Mammoth Lakes Real Estate Market Update – September 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 several years of transactions closed and current inventory.
Condos
| Through 8/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $455,000 | $402,500 | $349,900 | $299,750 | $305,000 | $292,500 | $265,000 | $244,000 |
| Median* Days on Market | 79 | 69 | 70 | 117 | 113 | 89 | 105 | 123 |
| Total Condos SOLD | 241 | 348 | 407 | 304 | 271 | 259 | 345 | 299 |
Through August 2019, condo prices are up approximately 13% over year-end 2018. The trend indicates roughly 4% more condos will sell in 2019, and those that do sell are taking 14% longer to sell than in 2018.
Single-Family Homes
| Through 8/31/19 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
| Median* Sold Price | $774,000 | $890,000 | $750,000 | $682,500 | $694,400 | $619,000 | $580,000 | $575,000 |
| Median* Days on Market | 97 | 113 | 131 | 132 | 165 | 145 | 103 | 181 |
| Total SF Homes Sold | 63 | 87 | 95 | 98 | 91 | 85 | 90 | 91 |
Through August 2019, single family home prices are down approximately 15% from year-end 2018. The trend for 2019 indicates roughly 8% more single family homes will sell in 2019 as in 2018. Those that do sell are selling approximately 16% faster than in 2018.
The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
| Currently Listed | Condos | Single-Family Homes |
| Median Price* | $424,900
DOWN from $429,000 in August |
$1,050,000
NO CHANGE from August |
| Median Days on Market* | 65
UP from 44 in August |
63
UP from 45 in August |
| Total Available September 1** | 129
UP from 128 in August |
69
UP from 65 in August |
*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.
