Mammoth Lakes Market Update – June 1, 2015

June 2, 2015

Real Estate

Mammoth Lakes Market Update – June 1, 2015

There are several different data points to review when evaluating the local real estate market including median price, days on market and total inventory sold. Below is a snapshot of the last four years closed transactions in Mammoth Lakes and what has happened through May 2015.

Condos	YTD thru May 2015	2014	2013	2012	2011
Median* Sold Price	$312,500	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	94	89	105	123	98
Total Condos SOLD	102	259	345	299	309

Single Family Homes	YTD thru May 2015	2014	2013	2012	2011
Median* Sold Price	$720,000	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	170	145	103	181	120
Total SF Homes SOLD	31	85	91	91	75

In the condo category the median days on market is comparable to 2014. The trend indicates 6% fewer overall sales while the median sales price is 7% higher than 2014.

In the single family home category median days on market is up 15% so far in 2015. The trend also indicates 13% fewer home sales while the median price is 17% higher.

Of course there is still plenty of time in 2015 for these trends to shift. 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	$359,000 Down from $370,000 in April	$949,000 Down from $1,075,000 in April
Median* Days on Market	92 up from 83 in April	78 down from 94 in April
Total Available as of May 30	193 up from 167 in April	77 up from 71 in April

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 = 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.