Mammoth Lakes Real Estate Market Update – July 2020

July 1, 2020

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 6/30/20	2019	2018	2017	2016	2015	2014
Median* Sold Price	$452,500	$450,000	$402,500	$349,900	$299,750	$305,000	$292,500
Median* Days on Market	89	84	69	70	117	113	89
Total Condos SOLD	100	387	348	407	304	271	269

Through June 2020, the median condo price is relatively flat as compared to 2019. If we annualize YTD 2020 condos sold, we are on track to sell 51% fewer condo than in 2019, and those that do sell are taking 5% longer (up 7 days). Of course, this trend is not reliable due to the current COVID-19 crisis.

Single Family Homes

	Through 6/30/20	2019	2018	2017	2016	2015	2014
Median* Sold Price	$735,000	$767,625	$890,000	$750,000	682,500	694,400	$619,000
Median* Days on Market	126	113	113	131	132	165	145
Total SF Homes Sold	39	94	87	95	98	91	85

Through June 2020, the median price of single family homes sold is slightly up (about 4%) as compared to 2019. If we annualize YTD 2020 single family homes sold, we are on track to sell approximately 12% less as compared to 2019, and those that do sell are taking 11% longer (up 13 days). Of course, this trend is not reliable due to the current COVID-19 crisis.

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

Currently Listed	Condos	Single-Family Homes
Median Price*	$443,500 UP from $429,000 in June	$1,157,000 DOWN from $1,190,000 in June
Median Days on Market*	57 DOWN from 82 in June	53 DOWN from 100 in June
Total Available March 1**	116 UP from 90 in June	42 UP from 33 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.

Download the report.