Mammoth Lakes Market Update – March 2, 2015

March 3, 2015

Real Estate

Mammoth Lakes Market Update – March 2, 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 four years closed transactions in Mammoth Lakes and what has happened so far in 2015.

Condos	YTD thru Feb. 2015	2014	2013	2012	2011
Median* Sold Price	$290,00	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	93	89	105	123	98
Total Condos SOLD	39	259	345	299	309

Single Family Homes	YTD thru Feb. 2015	2014	2013	2012	2011
Median* Sold Price	$915,000	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	167	145	103	181	120
Total SF Homes SOLD	15	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).

In both categories it is too early to comment on a 2015 trend.

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 $389,000 in Jan.	$968,000 Up from $924k in Jan.
Median* Days on Market	78 Up from 76 in Jan.	174 Up from 154 in Jan.
Total Available as of Mar. 1	151 Down from 153 in Jan.	63 Down from 66 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.