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 four  years closed transactions in Mammoth Lakes and what has happened so far in 2015.

Condos YTD  thru Feb. 2015  

2014

2013 2012 2011
 

Median* Sold Price

 

$290,00

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

93

 

89

 

105

 

123

 

98

Total Condos SOLD 39 259 345 299 309
 

Single Family Homes

YTD  thru

Feb. 2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$915,000

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

167

 

145

 

103

 

181

 

120

Total SF Homes SOLD 15 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 $399,000

Up  from $389,000 in Jan.

$968,000

Up  from  $924k in Jan.

Median* Days on Market 78

Up from 76 in Jan.

174

Up from 154 in Jan.

Total Available as of Mar.  1 151

Down  from 153 in Jan.

63

Down from 66 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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