January 6, 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 three years closed transactions in Mammoth Lakes.
|Median* Days on Market||89||105||123||98|
|Total Condos SOLD||259||345||299||309|
|Single Family Homes||2014||2013||2012||2011|
|Median* Days on Market||145||103||181||120|
|Total SF Homes SOLD||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).
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|
Up from $369,500 in Nov
Up from $924k in Nov
|Median* Days on Market||95
Down from 96 in Nov
Up from 140 in Nov
|Total Available as of Jan 5||129
Down from 153 in Nov
Down from 67 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.
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