Mammoth Lakes Market Update – September 1, 2015

September 12, 2015

Real Estate

Mammoth Lakes Market Update – September 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 August 2015.

Condos	YTD thru Aug 2015	2014	2013	2012	2011
Median* Sold Price	$305,000	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	92	89	105	123	98
Total Condos SOLD	174	259	345	299	309

Single Family Homes	YTD thru Aug 2015	2014	2013	2012	2011
Median* Sold Price	$722,500	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	166	145	103	181	120
Total SF Homes SOLD	62	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 4% higher than 2014.

In the single family home category median days on market is up 11% so far in 2015. The trend also indicates 14% more home sales while the median price is 17% higher.

Of course there is still plenty of time in 2015 for these trends to shift. 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 Down from $359,450 in July	$817,450 Up from $769,000 in July
Median* Days on Market	104 Up from 96 in July	114 Up from 100 in July
Total Available as of Sept 10	188 Down from 202 in July	82 Down from 95 in July

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.