real estate marketThere 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 four  years closed transactions in Mammoth Lakes and what has happened so far in 2015.

Condos YTD  thru March 2015  

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$294,500

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

87

 

89

 

105

 

123

 

98

Total Condos SOLD 66 259 345 299 309
 

Single Family Homes

YTD  thru

March 2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$895,000

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

168

 

145

 

103

 

181

 

120

Total SF Homes SOLD  

20

 

85

 

91

 

91

 

75

 

In summary, the number of condos sold is the lowest amount in the last four years (28% less than 2013) while the median price has risen (10% higher than 2013) and days on market has decreased (16% lower than 2013) .

For single family homes,  the number of homes has stayed relatively flat while the price and days on market have both increased over 2013 (7% and 40% respectively).

Through the first quarter of 2015, total units sold is trending similar to 2014.  The median days on market is trending similar to 2015 in the condo category but is up significantly in the single family home category.

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 $385,000

Down  from $399,000 in Feb.

$1,035,000

Down  from  $968k in Feb.

Median* Days on Market 79

Up from 78 in Feb.

177

Up from 174 in Feb.

Total Available as of April  1 165

Down  from 151 in Feb.

66

Up from 63 in Nov

 

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.

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