Real Estate Market Today in Mammoth Lakes CA

February 27, 2013

Real Estate

Where is Mammoth Lakes

What’s happening in Mammoth Lakes real estate?

There are several different data points to review when answering this question including median price, days on market and total inventory sold. Below is a snapshot of the last two years in Mammoth Lakes.

Condos	2013 (as of 2/26)	2012	2011
Median Price	$269,000	$244,000	$242,000
Median Days on Market	132	123	98
Total Condos SOLD	36	299	309

Single Family Homes	2013 (as of 2/26)	2012	2011
Median Price	$570,000	$575,000	$560,000
Median Days on Market	143	181	120
Total SF Homes SOLD	11	91	75

While this information is useful in observing trends, the current inventory must also be considered. Below is a snapshot of the available properties available today:

CURRENTLY LISTED	Condos	Single Family Homes
Median Price	$374,000	$1,106,000
Median Days on Market	112	223
Total Available Today	129	48

In summary, the median days on the market is rising while inventory is declining. Despite these trends, the median price appears to be increasing. In speaking with real estate professionals in southern California this was a similar situation for them a few months ago but now they are seeing significantly increased prices. Although there is no crystal ball telling us the future, history tells us Mammoth Lakes real estate generally follows southern California trends by six months.

What does this mean to you? Buyers can get a good price on a property today if they find something they like in the limited inventory. Sellers can expect to get more than they would have last year if but need to be patient since it may take time to sell.

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