Rancho Mirage Real Estate Market Report - March 21, 2025

[Marius Olbrych]

Hey BiggerPockets fam! I’ve been crunching the latest Rancho Mirage market data, and one thing’s jumping out: price drops are everywhere. Let’s dive into why this could be a prime moment to snag some inventory or flip deals.

Market Spotlight: Price Drops Steal the Show

• Median List Price: $775,000
  The median’s holding at $775K—solid for a luxury-leaning market like Rancho Mirage.
• Median Price of New Listings: $662,400
  New stuff’s hitting at $662K, a notch below the overall median—sellers might be getting realistic.
• Price Per Square Foot: $368
  At $368/sqft, it’s a workable base for flips or rentals in this SoCal gem.
• Price Decreased: 48%
  Here’s the kicker—48% of listings have slashed prices. That’s nearly half the market signaling deals could be ripe for the picking!
• Average Days on Market: 88
  Homes are averaging 88 days—stuff sitting longer might be begging for offers.
• Median Days on Market: 49
  But half sell in under 49 days, so the well-priced gems move fast.
• Inventory: 391 homes
  With 391 options, you’ve got plenty to sift through for the right play.
• Median Rent: $5,000
  Rentals at $5K/month mean cash flow’s on the table too.
• Market Action Index: 33
  At 33, it’s a slight seller’s market, but those price cuts tell me buyers have room to flex.

Why Now’s Looking Good

That 48% price-drop stat is screaming opportunity. Sellers are adjusting—maybe they overreached, or maybe they’re just ready to move. Either way, it’s a green light for investors. If you’re into flips, those $662K new listings paired with $368/sqft could be your sweet spot—grab something under market, fix it up, and ride the luxury vibe Rancho Mirage is known for. For buy-and-hold folks, the $5K median rent plus a discounted buy-in could juice your cash flow, especially with the seasonal crowd here.

The 88-day average DOM says some properties are lingering—perfect for lowball offers on stale listings. Meanwhile, the 49-day median shows demand’s still there for the right price. With 391 homes in play, you’ve got options to cherry-pick the best deals.

What’s Your Move?

Anyone else seeing this as a buyer’s window in Rancho Mirage? I’m thinking it’s a solid time to scoop up inventory—flips could shine with all these reductions, and rentals look tempting too. What’s your take—jumping in now or waiting it out? Let’s brainstorm!

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