There 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 three years closed transactions in Mammoth Lakes and January through November  2014.

Condos 2014 (as of 11/30) 2013 2012 2011
Median* Price $300,000 $265,000 $244,000 $242,000
Median* Days on Market  

87

105 123 98
Total Condos SOLD 223 345 299 309
Single Family Homes 2014 (as of 11/30) 2013 2012 2011
Median* Price $615,000 $575,000 $575,000 $560,000
Median* Days on Market  

145

103 181 120
Total SF Homes SOLD 79 91 91 75

 

In the condo market, the sold price for condos through November 2013 is up over 2013.  The days on market has dropped as compared to 2013 for condos but has increased the last few months of 2014.  Unless there is a record breaking December, the total number of condos sold is trending to be the lowest in the last 4 years.

 

The sold price of single family homes has remained relatively flat in 2014. While the median days on market was trending downward, the  trend has changed the last few months resulting in the median days on market being significantly higher than  2013.

 

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 $369,500

Up from $367,250 in Oct

$924,000

Up from  $704k in Oct

Median* Days on Market 96

Up from 79 in Oct

140

Up from 124 in Oct

Total Available as of Dec 2 153

Up from 144 in Oct

67

Down from 71 in Oct

 

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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