​The Springs Market Recap December 2023

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Our average list price has gone down 4.79% in December 2023 compared to December 2022.  The average sales price has gone down just slightly while the average days on market has gone up significantly to 88 in December 2023 compared to 18 days on average in December 2022. 

​Rancho Mirage Market Report

In December 2023, Rancho Mirage had a higher average list price compared to September 2022 by 22%. The average sales price this year is down from what it was in December 2022.  Days on market is up and currently at 65.  

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For the year, the average sales price went down from $1,1148,192 in 2022 to $1,117,193 in 2023. Average days on market for the year increased from 36 to 58.

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​Tracking Fair Market Value

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In the chart below, pricing above the red line would need the property to have something better than the average - location, views, amenities, updates, ect. 

You'll notice that the above chart showing the fair market trend line for 2023 had the fair market value of a 3300 square foot home at $1,140,000. Below you will see the fair market chart from 2022 showing the fair market value of a 3300 square foot home was $1,310,000.

Why Does Choosing The On-Site Real Estate Team Matter?

If you are working with an agent, this is not meant as a solicitation​