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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 8/31/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $490,000 $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 187 387 348 407 304 271 269

After the slow-down in March through May, the data is starting to reflect the increase in activity over the last 90 days. Through August 2020, the median condo price is up 9% over 2019. If we annualize YTD 2020 condos sold, we are on track to sell 38% fewer condos in 2019, but I do not think this trend is accurate as 45% of all condos sold in 2020 were closed in July and August. Condos are selling 19% faster than in 2019 (down 14 days).

Single Family Homes

Through 8/31/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $785,000 $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 62 94 87 95 98 91 85

Through August 2020, the median price of single family homes sold is relatively flat (about 2% variance) as compared to 2019. Annualizing YTD 2020 single family homes sold, we are on track to sell approximately the same number of homes in 2020 as compared to 2019, but I think this trend will shift since 37% of the YTD homes sold closed in July and August. Single family homes are also selling 25% 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* $445,000

DOWN from $421,950 in August

$1,295,000

UP from $1,162,500 in August

Median Days on Market* 39

DOWN from 53 in August

60

DOWN from 65 in August

Total Available March 1** 65

DOWN from 94 in August

33

DOWN from 40 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.

Download the report.

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There are a few different scenarios for homeowners that are struggling to make their mortgage payments or are “underwater” on their homes (and owe more than what it’s worth)—including short sales and foreclosures. While we don’t see many of either in Mammoth Lakes, this may be helpful for those outside the area.

Read More in my blog... Link in Bio...

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Make finding your flashlights easier in a power outage by wrapping glow in the dark tape around the handle. I love simple hacks!

Saved me on more than one occasion!

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Steps to The Village at Mammoth and Canyon Lodge gondola, this totally updated Westin Monache one-bedroom condo is ready for you to enjoy or start renting out today!
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And you know what the A in Zillow stands for, right?!

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Here are a few reasons buyers should finally be feeling more optimistic. 🌟

Wondering if it’s the right time for you to buy a home? We’d be happy to talk through the specifics of your situation. Send us a DM today! 📲

#sonjasellsmammoth #destinationmammoth #mammothrealtor #mammothcabin #mammothcondo #mammothrealestate #bestagentinmammoth
#homebuyertips #homebuyer #firsttimehomebuyer #realestate #realestateagent
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The Mammoth Lakes Ice Rink is officially open! Come join in even more winter fun! Located near the Mammoth Lakes Library.

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Happy Thanksgiving From Beautiful Mammoth Lakes CA!

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Have you watched homes on your street sell for sky-high prices in the past few years?

It’s tempting to aim high when it comes time to sell your home—but proceed with caution.

The market is adapting to rising mortgage rates, and homes simply aren’t selling as fast. Unfortunately, the longer a home is listed, the more buyers’ concerns begin to grow.

Of course, you also don’t want to sell your home for less than it’s worth.

That’s why it’s important to work with a local market expert. We know the ins and outs of the local real estate market and what buyers are willing to pay today.

The good news? If you’ve been in your home for several years, you are likely to have a sizable amount of equity. That means you stand to make a tidy profit. 🤑

Get in touch for a free home value assessment to find out what your home could sell for in today’s market!

📲 760.914.4664
📧 [email protected]

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Mammoth Lakes - Best Ski Town!
Exciting news. Mammoth Lakes has been nominated for Best Ski Town in America in the USA Today 2022 10Best Readers’ Choice travel awards. But also, Clocktower Cellar has been nominated for Best Ski Bar!

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November Market Update!

Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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While I am often accused of being an eternal optimist, there are some valid reasons for having a positive outlook on the current real estate market.

When you’re hearing news about home prices remaining high, and mortgage rates skyrocketing, you might wonder how a real estate agent can possibly claim it’s a great time to buy. Or, on the other hand, you read that sales prices are coming down and it’s taking longer to sell because rates have gone up, it may make you question how agents can claim that it’s a great time to sell.

You might feel like agents always seem to be constantly putting a positive spin on the current real estate market, and think they’re doing it out of self-interest. After all, they only make money if and when someone buys or sells a house, so of course they’d want people to feel like it’s always a great time to buy or sell real estate.

Link to full article in bio.
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"Sonja was so professional and wonderful to deal with. She stepped in when our original realtor bowed out after we drove 5 hours to look at real estate. She stepped in without a single hiccup and then stood by us as we negotiated the purchase price and was with us helping us get the mortgage. She was a full service realtor even doing things not normally done by a realtor. Highly recommend her."

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Curious about what they are building in town near The Stove restaurant?? A new recreation center is coming to Mammoth Lakes! For more check out my blog...

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Sonja is super excited to help her clients sell their St. Anton condo -- they are doing a 1031 exchange and will be buying in another state. The good news is they still own in Mammoth Lakes and will be around for years to come. A local full time resident is the new owner and will call this place home....just in time for the holidays! Thanks to Lauren Tracey and Sierra Escrow.

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How can you get the most money for your home in today’s market? 💰

The real estate market is cooling. But it’s still possible to score a great offer if you follow these tips:

🛠️ Make strategic repairs and improvements
🧹 Declutter and depersonalize
🛋️ Stage your home for success
🧽 Prep for each showing
💸 Price your home correctly from the start

Searching for more home seller strategies to maximize your sale price? Check out our blog post!

🔗 LINK IN BIO

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Mammoth Holiday Tip:
Morrison's is a great dinner option for the whole family. A fan favorite is the Barrumundi.

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OPEN HOUSE!
895 Canyon Blvd #34
Mammoth Lakes, CA 93546

Stop by and check out this condo right next door to Canyon Lodge!
Saturday, November 19
2 PM - 5:30 PM
Hosted by Destination Real Estate REALTOR® Danielle Bauman

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Save your empty toilet paper rolls and dryer lint for DIY fire starters. Just stuff the tubes with the lint and you've got free kindling for your grill, campfire, or fireplace.

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Check out my latest newsletter for all the Mammoth Lakes real estate updates and information!

Link in bio...

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