December 15, 2015
Real Estate
There are several different data points to review when analyzing the current real estate market. These include median price, days on market and total inventory sold. Below is a snapshot of the last four years closed transactions in Mammoth Lakes and what has happened through November 2015.
Condos | YTD thru
Nov 2015 |
2014 |
2013 |
2012 |
2011 |
Median* Sold Price |
$309,900 |
$292,500 |
$265,000 |
$244,000 |
$242,000 |
Median* Days on Market |
112 |
89 |
105 |
123 |
98 |
Total Condos SOLD | 245 | 259 | 345 | 299 | 309 |
Single Family Homes |
YTD thru
Nov 2015 |
2014 |
2013 |
2012 |
2011 |
Median* Sold Price |
$676,250 |
$615,000 |
$575,000 |
$575,000 |
$560,000 |
Median* Days on Market |
165 |
145 |
103 |
181 |
120 |
Total SF Homes SOLD | 84 | 85 | 91 | 91 | 75 |
In the condo category median price and days on market are trending higher than 2014 (6% and 25% respectively). If sales stay constant in December, the total condos sold will be 3% higher in 2015.
In the single family home category, median price and days on market are also trending higher than 2014 (10% and 13% respectively). Based on the current trend, the total units sold is trending 7% higher in 2015.
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 | $396,000
Up from $349,000 in Oct. |
$975,000
Up from $817,000 in Oct. |
Median* Days on Market |
127 Up from 126 in Oct. |
157 Down from 138 in Oct. |
Total Available on Dec 12 |
122 Down from 139 in Oct. |
65 Down from 67 in Oct. |
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.
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