Mammoth Lakes Real Estate Update – March 1, 2016

March 2, 2016

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 five years transactions closed and current inventory.

Condos		YTD 2016 Thru Feb 29	2015	2014	2013	2012	2011
Median* Sold Price		$313,000	$306,250	$292,500	$265,000	$244,000	$242,000
Median* Days on Market		126	113	89	105	123	98
Total Condos SOLD		45	270	259	345	299	309
	There is insufficient data to evaluate YTD 2016 trends. Summary for condo category for 2015 as compared to 2014: Median Sold Price: ↑Up 5% over 2014 Median Days on Market: ↑Up 26% over 2014 Total Condos Sold: ↑Up 4% over 2014
Single Family Homes		YTD 2016 Thru Feb 29	2015	2014	2013	2012	2011
Median* Sold Price		$590,000	$687,200	$615,000	$575,000	$575,000	$560,000
Median* Days on Market		269	166	145	103	181	120
Total SF Homes SOLD		9	90	85	91	91	75
	There is insufficient data to evaluate YTD 2016 trends. Summary for single family home category for 2015 as compared to 2014: Median Sold Price: ↑Up 12% over 2014 Median Days on Market: ↑Up 14% over 2014 Total SFH Sold: ↑Up 6% over 2014

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

CURRENTLY LISTED	Condos	Single Family Homes
Median* Price	$379,250 ↓Down from $391,950 Jan.	$995,000 ↓Down from $999,999 in Jan.
Median* Days on Market	74 ↓Down from 84 in Jan.	118 ↓Down from 163 in Jan.
Total Available as of Jan 31	156 ↓Down from 166 in Jan.	67 ↑Up from 59 in Jan.

If you are interested in buying or selling, a qualified Realtorâ can provide the relevant data for your specific neighborhood or area of interest.

*Median Price = Is the middle value for a range of values. This 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.