Mammoth Lakes Market Update – February 1, 2015
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 four years closed transactions in Mammoth.
-
Condos YTD thru Jan. 2015
2014
2013
2012
2011
Median* Sold Price
$332,500
$292,500
$265,000
$244,000
$242,000
Median* Days on Market 82
89
105
123
98
Total Condos SOLD 18 259 345 299 309 Single Family Homes
YTD thru
Jan. 2015
2014
2013
2012
2011
Median* Sold Price
$890,000
$615,000
$575,000
$575,000
$560,000
Median* Days on Market 90
145
103
181
120
Total SF Homes SOLD 7 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).
In both categories it is too early to comment on a 2015 trend.
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 $389,000 Down from $399,000 in Dec.
$924,000 Down from $964k in Dec.
Median* Days on Market 76 Down from 95 in Dec.
154 Up from 150 in Dec.
Total Available as of Feb. 1 153 Up from 129 in Nov
66 Up from 64 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.
