real estate market

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 three years closed transactions in Mammoth Lakes and the first half  of 2014.

Condos 2014 (as of 7/18) 2013 2012 2011
Median Price $307,500 $265,000 $244,000 $242,000
Median Days on Market  

82

105 123 98
Total Condos SOLD 124 345 299 309
Single Family Homes 2014 (as of 7/18) 2013 2012 2011
Median Price $650,750 $575,000 $575,000 $560,000
Median Days on Market  

148

103 181 120
Total SF Homes SOLD 42 91 91 75

 

So far in 2014, the price of condos is steadily increasing and is higher than the median for the previous three year period.    The median days on market dropped yet again the condo category in June.  Keep in mind the median days on the market is calculated from the date of the listing to the close of escrow — with an average escrow being 30 days, properties are under contract in a little over two weeks.

The price of single family homes and the days on market have both stayed relatively flat in 2014.

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 $324,975

Down from $339k in May

$727,000

Down  from $785k in May

Median Days on Market 79

Down from 82 in May

79

Down from 100 in May

Total Available as of July 18 152

Up from 126 in May

86

Up from 67 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.

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