Mammoth Lakes Market Update – April 1, 2015

April 1, 2015

Real Estate

There are several different data points to review when answering this question including median price, days on market and total inventory sold. Below is a snapshot of the last four years closed transactions in Mammoth Lakes and what has happened so far in 2015.

Condos	YTD thru March 2015	2014	2013	2012	2011
Median* Sold Price	$294,500	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	87	89	105	123	98
Total Condos SOLD	66	259	345	299	309

Single Family Homes	YTD thru March 2015	2014	2013	2012	2011
Median* Sold Price	$895,000	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	168	145	103	181	120
Total SF Homes SOLD	20	85	91	91	75

In summary, the number of condos sold is the lowest amount in the last four years (28% less than 2013) while the median price has risen (10% higher than 2013) and days on market has decreased (16% lower than 2013) .

For single family homes, the number of homes has stayed relatively flat while the price and days on market have both increased over 2013 (7% and 40% respectively).

Through the first quarter of 2015, total units sold is trending similar to 2014. The median days on market is trending similar to 2015 in the condo category but is up significantly in the single family home category.

While this information is useful in observing trends, the current inventory must also be considered. Below is a snapshot of the available properties available today:

CURRENTLY LISTED	Condos	Single Family Homes
Median* Price	$385,000 Down from $399,000 in Feb.	$1,035,000 Down from $968k in Feb.
Median* Days on Market	79 Up from 78 in Feb.	177 Up from 174 in Feb.
Total Available as of April 1	165 Down from 151 in Feb.	66 Up from 63 in Nov

If you are interested in buying or selling, a qualified Realtorâ can provide the relevant data for your specific neighborhood or area of interest.

*Median Price = Is the middle value for a range of values. This is a good indicator to use when there is significant data. It minimizes the impact of unusually high or low values and gives a better perspective of the big picture.