Mammoth Lakes Market Update – May 3, 2015

May 5, 2015

Real Estate

Mammoth Lakes Market Update – May 3, 2015

There are several different data points to review when evaluating the latest market statistics 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 April 2015	2014	2013	2012	2011
Median* Sold Price	$300,000	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	94	89	105	123	98
Total Condos SOLD	89	259	345	299	309

Single Family Homes	YTD thru April 2015	2014	2013	2012	2011
Median* Sold Price	$697,500	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	168	145	103	181	120
Total SF Homes SOLD	28	85	91	91	75

In both categories, single family home and condo, 2015 is on track to almost match 2014 numbers identically in terms of total units sold. The median days on market for condos is slightly higher than 2014 while days on market for single family homes is up significantly. In terms of median price, both categories are up from 2014 – 3% for condos and 12% for single family homes.

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	$370,000 Down from $385,000 in Mar.	$1,075,000 Up from $1,035,000 in March
Median* Days on Market	83 Up from 79 in March	94 Down from 177 in March
Total Available as of March 3	167 Up from 165 in March	71 Up from 66 in March

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.