Mammoth Lakes Real Estate Market Update – November 2020

November 4, 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 10/31/20	2019	2018	2017	2016	2015	2014
Median* Sold Price	$487,500	$450,000	$402,500	$349,900	$299,750	$305,000	$292,500
Median* Days on Market	70	84	69	70	117	113	89
Total Condos SOLD	352	387	348	407	304	271	269

Through October 2020, the median condo price is up 8% over 2019. If we annualize year-to-date 2020 condos sold, we are on track to sell 9% more condos than in 2019. Condos are selling 20% faster than in 2019 (down 14 days).

Single Family Homes

	Through 10/31/20	2019	2018	2017	2016	2015	2014
Median* Sold Price	$839,999	$767,625	$890,000	$750,000	682,500	694,400	$619,000
Median* Days on Market	90	113	113	131	132	165	145
Total SF Homes Sold	101	94	87	95	98	91	85

Through October 2020, the median price of single family homes sold is up 9% over 2019. Annualizing year-to-date 2020 single family homes sold, we are on track to sell nearly 30% more in 2020 as compared to 2019. Single family homes are also selling 25% faster in 2020 than in 2019 (down 23 days).

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

Currently Listed	Condos	Single-Family Homes
Median Price*	$474,500 UP from $417,500 in October	$1,749,000 UP from $1,198,000 in October
Median Days on Market*	37 DOWN from 45 in October	64 UP from 39 in October
Total Available on Nov. 1**	38 DOWN from 42 in October	28 DOWN from 33 in October

*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.