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As of June 1, 2021, the Mammoth Lakes real estate market continues to be hot seller’s market.  What does that mean?  Simply put, it means there are more buyers than sellers.  I continue to receive new buyer calls daily and there are not a lot of options for them.  If/when they do find a property they like, there or multiple offers and often over list price.  The good news for buyers is inventory is slowing increasing which means more options.  The good news for sellers is inventory is nowhere near normal levels so you will continue to have less competition.

In this post, we are going to highlight the numbers you need to know about the Mammoth Lakes real estate market, what it means if you are thinking about buying or selling, and where to get help moving toward your real estate goals this year.

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 the end of May 2021.

Condos

  • The YTD median sales price for condos through April 30, 2021is $565,500 which is up almost 3% over last month and up 22% over 2020.
  • The median days on market is 49 days which is down 18 days from 2020.  This time period begins on the day the property is listed and ends when it closes escrow.
  • 198 condos have closed escrow (average of 39.6 per month) as compared to 2020 where 442 condos sold (average of 37 per month).
  • There are 47 active condos listed for sale as compared to 45 for the previous month.
  • There are 66 pending sales which is down 15% from last month.
Currently ListedCondos
Median* Price$575,000
↓DOWN from $610,000 in April
Median* Days on Market37
↑UP from 27 in April
Total Available on May 1**47
↑UP from 45 in April

Single Family Homes

  • The YTD median sales price for single family homes through May 2021is is $1,500,000 which is flat over the previous month and up 71% over 2020.
  • The median days on market is 62 days which is down 20 days from 2020.  This time period begins on the day the property is listed and ends when it closes escrow.
  • 54 single family homes have closed escrow (average of 10.8 per month) as compared to 2020 where 133 sold (average of 11 per month).
  • There are 20 active single-family homes listed for sale as compared to 17 last month.
  • There are 14 pending sales as compared to 13 last month. 
Currently ListedSingle Family Homes
Median* Price$974,750
↓DOWN from $1,099,000 in April
Median* Days on Market50
↑UP from 32 in April
Total Available on May 1**20
↑UP from 17 in April

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

If priced right, properties are selling quickly in Mammoth Lakes area.  Note the median days on market for sold properties includes the entire escrow period (30 days on average).  As the numbers indicate, this is a great time to sell.  No one can predict how long this seller’s market will last.  The inventory levels have not increased as expected keeping competition high for the few active listings.  If you are even remotely thinking about selling, contact me for a free consultation and evaluation of your property.  This will include a recommendation for pricing as well as suggestions for preparing your property for sale.  I am reminding sellers that just because this is a seller’s market, we still need to price right.  The properties that price slightly below the current market value are receiving multiple over list price offers.  The properties that are priced too high are just sitting there with no showings and no offers.  Not to be harsh, although it is a great time to sell it is not a time to be greedy.  Greedy sellers have property that is just sitting and getting no showings or offers.

What Does This Mean for Mammoth Lakes Area Home Buyers?

With such low inventory available in Mammoth Lakes, buyers need to be ready to act quickly when they find a property they are interested in.  Do you have your financials in order?  Do you need a pre-approval letter?  I can connect you with lenders who have a proven track record of success in our area.  Many buyers do not know that not all lenders can lend in certain projects in Mammoth Lakes.  I 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

Many have asked if the real estate market is going to crash.  Specifically, how is today’s market different than the one that caused the 2008 meltdown.  Check out my blog post which directly addresses this question.  

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.  I 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.

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Beautiful evening for a walk with friends 🐾 Poppy and Tinker posing in paradise 😊 ...

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Lots of properties on Agent Caravan on Thursday, May 26. What is Agent Caravan?

This is an opportunity for local Realtors® to view the new listings. We do this every Thursday from 9 AM - 11 AM. Contrary to what my friends think....we are not all on a big party bus driving around town LOL!!!

This week is the biggest caravan of the year (12 properties ranging in price from $500k to $2.5M) because inventory has finally started to increase. So.....if you are looking for something to do....stop by one of these properties. Everyone is welcome! If you are working with a Realtor® be sure and tell the person at the Open House.....otherwise we think you could be a new client for us!!

I will be at 354 Joaquin #4 -- stop by and say hello and I will give you a list of the other 11 properties on caravan.
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Tonight kicks off the Mammoth Lakes Film Festival! Come see amazing films and party with the artists till Sunday! Another fun and local event for Mammoth Lakes!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #summerfun
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Don't miss out....

Come by and see this beautiful 3 bedroom home at 33 Kelley Road in Mammoth Lakes on Saturday, May 28. OPEN HOUSE from 2 PM - 5:30 PM.

LINK IN BIO for details.
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You’re probably well aware that mortgage rates are rising. At the same time, home prices don’t seem to be coming down, there’s still a ton of competition, and you’re probably no stranger to bidding wars when you make an offer on a house. More in my blog. Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
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Attended the ribbon cutting for Mammoth Lakes new Disc Golf Park. Such a beautiful course built in our local paradise. A lot of work by local individuals, business and town government came together to make this happen. THANK YOU! Check it out next time you are in town! I have never played but I am going to learn! #mammothlakesrecreation #townofmammothlakes #lovewherewelive #paradise ...

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Preparing for summer in Mammoth like...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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"Thank you so much for your guidance and expertise in helping us to buy our dream home.
I am so grateful for your hard work and patience with all our questions at every step of the process. I genuinely trusted that you were looking out for our best interests and had our backs throughout this exciting and stressful process."

-Andrew & Cara

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #testimonials
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Whew! This was only a 7 day escrow and we did it! So many offers on this one but the CASH offer with a quick close was just what my client was looking for! Thank you to Sara Knadler for bringing a quality buyer and for a smooth transaction. Sierra Escrow made it happen!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
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Eric Van Winkle making a difference on Town Clean Up Day this past weekend! Way to represent Eric and the Mammoth Lakes Board of Realtors! #mammothlakes #TOML #communityspirit #towncleanupday #loveourcommunity ...

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Swimming with dozens of Black Tip sharks and rays was exhilarating and fun (well after I got over my initial hesitation)! The water was so clear and these creatures were quite social! The tour was amazing - we went on to see a 12 foot Eagle ray below us while snorkeling! #tripofalifetime #conradboraboranui #pinchme #godisgreat #lifeisgood #blacktipshark #borabora #porapora @johnbushmammothloco ...

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Today is the first day of Day Pass Reservations for Yosemite National Park! If you're in the area remember to make sure you have a reservation to get into @yosemite this summer!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #summerfun #yosemite #nature
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OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
...

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I know it's something we don't want to think about... but with technology today a seller can be listening or recording you while you view their home. Make sure to be conscious and aware of that and always share your opinions outside or quietly.

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #realestatetips #realestatetipsandtricks
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Make sure to show your love and support as we go into the busy summer season to all the amazing workers who make Mammoth such an amazing, beautiful, and safe place to live. Thank you to all our rangers, forest service, hospital workers, police, first responders, SAR members and more!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate
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That’s a wrap! 40th anniversary trip was AMAZING - don’t know where we could possibly go from here!! Truly a trip of a lifetime. So grateful ❤️ Headed back to reality tonight with arrival in 🇺🇸 tomorrow. Photos coming soon 🌴 #borabora #conradboraboranui #loveourlife #ThankYouGod #lovetotravel #pinchme @johnbushmammothloco ...

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My buyers missed out in a multiple offer situation earlier this year and it happened for a reason. 924 Links Way was meant to be their Mammoth Lakes home! It is perfect for them. Things happen for a reason, right? So excited!' @side_realestate

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