Mammoth Lakes Market Update – February 1, 2015

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.

• Condos	YTD  thru Jan. 2015	2014	2013	2012	2011
  Median* Sold Price	$332,500	$292,500	$265,000	$244,000	$242,000
  Median* Days on Market	82	89	105	123	98
  Total Condos SOLD	18	259	345	299	309
  Single Family Homes	YTD  thru Jan. 2015	2014	2013	2012	2011
  Median* Sold Price	$890,000	$615,000	$575,000	$575,000	$560,000
  Median* Days on Market	90	145	103	181	120
  Total SF Homes SOLD	7	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).

  In both categories it is too early to comment on a 2015 trend.

  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	$389,000 Down from $399,000 in Dec.	$924,000 Down  from  $964k in Dec.
  Median* Days on Market	76 Down from 95 in Dec.	154 Up from 150 in Dec.
  Total Available as of Feb. 1	153 Up  from 129 in Nov	66 Up from 64 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.