RANCHO MIRAGE UPDATE 07/2009
Rancho Mirage is part of the national housing contraction but might be better of than the rest of the nation due to it's second home market and strong Canadian clientele. The Valley price decline continued in June 2009 but the number of sales, not sales volume, is up due to the sales of all the bankowned properties which get multiple offers as soon they come on the market. The actual inventory however is the lowest since 2007.
Builders were ahead of many in the real estate industry at adjusting their activities in light of the changing market. Builders start to run out of standing inventory after slowing down their production and will come back when the market comes back. A lot of the deals we are seeing out there will start to go away - now is a fantastic time to buy and a home in a great location in the middle of our east growing valley like Rancho Mirage will still be a good long-term investment, even if housing prices don't increase at the same pace anymore.
Median sales price for Rancho Mirage in June 2009 went down to $513,000 comparing to last year $ 525,000 in the same month, with a sales volume going down to 28 Million from 40 Million last year in the same month. As a certified international property specialist and Internet professional, I'm only milliseconds away and I can help clients from all over the world with transactions in Rancho Mirage. Ralph W Haverkate, Broker Associate, ABR, CRS, CIPS, GRI, RCC, e-PRO, TRC
Rancho Mirage sales in Million Dollars 2005 - 2009
| Rancho Mirage - Total Resales in Millions | | | | | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | Jan | | Jan | 33 | Jan | 34 | Jan | 32 | Jan | 13 | | Feb | | Feb | 46 | Feb | 34 | Feb | 31 | Feb | 17 | | Mar | | Mar | 55 | Mar | 42 | Mar | 51 | Mar | 24 | | Apr | | Apr | 67 | Apr | 42 | Apr | 49 | Apr | 23 | | May | | May | 60 | May | 56 | May | 40 | May | 30 | | Jun | | Jun | 43 | Jun | 41 | Jun | 40 | Jun | 28 | | Jul | | Jul | 43 | Jul | 35 | Jul | 30 | Jul | | | Aug | | Aug | 31 | Aug | 46 | Aug | 22 | Aug | | | Sep | 38 | Sep | 24 | Sep | 27 | Sep | 17 | Sep | | | Oct | 47 | Oct | 27 | Oct | 23 | Oct | 19 | Oct | | | Nov | 56 | Nov | 21 | Nov | 26 | Nov | 11 | Nov | | | Dec | 43 | Dec | 30 | Dec | 32 | Dec | 21 | Dec | | | | | 480 | | 438 | | 363 | | 135 | | | | | | | | | | | | Rancho Mirage - Homes For Sale | | | | | | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | Jan | | Jan | 550 | Jan | 756 | Jan | 776 | Jan | 744 | | Feb | | Feb | 595 | Feb | 785 | Feb | 788 | Feb | 764 | | Mar | | Mar | 625 | Mar | 817 | Mar | 771 | Mar | 786 | | Apr | | Apr | 587 | Apr | 824 | Apr | 743 | Apr | 790 | | May | | May | 623 | May | 751 | May | 685 | May | 731 | | Jun | | Jun | 590 | Jun | 687 | Jun | 619 | Jun | 695 | | Jul | | Jul | 540 | Jul | 626 | Jul | 607 | Jul | | | Aug | | Aug | 517 | Aug | 575 | Aug | 569 | Aug | | | Sep | | Sep | 559 | Sep | 616 | Sep | 564 | Sep | | | Oct | | Oct | 628 | Oct | 713 | Oct | 654 | Oct | | | Nov | 463 | Nov | 680 | Nov | 751 | Nov | 715 | Nov | | | Dec | 431 | Dec | 649 | Dec | 724 | Dec | 691 | Dec | | | | | | | | | | | | | | | | | | | | | | | Rancho Mirage - Homes Sold | | | | | | | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | Jan | | Jan | 40 | Jan | 31 | Jan | 32 | Jan | 17 | | Feb | | Feb | 47 | Feb | 47 | Feb | 40 | Feb | 35 | | Mar | | Mar | 69 | Mar | 53 | Mar | 72 | Mar | 30 | | Apr | | Apr | 62 | Apr | 57 | Apr | 61 | Apr | 47 | | May | | May | 66 | May | 71 | May | 58 | May | 48 | | Jun | | Jun | 50 | Jun | 65 | Jun | 55 | Jun | 43 | | Jul | | Jul | 44 | Jul | 41 | Jul | 52 | Jul | | | Aug | | Aug | 43 | Aug | 46 | Aug | 37 | Aug | | | Sep | 55 | Sep | 26 | Sep | 35 | Sep | 32 | Sep | | | Oct | 57 | Oct | 30 | Oct | 30 | Oct | 36 | Oct | | | Nov | 60 | Nov | 30 | Nov | 31 | Nov | 19 | Nov | | | Dec | 47 | Dec | 36 | Dec | 40 | Dec | 32 | Dec | | | | | 543 | | 547 | | | | | | | | | | | | | | | | Rancho Mirage - Average Sales Price in Thousands | | | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | Jan | | Jan | 823 | Jan | 1112 | Jan | 1002 | Jan | 763 | | Feb | | Feb | 987 | Feb | 726 | Feb | 792 | Feb | 497 | | Mar | | Mar | 803 | Mar | 802 | Mar | 708 | Mar | 783 | | Apr | | Apr | 1083 | Apr | 729 | Apr | 810 | Apr | 500 | | May | | May | 911 | May | 786 | May | 687 | May | 621 | | Jun | | Jun | 860 | Jun | 637 | Jun | 735 | Jun | 653 | | Jul | | Jul | 972 | Jul | 851 | Jul | 571 | Jul | | | Aug | | Aug | 725 | Aug | 1007 | Aug | 603 | Aug | | | Sep | 690 | Sep | 920 | Sep | 778 | Sep | 519 | Sep | | | Oct | 819 | Oct | 911 | Oct | 780 | Oct | 531 | Oct | | | Nov | 935 | Nov | 706 | Nov | 834 | Nov | 563 | Nov | | | Dec | 925 | Dec | 857 | Dec | 793 | Dec | 662 | Dec | | | | | | | | | | | | | | | | | | | | | | | Rancho Mirage - Median Sales Price in Thousands | | | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | Jan | | Jan | 577 | Jan | 750 | Jan | 723 | Jan | 600 | | Feb | | Feb | 788 | Feb | 635 | Feb | 653 | Feb | 359 | | Mar | | Mar | 640 | Mar | 555 | Mar | 544 | Mar | 483 | | Apr | | Apr | 665 | Apr | 580 | Apr | 500 | Apr | 360 | | May | | May | 720 | May | 643 | May | 523 | May | 485 | | Jun | | Jun | 655 | Jun | 610 | Jun | 525 | Jun | 513 | | Jul | | Jul | 727 | Jul | 750 | Jul | 473 | Jul | | | Aug | | Aug | 724 | Aug | 678 | Aug | 470 | Aug | | | Sep | 620 | Sep | 678 | Sep | 615 | Sep | 487 | Sep | | | Oct | 620 | Oct | 673 | Oct | 665 | Oct | 415 | Oct | | | Nov | 720 | Nov | 573 | Nov | 600 | Nov | 480 | Nov | | | Dec | 764 | Dec | 730 | Dec | 628 | Dec | 438 | Dec | |
|