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Mammoth Lakes Real Estate Market Update – February 2020

February 2, 2020

Real Estate

Mammoth Lakes Real Estate Market Update – February 2020

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 1/31/20 2019 2018 2017 2016 2015 2014 2013
Median* Sold Price $419,000 $450,000 $402,500 $349,900 $299,750 $305,000 $292,500 $265,000
Median* Days on Market 155 84 69 70 117 113 89 105
Total Condos SOLD 23 387 348 407 304 271 259 345

In 2019, condo prices were up 12% over year-end 2018. Approximately 11% more condos sold in 2019 and those that did sell took 21% longer (up 15 days) to sell than in 2018. It is too early to identify 2020 trends.

Single-Family Homes

Through 1/31/20 2019 2018 2017 2016 2015 2014 2013
Median* Sold Price $965,000 $767,625 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000
Median* Days on Market 148 96 113 131 132 165 145 103
Total SF Homes Sold 5 94 87 95 98 91 85 90

In 2019 single family home prices were down approximately 16% from year-end 2018. Approximately 8% more single family homes sold in 2019. Those that did sell sold about 18% faster (down 17 days) than in 2018. It is too early to identify 2020 trends.

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

Currently Listed Condos Single-Family Homes
Median Price* $459,500

DOWN from $445,000 in January

$1,125,000

UP from $995,000 in January

Median Days on Market* 47

DOWN from 74 in January

165

UP from 137 in January

Total Available December 1** 58

DOWN from 105 in January

49

UP from 38 in January

*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.

Download the PDF report.


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