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 three years closed transactions in Mammoth Lakes.

Condos 2014 2013 2012 2011
Median* Price $292,500 $265,000 $244,000 $242,000
Median* Days on Market 89 105 123 98
Total Condos SOLD 259 345 299 309
 

 

Single Family Homes 2014 2013 2012 2011
Median* Price $615,000 $575,000 $575,000 $560,000
Median* Days on Market 145 103 181 120
Total SF Homes SOLD 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).

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 $399,000

Up from $369,500 in Nov

$964,000

Up from  $924k in Nov

Median* Days on Market 95

Down from 96 in Nov

150

Up from 140 in Nov

Total Available as of Jan 5 129

Down from 153 in Nov

64

Down from 67 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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