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The Mammoth Lakes real estate market continues to stabilize as we enter September.  After a crazy couple of years, locally it is no longer a sellers’ market and things are more balanced.  In a balanced market buyers tend to place reasonable offers on homes and sellers tend to accept them. In most cases, homes remain on the market for a moderate amount of time — neither lagging for months nor getting snapped up in mere hours or days. Home prices remain stable or grow at a steady pace.  Although pricing and days on market are more stable locally, the YTD median sold price for both condos and single-family homes is up.  Interestingly, September 2022 inventory is approximately half of what it was September 2019 (pre-COVID).

What’s Happening in the Mammoth Lakes Real Estate Market?

It is helpful to look at the current market in two different segments:  single-family homes and condos/ townhomes.  This data is through August 2022.

Condos

  • The YTD median sales price for condos sold through August 2022 is $795,000 which is up 30% over 2021 and down $5,000 from the previous month.
  • The median days on market YTD is 49 days which is down 3 days from 2021.  This time-period begins on the day the property is listed and ends when it closes escrow.
  • 234 condos have closed escrow so far in 2022 (29 per month) as compared to 2021 when the average was 38 per month. Assuming the trend continues, the result will be 31% fewer condo sales for 2022.
  • There are 61 active condos listed for sale as of September 1 compared to 74 last month.  There were only 3 condos listed in January 2022.  While inventory is up from earlier this year, it is down from pre-COVID levels (September 2019 there were 129 condos listed for sale).
  • There are 44 pending sales on September 1 as compared to 36 last month.

Single-Family Homes

  • The YTD median sales price for single-family homes through August 2022 is $1,230,000 which is up approximately 15% over 2021 and the same as last month.
  • The median days on market is 64 days which is the same as last month and down from 70 days in 2021. 
  • 61 single-family homes closed escrow through August 2022 (7.6 per month) which is down from 11 average monthly in 2021. Assuming the trend continues, 45% fewer homes will sell in 2022. 
  • There are 26 active single-family homes listed for sale on September 1 which is up from 32 last month and 10 in January.  September 2019 (pre-COVID) inventory was 69.
  • There are 12 pending sales on September 1 which is down from 9 last month.

What Does This Mean for Mammoth Lakes Area Homeowners and Sellers?

It is important to have realistic expectations when selling your property.  Mammoth Lakes is a different market than other areas in California which are mostly focused on full-time owner-occupied properties.   This is mostly a second home market and as we transition to a more balanced market, sellers should not expect multiple over asking price offers.  While properties are still selling, most are taking longer than they did in the last 24 months.  If you are even remotely thinking about selling, contact our team to schedule a no obligation Property Playbook & Strategy session.   With the right strategy and patience, we will get your property sold. 

What Does This Mean for Mammoth Lakes Area Home Buyers?

Inventory is slowing increasing which means more options.  It does not mean there are “deals” to be had – note the average sold price is still up over 2021.  Even with more inventory, buyers still need to be prepared prior to making any offers in this market.  Do you have your financials in order?  Do you need a pre-approval letter?  We can connect you with lenders who have a proven track record of success in our area.  Lending rules have changed on many condo projects in Mammoth.  Many buyers do not know that not all lenders can lend in certain projects in Mammoth Lakes.  We can help you increase your chances of securing the property of your dreams in this tough market so reach out to me for a free consultation to set you on the right path for achieving your goal of owning property in Mammoth Lakes.  

Conclusion

Whether you are a seller or a buyer, there is no doubt you will benefit from teaming with an educated and experienced Realtor® to help you navigate this hot market.  We have created guides to help with both the buying and selling process.  You can access the guides on my website:

Ultimate Mammoth Lakes Sellers Guide

Ultimate Mammoth Lakes Buyers Guide

Notes:

  1. All data are sourced from the Mammoth Lakes Board of Realtors. Data for Mammoth Lakes ONLY and not the surrounding areas.
  2. *Median price = middle value.  This is used as a good indicator when there is significant data as it minimizes the impact of unusually high or low values and provides a better perspective of the big picture.
  3. **Total Available excludes properties under contract/pending which have not yet closed.

Follow Along on Instagram

In case you missed it, here is the September newsletter! October coming soon!

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#sonjasellsmammoth #mammothcondos #mammothrealestate
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Last day with my 2 special house guests. Went on a walk in the meadow behind our house and they just love the water! I will miss your cuddles🐾 See you soon ❤️ ...

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It's October, which means all the cobwebs and dust In your house just become Halloween decorations*

*unless It's listed for sale... In that case, get to cleanin'!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
...

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Congratulations to my client on the sale of this upgraded Forest Meadow condo. Hal has owned the place for 40+ years so this was a big deal for him. Time to move on to his next chapter and he is thrilled a full time local will be the new owner! Thanks to Brandee & Nicole @nexthomemammoth and the team at Sierra Escrow for a smooth transaction.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate @side_realestate
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Enjoy beer, a Bavarian Buffet from the EATery, and a silent auction benefiting the Rotary College Scholarship for local students.

October 13th!

More info at MLT's Website!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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Open House Today! Come see this incredible property for yourself!

44 Wagon Wheel Drive
Sunday, October 2
4 PM - 6:30 PM

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#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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4 0

Fall is here! Happy colors in the mountains!

I don't think most people realize how beautiful it is -- nice weather, fewer people and fall colors. So much to love!

Go to Mono County Tourism to sign up to find the best places to see the beautiful fall colors!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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Late Friday afternoon walk with our 2 houseguests. #lovewherewelive #mammothlakes #visitmammoth ...

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Sonja recently helped me purchase a condo. My experience with her was only positive. She's knowledgeable, thorough and friendly. She is the consummate professional and the standard to which I would hold any real estate agent. - Alexander R.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #testimonials @side_realestae
...

1 0

Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

💲The market is unpredictable — even experts can’t guarantee what it will do next!
☑️ You could pay more to buy your next home the longer you delay.
🤝 It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale 🏡

Contact us to start a conversation about the right time to make your move.

#realestatetips #realestate #houseforsale #greatvalue #newlisting #mammothrealestate #mammothcondos #mammothcabins #sonjasellsmammoth #mammothmarkettrends #timingthemarket #destinationmammoth
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BIG bright windows are the main attraction in this spacious 2 bed/2 bath condo in St. Anton. This complex is next door to Canyon Lodge – one of the shortest walks of any Mammoth location! Come see this condo today and get ready for the best winter season of your life!

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#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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4 0

If you're renting but plan on buying a house in the near, don't renew your lease without going month-to-month or making sure you can cancel it by giving your landlord a month or two notice.

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Thursday, September 29
9 AM - 11 AM

Stop by and tour 3 amazing Mammoth Lakes Properties tomorrow!!!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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...

6 0

Beautiful sunset tonight.

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#sonjasellsmammoth #mammothcondos #mammothrealestate
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...

20 1

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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#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #testimonials
...

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

12 2

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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#sonjasellsmammoth #mammothcondos #mammothrealestate
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