rancho Mirage | $827.7K | $853.8K | +3.2% |
How many homes are available in Rancho Mirage, CA?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 342 | 351 | +2.6% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 99 | 104 | +5.1% |
| 3 Bedrooms | 154 | 162 | +5.2% |
| 4 Bedrooms | 68 | 65 | -4.4% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 70 | 82 | +17.1% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rancho Mirage, you may be able to get a good deal. 63.4% of homes here sold below asking price last month.
How long does it take to sell a home in Rancho Mirage, CA?
How long does it take to sell a home in Rancho Mirage, CA?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 30 Days | 58 Days | +90.8% |
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Rancho Mirage has remained consistent over time.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.