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Mammoth Lakes Real Estate Market Update December 2024

December 5, 2024

Market Update

Mammoth Lakes Real Estate Market Update December 2024

https://heyzine.com/flip-book/ce5d10222e.html

As of December 1, 2024, the Mammoth Lakes real estate market remains balanced, with approximately 4 months of inventory. This indicates a market where prices tend to appreciate at a steady rate, and both buyers and sellers have fairly equal negotiating power. Properties are staying on the market longer than in a seller's market but faster than in a buyer's market, creating a favorable environment for both parties.

For 2024, condo sales are slightly ahead of 2023, though prices have softened by about 3.5%, and condos are taking 27% longer to sell on average. Single-family home sales have dipped slightly compared to last year, but prices have risen by 3%, with properties taking 21% longer to sell. Inventory levels for both condos and single-family homes saw a spike in August, but have been decreasing since September, signaling a potential shift toward a seller's market and possibly leading to price increases by year-end.

Learn more by reading our Market Update flip book above!

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