Mammoth Lakes Market Update – October 1, 2015

October 7, 2015

Real Estate

Mammoth Lakes Market Update – October 1, 2015

The Mammoth Lakes real estate market continues to be active through the 4th quarter of 2015. When reviewing the state of the market, there are several different data points to review 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 September 2015.

Condos	YTD thru Sept 2015	2014	2013	2012	2011
Median* Sold Price	$315,000	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	94	89	105	123	98
Total Condos SOLD	192	259	345	299	309

Single Family Homes	YTD thru Sept 2015	2014	2013	2012	2011
Median* Sold Price	$685,900	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	160	145	103	181	120
Total SF Homes SOLD	66	85	91	91	75

In the condo category the median days on market and total units sold is comparable to 2014. The trend indicates the median sales price is 7% higher than 2014.

In the single family home category median days on market is up 10% so far in 2015 as compared to 2014. The trend also indicates the number of units sold on track to match 2014 while the sales price has increased 11%.

A lot can change in the last three months of 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	$339,000 Same as August	$817,000 Same as August
Median* Days on Market	105 Up from 104 in Aug	139 Up from 114 in Aug
Total Available as of Sept 10	153 Down from 188 in Aug	74 Down from 82 in Aug

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.