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

Condos 2014 (as of 9/30) 2013 2012 2011
Median* Price $305,000 $265,000 $244,000 $242,000
Median* Days on Market 82 105 123 98
Total Condos SOLD 172 345 299 309
Single Family Homes 2014 (as of 9/30) 2013 2012 2011
Median* Price $661,656 $575,000 $575,000 $560,000
Median* Days on Market 148 103 181 120
Total SF Homes SOLD 62 91 91 75

 

The first half of 2014 showed a steady increase in the median price of condos however that same measurement has remained relatively flat since July.  As of September 30, 2014 the median condo price is trending 12+% over 2013. The median days on market dropped yet again the condo category in September.  Keep in mind the median days on the market is calculated from the date of the listing to the close of escrow — with an average escrow being 30 days, properties are under contract in a little over two weeks.

The price of single family homes and the days on market have both stayed relatively flat in 2014.

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 $369,500Up from $349k in August $799,000Up from  $704k in August
Median* Days on Market 99Up from 72 in August 112Up from 81 in June
Total Available as of 9/30 130Down from 132 in August 73Down from 82 in June

 

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

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

Link in Bio...

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

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

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

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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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