September 12, 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 August 2015.
Condos | YTDÂ thru
Aug 2015 |
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2014 |
Â
2013 |
Â
2012 |
Â
2011 |
Â
Median* Sold Price |
Â
$305,000 |
Â
$292,500 |
Â
$265,000 |
Â
$244,000 |
Â
$242,000 |
Median* Days on Market | Â
92 |
Â
89 |
Â
105 |
Â
123 |
Â
98 |
Total Condos SOLD | 174 | 259 | 345 | 299 | 309 |
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 |
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Single Family Homes |
YTDÂ thru
Aug  2015 |
Â
2014 |
Â
2013 |
Â
2012 |
Â
2011 |
Â
Median* Sold Price |
Â
$722,500 |
Â
$615,000 |
Â
$575,000 |
Â
$575,000 |
Â
$560,000 |
Median* Days on Market | Â
166 |
Â
145 |
Â
103 |
Â
181 |
Â
120 |
Total SF Homes SOLD | 62 | 85 | 91 | 91 | 75 |
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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 |
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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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