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Mammoth Lakes Real Estate Market Update – Year-End 2019

January 6, 2020

Real Estate

Mammoth Lakes Real Estate Market Update – Year-End 2019

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

2019 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 84 69 70 117 113 89 105 123
Total Condos SOLD 387 348 407 304 271 259 345 299

In 2019 condo prices were up 12% over year-end 2018. Approximately 11% more condos sold in 2019. Those that did sell took 21% longer (up 15 days) to sell than in 2018.

Single-Family Homes

2019 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $767,625 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000 $575,000
Median* Days on Market 96 113 131 132 165 145 103 181
Total SF Homes Sold 94 87 95 98 91 85 90 91

In 2019 single family home prices were down approximately 16% from year-end 2018. Approximately 8% more single family homes sold in 2019. Those that did sell sold about 18% faster (down 17 days) 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* $454,900

DOWN from $462,000 in December

$1,086,000

UP from $1,050,000 in December

Median Days on Market* 72

DOWN from 96 in December

157

UP from 125 in December

Total Available December 1** 64

DOWN from 66 in December

61

DOWN from 64 in December

*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 PDF report.


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