There 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 May 2015.

Condos YTD  thru

May  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$312,500

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

 

94

 

 

89

 

 

105

 

 

123

 

 

98

Total Condos SOLD 102 259 345 299 309
 

 

 

Single Family Homes

 

 

YTD  thru

May 2015

 

 

 

2014

 

 

 

2013

 

 

 

2012

 

 

 

2011

 

Median* Sold Price

 

$720,000

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

 

170

 

 

145

 

 

103

 

 

181

 

 

120

Total SF Homes SOLD  

31

 

85

 

91

 

91

 

75

 

In the condo category the median days on market is comparable to 2014.  The trend indicates 6% 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 15% so far in 2015.  The trend also indicates 13% fewer home sales while the median price is 17% higher.

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 $359,000

Down from $370,000 in April

$949,000

Down  from  $1,075,000 in April

Median* Days on Market 92 up from 83 in April 78 down from 94 in April
Total Available as of May 30 193 up from 167 in April 77 up from 71 in April

 

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 = 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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