market update newThere are several different data points to review when evaluating the current 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 October 2015.

Condos YTD  thru

Oct  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$309,000

 

$292,500

 

$265,000

 

$244,000

 

$242,000

 

Median* Days on Market

 

100

 

89

 

105

 

123

 

98

 

Total Condos SOLD

 

219

 

259

 

345

 

299

 

309

 

Single Family Homes

YTD  thru

Oct  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$677,500

 

$615,000

 

$575,000

 

$575,000

 

$560,000

 

Median* Days on Market

 

167

 

145

 

103

 

181

 

120

 

Total SF Homes SOLD

 

79

 

85

 

91

 

91

 

75

 

In the condo category the total units sold is trending to end almost identical to 2014.  The trend indicates the median sales price and median days on market are both higher (5% and 12% respectively).

In the single family home category median days on market is up 15% so far in 2015 as compared to 2014.  The trend also indicates the number of units sold and sales price are trending higher in 2015 (12% and  10% respectively)

There is still time for the trends to shift in 2015 especially as interest continues to increase with the strong “El Nino” predictions.    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  

$349,000

Up from $339,000 in Sept.

 

$999,000

Up from $817,000 in Sept.

Median* Days on Market  

126

Down from 105 in Sept.

 

138

Down from 139 in Sept.

Total Available as of Nov 5  

139

Down  from 153 in Sept.

 

61

Down from 74 in Sept.

 

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.

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.