Mammoth Lakes Real Estate Market Update – September 2019

September 2, 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 8/31/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$455,000	$402,500	$349,900	$299,750	$305,000	$292,500	$265,000	$244,000
Median* Days on Market	79	69	70	117	113	89	105	123
Total Condos SOLD	241	348	407	304	271	259	345	299

Through August 2019, condo prices are up approximately 13% over year-end 2018. The trend indicates roughly 4% more condos will sell in 2019, and those that do sell are taking 14% longer to sell than in 2018.

Single-Family Homes

	Through 8/31/19	2018	2017	2016	2015	2014	2013	2012
Median* Sold Price	$774,000	$890,000	$750,000	$682,500	$694,400	$619,000	$580,000	$575,000
Median* Days on Market	97	113	131	132	165	145	103	181
Total SF Homes Sold	63	87	95	98	91	85	90	91

Through August 2019, single family home prices are down approximately 15% from year-end 2018. The trend for 2019 indicates roughly 8% more single family homes will sell in 2019 as in 2018. Those that do sell are selling approximately 16% faster than in 2018.

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

Currently Listed	Condos	Single-Family Homes
Median Price*	$424,900 DOWN from $429,000 in August	$1,050,000 NO CHANGE from August
Median Days on Market*	65 UP from 44 in August	63 UP from 45 in August
Total Available September 1**	129 UP from 128 in August	69 UP from 65 in August

*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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