November 6, 2015
Real Estate
There are several different data points to review when evaluating the current 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 October 2015.
Condos | YTD thru
Oct 2015 |
2014 |
2013 |
2012 |
2011 |
Median* Sold Price |
$309,000 |
$292,500 |
$265,000 |
$244,000 |
$242,000 |
Median* Days on Market |
100 |
89 |
105 |
123 |
98 |
Total Condos SOLD |
219 |
259 |
345 |
299 |
309 |
Single Family Homes |
YTD thru
Oct 2015 |
2014 |
2013 |
2012 |
2011 |
Median* Sold Price |
$677,500 |
$615,000 |
$575,000 |
$575,000 |
$560,000 |
Median* Days on Market |
167 |
145 |
103 |
181 |
120 |
Total SF Homes SOLD |
79 |
85 |
91 |
91 |
75 |
In the condo category the total units sold is trending to end almost identical to 2014. The trend indicates the median sales price and median days on market are both higher (5% and 12% respectively).
In the single family home category median days on market is up 15% so far in 2015 as compared to 2014. The trend also indicates the number of units sold and sales price are trending higher in 2015 (12% and 10% respectively)
There is still time for the trends to shift in 2015 especially as interest continues to increase with the strong “El Nino” predictions. 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 |
$349,000 Up from $339,000 in Sept. |
$999,000 Up from $817,000 in Sept. |
Median* Days on Market |
126 Down from 105 in Sept. |
138 Down from 139 in Sept. |
Total Available as of Nov 5 |
139 Down from 153 in Sept. |
61 Down from 74 in Sept. |
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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