Mammoth Lakes Real Estate Market Update – March 2020
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 several years of transactions closed and current inventory.
Condos
| Through 2/29/20 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
| Median* Sold Price | $439,000 | $450,000 | $402,500 | $349,900 | $299,750 | $305,000 | $292,500 | $265,000 |
| Median* Days on Market | 103 | 84 | 69 | 70 | 117 | 113 | 89 | 105 |
| Total Condos SOLD | 51 | 387 | 348 | 407 | 304 | 271 | 259 | 345 |
In 2019, condo prices were up 12% over year-end 2018. Approximately 11% more condos sold in 2019 and those that did sell took 21% longer (up 15 days) to sell than in 2018. It is too early to identify 2020 trends.
Single-Family Homes
| Through 2/29/20 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
| Median* Sold Price | $807,000 | $767,625 | $890,000 | $750,000 | $682,500 | $694,400 | $619,000 | $580,000 |
| Median* Days on Market | 143 | 96 | 113 | 131 | 132 | 165 | 145 | 103 |
| Total SF Homes Sold | 16 | 94 | 87 | 95 | 98 | 91 | 85 | 90 |
In 2019 single family home prices were down approximately 16% from year-end 2018. Approximately 8% more single family homes sold in 2019. Those that did sell sold about 17% faster (down 17 days) than in 2018. It is too early to identify 2020 trends.
The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
| Currently Listed | Condos | Single-Family Homes |
| Median Price* | $472,000
UP from $459,500 in February |
$1,189,000
UP from $1,125,000 in February |
| Median Days on Market* | 28
DOWN from 47 in February |
129
DOWN from 165 in February |
| Total Available March 1** | 64
UP from 58 in February |
47
DOWN from 49 in February |
*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.
