Mammoth Lakes Market Update – July 18, 2014

July 19, 2014

Real Estate

Mammoth Lakes Market Update – July 18, 2014

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 and the first half of 2014.

Condos	2014 (as of 7/18)	2013	2012	2011
Median Price	$307,500	$265,000	$244,000	$242,000
Median Days on Market	82	105	123	98
Total Condos SOLD	124	345	299	309

Single Family Homes	2014 (as of 7/18)	2013	2012	2011
Median Price	$650,750	$575,000	$575,000	$560,000
Median Days on Market	148	103	181	120
Total SF Homes SOLD	42	91	91	75

So far in 2014, the price of condos is steadily increasing and is higher than the median for the previous three year period. The median days on market dropped yet again the condo category in June. Keep in mind the median days on the market is calculated from the date of the listing to the close of escrow — with an average escrow being 30 days, properties are under contract in a little over two weeks.

The price of single family homes and the days on market have both stayed relatively flat in 2014.

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	$324,975 Down from $339k in May	$727,000 Down from $785k in May
Median Days on Market	79 Down from 82 in May	79 Down from 100 in May
Total Available as of July 18	152 Up from 126 in May	86 Up from 67 in May