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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.

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Beautiful sunset tonight.

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11 1

Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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9 0

#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

12 2

If you have a light fixture you want to keep and take with you to your next home, take it down and replace it before you put your house on the market. You can also leave it up and "exclude" it from the sale within your listing, but it can cause issues if a buyer sees it and wants it. Avoid problems by removing it ahead of time.

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4 0

Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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8 0

Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

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...

4 0

Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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8 0

Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

Link in Bio...

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...

5 0

What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

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...

7 0

I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

8 0

If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

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0 0

The Mountain & Adventure Film Festival is entering its 9th year, this 3 day, free festival celebrates the best adventure films and athletes of the year. Films are shared nightly, outdoors, in the Mammoth Mountaineering Supply parking lot. Runs Thursday September 22nd - the 24th!

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9 0

What is your favorite season in Mammoth Lakes? #destinationmammoth #visitmammoth ...

3 1

The Destination Real Estate team will definitely volunteer for the cause.

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...

6 3

You know, I hear there are a lot of trees in Mammoth Lakes... hmmmm...

In a study published in July 2015, a team of psychologists concluded that "having 10 more trees in a city block, on average, improves health perception in ways comparable to an increase in annual personal income of $10,000 and being 7 years younger."

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