Mammoth Lakes Real Estate Market Update

December 3, 2013

Real Estate

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 two years closed transaction in Mammoth Lakes and 2013 so far.

Condos	2013 (as of Nov 30)	2012	2011
Median Price	$259,000	$244,000	$242,000
Median Days on Market	103	123	98
Total Condos SOLD	314	299	309

Single Family Homes	2013 (as of Nov 30)	2012	2011
Median Price	$575,000	$575,000	$560,000
Median Days on Market	103	181	120
Total SF Homes SOLD	88	91	75

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	$379,900	$754,000
Median Days on Market	100	101
Total Available as of 11/30	109 Relatively flat all of 2013	52 Relatively flat all of 2013

In summary, both condos and single family homes are selling more quickly than 2012 and at a higher price. Although inventory levels have been low throughout 2013, total sales of both condos and single family homes will surpass totals for the previous two years.

What does this mean to you? Prices are trending slightly up. People interested in buying should increase their search and also need to be ready to move quickly when the right property is identified. Sellers can expect to get more than they would have last year at this time. Of course, there is no crystal ball. Will the upward trend continue? Time will tell.