Mammoth Lakes Real Estate Market Update – July 2019

July 1, 2019

Real Estate

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 6/30/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$450,000	$402,500	$349,900	$299,750	$305,000	$292,500	$265,000	$244,000
Median* Days on Market	91	69	70	117	113	89	105	123
Total Condos SOLD	169	348	407	304	271	259	345	299

At the end of the first half of 2019, condo prices are up approximately 12% over year-end 2018. The trend indicates roughly the same number of condos will sell in 2019, and those that do sell are taking 30% longer.

Single-Family Homes

	Through 6/30/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$832,500	$890,000	$750,000	$682,500	$694,400	$619,000	$580,000	$575,000
Median* Days on Market	122	113	131	132	165	145	103	181
Total SF Homes Sold	42	87	95	98	91	85	90	91

At the end of the first half of 2019, single family home prices are down approximately 7% from year-end 2018. The trend for 2019 indicates about the same number of homes will sell in 2019 as in 2018. Those that do sell are taking approximately 8% longer to sell.

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

Currently Listed	Condos	Single-Family Homes
Median Price*	$449,250 UP from $439,900 in June	$949,000 No change from June
Median Days on Market*	62 UP from 51 in June	55 DOWN from 57 in June
Total Available July 1**	108 UP from 107 in June	46 UP from 41 in June

*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.

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