Rancho Mirage Real Estate & Homes for Sale

In November 2024, the median home price in Rancho Mirage rose to $932,000, a 10.7% increase from the previous year, showing strong growth in home values. Homes are selling a bit faster, taking an average of 64 days on the market compared to 70 days last year. However, the number of homes sold dropped to 46 this November from 62 last year, which could mean fewer homes are available or buyers are being more selective. Despite the drop in sales, the rising prices and shorter market times reflect steady demand in this desirable area.

The Rancho Mirage housing market is not highly competitive, with homes typically selling in about 67.5 days. Multiple offers are uncommon, and most homes sell for around 3% below the list price, going under contract in roughly 68 days. However, "hot homes" that stand out in the market can sell for around the list price and go pending in as little as 29 days, showing that desirable properties still attract buyer interest more quickly.

In November 2024, Rancho Mirage, CA, was a balanced market, indicating that the number of homes for sale closely matched the demand from buyers. This creates a stable environment where neither buyers nor sellers have a significant advantage. Homes are selling at a steady pace, and prices remain relatively consistent, making it a favorable time for both buyers to find options and sellers to attract serious offers.