Mammoth Lakes Real Estate Market Update February 2025

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Mammoth Lakes real estate market saw balanced conditions in the latter half of 2024, with inventory sitting at about four months by the year-end. However, inventory increased to 6 months in early 2025, shifting it to a buyer’s market. Condos saw slight growth in sales in 2024, but prices fell 4.5%, and properties took longer to sell. Single-family home sales dropped by 12%, but prices increased slightly, with homes also spending more time on the market.

In January 2025, inventory rose nearly 14% for both property types, reversing a mid-2024 decline. The 2025 forecast shows a continued buyer’s market for single-family homes (10.5 months of inventory) and a balanced market for condos (6 months). Market conditions are influenced by interest rates and inventory trends, with potential rate declines expected later in 2025. Mortgage options like temporary buy-downs and seller concessions may help buyers. Additionally, insurance challenges due to wildfire risks impact the market, with some insurers limiting policies.

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