market update newThe Mammoth Lakes real estate market continues to be active through the 4th quarter of 2015.  When reviewing the state of the market, there are several different data points to review 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 September 2015.

Condos YTD  thru

Sept  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$315,000

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

94

 

89

 

105

 

123

 

98

Total Condos SOLD 192 259 345 299 309
 

 

 

Single Family Homes

YTD  thru

Sept  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$685,900

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

160

 

145

 

103

 

181

 

120

Total SF Homes SOLD 66 85 91 91 75

 

In the condo category the median days on market and total units sold is comparable to 2014.  The trend indicates the median sales price is 7% higher than 2014.

In the single family home category median days on market is up 10% so far in 2015 as compared to 2014.  The trend also indicates the number of units sold on track to match 2014 while the sales price has increased 11%.

A lot can change in the last three months of 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 $339,000

Same as August

$817,000

Same as August

Median* Days on Market 105

Up from 104 in Aug

139

Up  from 114 in Aug

Total Available as of Sept 10 153

Down  from 188 in Aug

74

Down from 82 in Aug

 

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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