Mammoth Lakes Real Estate Market Update January 2025

Mammoth Lakes real estate maintained a balanced market throughout the latter half of 2024, with around four months of inventory as of January 2025. In this balanced market, both buyers and sellers share negotiating power, allowing for sustainable price appreciation. Condo sales slightly exceeded 2023 levels, with 243 units sold, although the median price decreased by 4.5% to $725,000. Similarly, single-family home sales declined by 12%, but the median price increased modestly to $1.3 million. Properties in both segments spent longer on the market in 2024, signaling more cautious buyer behavior. Inventory levels spiked mid-year but fell steadily in the second half, with fewer properties available heading into 2025, which could stabilize or slightly increase prices in the coming year.

Looking ahead to 2025, the Mammoth Lakes real estate market is expected to see moderate price growth due to low inventory and ongoing demand, particularly in resort areas. If interest rates decline as forecasted, more sellers may enter the market, alleviating some supply constraints. Mortgage rates are projected to remain stable with potential gradual declines, benefiting buyers in the latter half of the year. However, factors such as inflation, consumer confidence, and mortgage availability will influence pricing trends. Additionally, the growing wildfire risk in California has impacted homeowners insurance, making it a critical consideration for prospective buyers. Despite these challenges, working with an experienced real estate professional is advised to navigate the market successfully.

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