Mammoth Lakes Real Estate Market Update – June 2019
There are several different data points to review when analyzing the current market including median price, days on market and total inventory sold. Below is a snapshot of the last eight years of transactions closed and current inventory.
Condos
| Through 5/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $444,500 | $402,500 | $349,900 | $299,750 | $305,000 | $292,500 | $265,000 | $244,000 |
| Median* Days on Market | 91 | 69 | 70 | 117 | 113 | 89 | 105 | 123 |
| Total Condos SOLD | 149 | 348 | 407 | 304 | 271 | 259 | 345 | 299 |
At the end of May 2019, condo prices are up approximately 10% over year-end 2018. The trend indicates roughly the same number of condos are selling so far in 2019, and those that do sell are taking 30% longer.
Single-Family Homes
| Through 5/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $792,000 | $890,000 | $750,000 | $682,500 | $694,400 | $619,000 | $580,000 | $575,000 |
| Median* Days on Market | 131 | 113 | 131 | 132 | 165 | 145 | 103 | 181 |
| Total SF Homes Sold | 32 | 87 | 95 | 98 | 91 | 85 | 90 | 91 |
At the end of May 2019, single family home prices are down 12% from year-end 2018. Based on the first five months of 2019, the market is trending to sell slightly fewer single family homes as compared to 2019 (down 8%). Those that do sell are taking approximately 16% longer to sell.
The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
| Currently Listed | Condos | Single-Family Homes |
| Median Price* | $439,900
DOWN from $449,000 in May |
$949,000
No change from May |
| Median Days on Market* | 51
DOWN from 55 in May |
57
DOWN from 74 in May |
| Total Available on May 1** | 107
UP from 95 in May |
41
UP from 43 in May |
*Median Price is the middle value for a range of values and 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.
**Total Available excludes properties currently under contract.
