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
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