Mammoth Lakes Market Update – January 3, 2015

January 6, 2015

Real Estate

Mammoth Lakes Market Update – January 3, 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.

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

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

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

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.