January 6, 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 three years closed transactions in Mammoth Lakes.
Condos | 2014 | 2013 | 2012 | 2011 |
Median* Price | $292,500 | $265,000 | $244,000 | $242,000 |
Median* Days on Market | 89 | 105 | 123 | 98 |
Total Condos SOLD | 259 | 345 | 299 | 309 |
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Single Family Homes | 2014 | 2013 | 2012 | 2011 |
Median* Price | $615,000 | $575,000 | $575,000 | $560,000 |
Median* Days on Market | 145 | 103 | 181 | 120 |
Total SF Homes SOLD | 85 | 91 | 91 | 75 |
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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).
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 | $399,000
Up from $369,500 in Nov |
$964,000
Up from  $924k in Nov |
Median* Days on Market | 95
Down from 96 in Nov |
150
Up from 140 in Nov |
Total Available as of Jan 5 | 129
Down from 153 in Nov |
64
Down from 67 in Nov |
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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.
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