May 5, 2015
Real Estate
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 | YTDÂ thru
April  2015 |
Â
2014 |
Â
2013 |
Â
2012 |
Â
2011 |
Â
Median* Sold Price |
Â
$300,000 |
Â
$292,500 |
$265,000 | $244,000 | $242,000 |
Median* Days on Market | Â
94 |
Â
89 |
105 | 123 | 98 |
Total Condos SOLD | 89 | 259 | 345 | 299 | 309 |
Â
Single Family Homes |
YTDÂ thru
April  2015 |
Â
2014 |
Â
2013 |
Â
2012 |
Â
2011 |
Â
Median* Sold Price |
Â
$697,500 |
Â
$615,000 |
$575,000 | $575,000 | $560,000 |
Median* Days on Market | Â
168 |
Â
145 |
103 | 181 | 120 |
Total SF Homes SOLD | 28 | 85 | 91 | 91 | 75 |
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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 |
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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.
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