Mammoth Lakes Market Update – November 1, 2015

November 6, 2015

Real Estate

Mammoth Lakes Market Update – November 1, 2015

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.