The median list price in RANCHO MIRAGE, CA 92270 this week is $785,000.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. While still a Buyer’s market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller’s Market.
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
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For more information regarding luxury homes in Rancho Mirage, CA, contact Claudine Messika.
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Are you thinking of putting the home you own in Palm Springs on the market ? Now ? Later ? When is the right time ?
Like for everything else there is no better time than NOW! This is of course if you have a situation and/or difficulties ; why keep that property that costs you $$$$$ each month ? Is the time of postponing the selling justified by the increase we might in Palm Springs Real Estate market in the next few months ?
I don’t know I don’t have the cristal ball, but all the cards showing today lean towards a YES the prices will go up towards next season. BUT would that increase cover and justify your set back for 4 to 5 months ?
Mr. Seller or future Seller, the real buyers are right now in town and will be here all summer to BUY condos, or single family homes in Palm Springs, Rancho Mirage or Palm Desert. They are ready and want to take advantage of the market. Does it make sense for you to wait and sit with 70% of the sellers doing just like you waiting for the season and be out there with the crowd praying to get showings because of a greater number of homes on the market.
These are my thoughts…let me know yours and let’s talk