real estate marketThere 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 August 2015.

Condos YTD  thru

Aug  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$305,000

 

$292,500

 

$265,000

 

$244,000

 

$242,000

Median* Days on Market  

92

 

89

 

105

 

123

 

98

Total Condos SOLD 174 259 345 299 309
 

 

 

Single Family Homes

YTD  thru

Aug  2015

 

2014

 

2013

 

2012

 

2011

 

Median* Sold Price

 

$722,500

 

$615,000

 

$575,000

 

$575,000

 

$560,000

Median* Days on Market  

166

 

145

 

103

 

181

 

120

Total SF Homes SOLD 62 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 4% higher than 2014.

In the single family home category median days on market is up 11% so far in 2015.  The trend also indicates 14% more home sales while the median price is 17% higher.

Of course there is still plenty of time in 2015 for these trends to shift.  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

Down from $359,450 in July

$817,450

Up  from  $769,000 in July

Median* Days on Market 104

Up from 96 in July

114

Up  from 100 in July

Total Available as of Sept 10 188

Down  from 202 in July

82

Down from 95 in July

 

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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