Mammoth Lakes Real Estate Market Update – 2015 in Review

January 6, 2016

Real Estate

2015 was a great year in Mammoth Lakes! As we ended the year, the much needed snow arrived and there was a final push in real estate. When evaluating 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 five years transactions closed as well as the current inventory.

Condos	2015	2014	2013	2012	2011
Median* Sold Price	$306,250	$292,500	$265,000	$244,000	$242,000
Median* Days on Market	113	89	105	123	98
Total Condos SOLD	270	259	345	299	309
Summary for condo category for 2015 as compared to 2014: Median Sold Price: Up 5% over 2014 Median Days on Market: Up 26% over 2014 Total Condos Sold: Up 4% over 2014
Single Family Homes	2015	2014	2013	2012	2011
Median* Sold Price	$687,200	$615,000	$575,000	$575,000	$560,000
Median* Days on Market	166	145	103	181	120
Total SF Homes SOLD	90	85	91	91	75

Summary for single family home category for 2015 as compared to 2014:

Median Sold Price: Up 12% over 2014

Median Days on Market: Up 14% over 2014

Total Condos Sold: Up 6% over 2014

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	$382,600 Down from $396,000 in Nov.	$997,499 Down from $975,000 in Nov.
Median* Days on Market	123 Down from 127 in Nov.	159 Up from 157 in Nov.
Total Available as of Dec 12	130 Up from 122 in Nov.	58 Down from 65 in Nov.

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.