Rancho Mirage Real Estate Market Trends For Condos 92270
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(Scroll over these charts with your mouse to get exact numbers and find lots of cool info!)
Rancho Mirage Condos: Average Days On Market Per Quartile
Rancho Mirage Condos: Median Price Per Sq Ft Per Quartile
Rancho Mirage Condos: Market Action Index Per Quartile
"The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller's Market” (a.k.a. "Hot Market") because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "Cold Market") where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall."
Keep in mind that an MAI value close to "30" probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it's likely to be either a buyer's market or seller's market based on the individual street or home area that a particular property is in.