Mammoth Lakes Real Estate Market Update – February 2021

February 15, 2021

Real Estate

There are several different data points to review when analyzing the current state of the Mammoth Lakes real estate 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 in Mammoth Lakes. Note that this report doesn’t include any of the outlying areas beyond Mammoth Lakes.

Mammoth Lakes Condos

Condos	Through 2/1/21	2020	2019	2018	2017	2016
*Median Sold Price**	$451,000	$475,000	$450,000	$402,500	$349,900	$299,750
*Median Days on Market**	46	67	84	69	70	117
Total Condos SOLD	44	442	387	348	407	304

There is not yet enough data to identify 2021 trends. When comparing 2020 to 2019, the median condo price is up nearly 6%. Approximately 14% more condos sold in 2020 and those sold 25% more quickly than in 2019 (down 18 days).

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

CURRENTLY LISTED	CONDOS
Median* Price	$649,450 ↑UP from $485,000 in December
Median* Days on Market	9 ↓DOWN from 18 in December
Total Available on Feb. 1**	14 ↓DOWN from 25 in December

Download the year-end 2020 condo report.

Mammoth Lakes Single Family Homes

Single-Family Homes	Through 2/1/21	2020	2019	2018	2017	2016
*Median Sold Price**	$1,450,000	$875,000	$767,625	$890,000	$750,000	$682,500
*Median Days on Market**	111	82	113	113	131	132
Total SFH SOLD	15	133	94	87	95	98

There is not yet enough data to identify 2021 trends. When comparing 2020 to 2019, the median price of a single-family homes sold in 2020 is up 14%. Approximately 41% more SFH sold in 2020 and those sold 37% faster (down 31 days).

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

CURRENTLY LISTED	SINGLE FAMILY HOMES
Median* Price	$2,975,000 ↓UP from $2,249,500 in December
Median* Days on Market	33 ↓DOWN from 63 in December
Total Available on Feb. 1**	14 ↓DOWN from 16 in December

Download the year-end 2020 single family homes report.

*Median 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.