Is Rancho Mirage, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rancho Mirage has remained a Seller's Market.
Housing Prices in Rancho Mirage, CA
How much do homes in Rancho Mirage, CA cost?
Median Sold Price
$863,962
$385/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rancho Mirage was $863,962 in April 2024, up 0.5% from last year, and the median price per square foot was $385.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $318.5K | $315K | -1.1% |
2 Bedrooms | $560K | $638.6K | +14.0% |
3 Bedrooms | $846.5K | $888.8K | +5.0% |
4 Bedrooms | $1.5M | $1.4M | -4.9% |
5+ Bedrooms | $2.1M | $2.5M | +17.4% |
Summary: Rancho Mirage housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Cities
Rancho Mirage | $860K | $863.9K | 0.5% |
Cathedral City | $490K | $490K | 0.0% |
Cathedral City-Palm Desert | $674K | $673K | -0.2% |
Palm Desert | $599.8K | $571.9K | -4.7% |
Housing Supply in Rancho Mirage, CA
How many homes are available in Rancho Mirage, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
419 | 445 | +6.2% |
Summary: The Rancho Mirage real estate market had 445 homes for sale in April 2024, a 6.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 7 | 0.0% |
2 Bedrooms | 97 | 105 | +8.2% |
3 Bedrooms | 205 | 209 | +2.0% |
4 Bedrooms | 79 | 87 | +10.1% |
5+ Bedrooms | 31 | 37 | +19.4% |
Summary: The Rancho Mirage housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
73 | 98 | +34.2% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 98 homes were sold or pending in Rancho Mirage in April 2024, up by 34.2% month-over-month. Of the 98 sold homes, 65% were sold under asking, 24% were sold at asking, and 10% were sold over asking.
Days on Market for Rancho Mirage, CA
How long does it take to sell a home in Rancho Mirage, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
49 Days | 58 Days | +18.8% |
Summary: Homes in Rancho Mirage had an average of 58 days on market in Apr 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Summary: During April 2024, 98 homes were sold in Rancho Mirage; 35% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.