real estate marketThere are several different data points to review when evaluating the local real estate market 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 through July 2015.

Condos YTD  thru

July  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$312,500

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

92

 

89

 

105

 

123

 

98

Total Condos SOLD 134 259 345 299 309
 

Single Family Homes

YTD  thru

July 2015

 

2014

2013 2012 2011
 

Median* Sold Price

 

$875,000

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

204

 

145

103 181 120
Total SF Homes SOLD 42 85 91 91 75

 

In the condo category the median days on market is comparable to 2014.  The trend indicates 12% fewer overall sales while the median sales price is 7% higher than 2014.

In the single family home category median days on market is up 40% so far in 2015.  The trend also indicates 16% fewer home sales while the median price is 42% higher.  Note:  of the 42 single family homes sold so far in 2015, 26 of them were over $1,000,000).

Of course there is still plenty of time in 2015 for these trends to shift.  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 $359,450

Up  from $359,000 in May

$769,000

Down  from  $949,000 in May

Median* Days on Market 96

Up from 92 in May

100

Up  from 78 in May

Total Available as of August 9 202

Up  from 193 in May

95

Up from 77 in May

 

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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