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Market Trends
Commentary Provided byTop Agent The most expensive home sold in Rancho Mirage in 2009 to date was a 4.5 million dollar home sold at Mirada Estates. |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | |||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | 60-90 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $375,000 - View Graph Trend | ||
| Best Selling Price Range | |||
| Worst Selling Price Range | |||
| Compared to Last Year | Down 0-5% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | Yes | ||
| Greatest Activity | First Time Buyers | ||
| Buyer Activity for the past 90 days in Rancho Mirage is | |||
| Seller Activity for the past 90 days in Rancho Mirage is | |||
| Is Financing Available For Qualified Buyers in Rancho Mirage? | |||
| Existing Home Prices for the past 90 days are | |||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | |||
| Housing Hot Spots | The lowest priced homes and condos are selling first. Mostly bank owned or short sales. Of the 74 homes & condos sold in Rancho Mirage from Jauary 1- March 21st - 30 were under $400,000. There are currently 58 homes and condos under contract in the Rancho Mirage market. | ||
| Reason to Buy/Sell | Other | ||
| Average Sold Price | $375,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Rancho Mirage Local News
News for Rancho Mirage, CA - Tuesday June 23rd, 2009 5:39pm
Sales Stats for May and June 2009:
May Stats For Rancho Mirage:
688 Homes and Condos for sale
12 In Escrow
48 Sold
June Stats as of 6/23/09:
687 on the market
47 Homes in Escrow and 25 sold
Market activity is up and significantly for Rancho Mirage homes in the 500K and up category posted their first gain since 2008!
Low interest rates and stellar deals make it a good time to start looking.
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1-888-832-2244