Mammoth Lakes Real Estate Market Update – December 2015
There are several different data points to review when analyzing the current real estate market. These include 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 November 2015.
| Condos | YTD thru
Nov 2015 |
2014 |
2013 |
2012 |
2011 |
|
Median* Sold Price |
$309,900 |
$292,500 |
$265,000 |
$244,000 |
$242,000 |
| Median* Days on Market |
112 |
89 |
105 |
123 |
98 |
| Total Condos SOLD | 245 | 259 | 345 | 299 | 309 |
|
Single Family Homes |
YTD thru
Nov 2015 |
2014 |
2013 |
2012 |
2011 |
|
Median* Sold Price |
$676,250 |
$615,000 |
$575,000 |
$575,000 |
$560,000 |
| Median* Days on Market |
165 |
145 |
103 |
181 |
120 |
| Total SF Homes SOLD | 84 | 85 | 91 | 91 | 75 |
In the condo category median price and days on market are trending higher than 2014 (6% and 25% respectively). If sales stay constant in December, the total condos sold will be 3% higher in 2015.
In the single family home category, median price and days on market are also trending higher than 2014 (10% and 13% respectively). Based on the current trend, the total units sold is trending 7% higher in 2015.
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 | $396,000
Up from $349,000 in Oct. |
$975,000
Up from $817,000 in Oct. |
| Median* Days on Market |
127 Up from 126 in Oct. |
157 Down from 138 in Oct. |
| Total Available on Dec 12 |
122 Down from 139 in Oct. |
65 Down from 67 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.
