Mammoth Lakes Real Estate Market Update – December 2015

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.