Mammoth Lakes Real Estate Market Update – August 2019

August 5, 2019

Real Estate

There are several different data points to review when analyzing the current market including median price, days on market and total inventory sold. Below is a snapshot of the last several years of transactions closed and current inventory.

Condos

	Through 7/31/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$450,000	$402,500	$349,900	$299,750	$305,000	$292,500	$265,000	$244,000
Median* Days on Market	85	69	70	117	113	89	105	123
Total Condos SOLD	208	348	407	304	271	259	345	299

Through July 2019, condo prices are up approximately 12% over year-end 2018. The trend indicates roughly the same number of condos will sell in 2019, and those that do sell are taking 23% longer.

Single-Family Homes

	Through 7/31/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$785,000	$890,000	$750,000	$682,500	$694,400	$619,000	$580,000	$575,000
Median* Days on Market	102	113	131	132	165	145	103	181
Total SF Homes Sold	53	87	95	98	91	85	90	91

Through July 2019, single family home prices are down approximately 14% from year-end 2018. The trend for 2019 indicates about the same number of homes will sell in 2019 as in 2018. Those that do sell are selling approximately 10% quicker than in 2018.

The current inventory provides an indication of potential activity. Below is a snapshot of current listings:

Currently Listed	Condos	Single-Family Homes
Median Price*	$429,000 DOWN from $449,250 in July	$1,050,000 UP from $949,000 July
Median Days on Market*	44 DOWN from 62 in July	45 DOWN from 55 in June
Total Available August 1**	128 UP from 108 in July	65 UP from 41 in July

*Median Price is the middle value for a range of values and 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.

**Total Available excludes properties currently under contract.

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