Mammoth Lakes Market Update – November 30, 2014

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 three years closed transactions in Mammoth Lakes and January through November  2014.

In the condo market, the sold price for condos through November 2013 is up over 2013.  The days on market has dropped as compared to 2013 for condos but has increased the last few months of 2014.  Unless there is a record breaking December, the total number of condos sold is trending to be the lowest in the last 4 years.

The sold price of single family homes has remained relatively flat in 2014. While the median days on market was trending downward, the  trend has changed the last few months resulting in the median days on market being significantly higher than  2013.

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:

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.