housing marketThere 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 two years closed transaction in Mammoth Lakes and 2013 so far.

Condos  

2013 (as of Nov 30)

2012

2011

Median   Price

$259,000

$244,000

$242,000

Median   Days on Market

103

123

98

Total Condos SOLD

314

299

309

Single   Family Homes

2013 (as of Nov 30)

2012

2011

Median   Price

$575,000

$575,000

$560,000

Median   Days on Market

103

181

120

Total SF Homes SOLD

88

91

75

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

$379,900

$754,000

Median   Days on Market

100

101

Total   Available as of 11/30

109

Relatively flat all of 2013

52

Relatively flat all of 2013

In summary, both condos and single family homes are selling more quickly than 2012 and at a higher price.  Although inventory  levels  have been low throughout 2013, total sales of both condos and single family homes will surpass totals for the previous two years.

What does this mean to you?  Prices are trending slightly up.  People interested in buying should increase their search and also need to be ready to move quickly when the right property is identified.   Sellers can expect to get more than they would have last year at this time.    Of course, there is no crystal ball.  Will the upward trend continue?  Time will tell.

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