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Mammoth Lakes Real Estate Market Update – December 2015

December 15, 2015

Real Estate

Mammoth Lakes Real Estate Market Update – December 2015

real estate marketThere 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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