Mammoth Lakes Real Estate Market Update – May 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 4/30/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $427,250 | $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 | 106 | 348 | 407 | 304 | 271 | 259 | 345 | 299 |
At the end of April 2019, condo prices are up approximately 6% over year-end 2018. Fewer condos are selling so far in 2019 (trending down 8% over 2018) and those that do sell are taking 30% longer to sell.
Single-Family Homes
| Through 4/30/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $799,000 | $890,000 | $750,000 | $682,500 | $694,400 | $619,000 | $580,000 | $575,000 |
| Median* Days on Market | 140 | 113 | 131 | 132 | 165 | 145 | 103 | 181 |
| Total SF Homes Sold | 30 | 87 | 95 | 98 | 91 | 85 | 90 | 91 |
At the end of April 2019, single family home prices are down 11% from year-end 2018. Based on the first four months of 2019, the market is trending to sell about the same number of homes. Those that do sell are taking approximately 25% 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* | $449,000
DOWN from $469,000 in April |
$949,000
DOWN from $995,000 in April |
| Median Days on Market* | 55
DOWN from 73 in April |
74
DOWN from 116 in April |
| Total Available on May 1** | 95
UP from 89 in April |
43
UP from 34 in April |
*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.
