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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 9/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $480,000 $450,000 $402,500 $349,900 $299,750 $305,000 $292,500
Median* Days on Market 70 84 69 70 117 113 89
Total Condos SOLD 272 387 348 407 304 271 269

After the slow-down in March through May, the data is now reflecting the increase in activity over the last four months. Through September 2020, the median condo price is up nearly 7% over 2019. If we annualize YTD 2020 condos sold, we are on track to sell 7% fewer condos than in 2019. Condos are selling 20% faster than in 2019 (down 14 days).

Single Family Homes

Through 9/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $815,000 $767,625 $890,000 $750,000 682,500 694,400 $619,000
Median* Days on Market 92 113 113 131 132 165 145
Total SF Homes Sold 85 94 87 95 98 91 85

Through September 2020, the median price of single family homes sold is up 6% over 2019. Annualizing YTD 2020 single family homes sold, we are on track to sell 20% more in 2020 as compared to 2019. Single family homes are also selling 22% more quickly in 2020 than 2019 (down 21 days).

The current inventory provides an indication of potential activity. Below is a snapshot of current listings:

Currently Listed Condos Single-Family Homes
Median Price* $417,500

DOWN from $445,000 in September

$1,198,000

DOWN from $1,295,000 in September

Median Days on Market* 45

UP from 39 in September

39

DOWN from 60 in September

Total Available March 1** 42

DOWN from 65 in September

33

SAME as September

*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.

Download the report.

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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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Beautiful day at the village. I love the clouds and like to look for shapes or object -- what do you see?

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Amazing two-bedroom condo next door to Canyon Lodge! Ski all season long in this cozy mountain home!

Properties Link Below:
https://www.destinationmammoth.com/properties/

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Hope everyone is having an amazing time at the Mammoth Trail Fest! If you haven't already make sure to check out this awesome event the rest of the weekend!

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Beautifully updated two-bedroom slope side condo just listed for sale. Check it out!

Link in Bio...

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What does “Months of Supply” tell us about the market?

To break it down simply:

📊Balanced Market = 6 to 7 months of supply
There are a relatively even number of buyers and sellers.

📈Seller’s Market = Fewer than 6 months of supply
There are more buyers than homes for sale, thus sellers hold the upper hand.

📉 Buyer’s Market = More than 7 months of supply
There are more homes for sale than willing and able buyers, thus buyers have more negotiating power.

Have a question about current market trends? Reach out at any time! We’re here to help you decode the lingo and make the most of today’s market 👨‍💻

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SNEAK PEAK! This two-bedroom condo next door to Canyon Lodge will be listed for sale in the next 24 hours!

Check out an early video tour now on our YouTube!

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I love working with awesome realtors like Heidi Vetter! How thoughtful is this?!” @vetter_heidi ...

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If your agent isn't available, don't call a random agent to show you a house you're interested in seeing if you plan on having your agent write an offer if you like the house. Agents don't get paid for simply showing houses, so it's inconsiderate to ask an agent to show you a house they have no chance of selling to you.

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The Mountain & Adventure Film Festival is entering its 9th year, this 3 day, free festival celebrates the best adventure films and athletes of the year. Films are shared nightly, outdoors, in the Mammoth Mountaineering Supply parking lot. Runs Thursday September 22nd - the 24th!

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What is your favorite season in Mammoth Lakes? #destinationmammoth #visitmammoth ...

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The Destination Real Estate team will definitely volunteer for the cause.

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In a study published in July 2015, a team of psychologists concluded that "having 10 more trees in a city block, on average, improves health perception in ways comparable to an increase in annual personal income of $10,000 and being 7 years younger."

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Today is the inaugural Mammoth Tuff, a gravel ride event offering two distances to riders with unforgettable views of surrounding areas and culminating with a party in The Village!

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This single family home in Sunny Slopes received multiple offers within days of being listed. This 4 bedroom+loft home sits on 1/4 acre lot and feels so private while offering great views of Mt. Wheeler and Sierra Crest off of the front deck. I co-listed this with the amazing Heidi Vetter with June Lake properties and it was fun working as a team! Thank you to our sellers for allowing us to help you make this happen and special thanks to the listing agent, Zuleyka Farnes with Mammoth Sierra Properties, escrow company, Inyo Mono and Shelly Logeman & Toni McGraw with CrossCountry mortgage for bringing this one together! @side_realestate

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You’ve probably been hearing in the news lately that the real estate market is “shifting.” Well, according to this realtor.com article, many economists feel that we’ve moved from shifting into a “balanced” market. In other words, it’s not really a sellers’ market or a buyers’ market.

More information in my blog!
Link in Bio...

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