real estate marketThere are several different data points to review when evaluating the latest market statistics 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

April  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$300,000

 

$292,500

$265,000 $244,000 $242,000
Median* Days on Market  

94

 

89

105 123 98
Total Condos SOLD 89 259 345 299 309
 

Single Family Homes

YTD  thru

April  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$697,500

 

$615,000

$575,000 $575,000 $560,000
Median* Days on Market  

168

 

145

103 181 120
Total SF Homes SOLD 28 85 91 91 75

 

In both categories, single family home and condo, 2015 is on track to almost match 2014 numbers identically in terms of total units sold.  The median days on market for condos is slightly higher than 2014 while days on market for single family homes is up significantly.  In terms of median price, both categories are up from 2014 – 3% for condos and 12% for single family homes.

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 $370,000

Down from $385,000 in Mar.

$1,075,000

Up from $1,035,000 in March

Median* Days on Market 83

Up from 79 in March

94

Down from 177 in March

Total Available as of March 3 167

Up  from 165 in March

71

Up from 66 in March

 

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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