Mammoth Lakes Market Update – August 1, 2015

There are several different data points to review when evaluating the local real estate market 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 through July 2015.

In the condo category the median days on market is comparable to 2014.  The trend indicates 12% fewer overall sales while the median sales price is 7% higher than 2014.

In the single family home category median days on market is up 40% so far in 2015.  The trend also indicates 16% fewer home sales while the median price is 42% higher.  Note:  of the 42 single family homes sold so far in 2015, 26 of them were over $1,000,000).

Of course there is still plenty of time in 2015 for these trends to shift.  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:

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.