Rancho Mirage, CA 92270 Market Report for the Week of October 15, 2012

The median list price in RANCHO MIRAGE, CA 92270 this week is $799,000.

Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply and Demand

The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

Price

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

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