Mammoth Lakes Real Estate Market Update

January 6, 2014

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 transactions in Mammoth Lakes and preliminary year-end 2013 results.

Condos	2013 (as of Dec. 29)	2012	2011
Median Price	$263,000	$244,000	$242,000
Median Days on Market	105	123	98
Total Condos SOLD	343	299	309

Single Family Homes	2013 (as of Dec. 29)	2012	2011
Median Price	$575,000	$575,000	$560,000
Median Days on Market	103	181	120
Total SF Homes SOLD	90	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	$359,900	$769,000
Median Days on Market	101	127
Total Available as of Dec. 29	105 Relatively flat all of 2013	49 Relatively flat all of 2013

In summary for the condo market, there was a significant increase in the number sold (~14% ) and condos sold more quickly (~17%)and at a higher price than the previous two years (~7%).

In summary for the single-family home market, while the number sold and the median price remained relatively flat, the days on market reduced significantly.

If you are interested in buying or selling, a qualified Realtorâ can provide the relevant data for your specific neighborhood or area of interest.

For previous articles, visit www.sonjabush.com