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market analysisThe first half of 2013 has been a roller coaster ride as far as home prices and the number of listings we have seen in the Mammoth Lakes area.  Average listing prices are down while median sales prices in Mammoth are up.

So, how is the market in Mammoth Lakes? There are several different data points to review when answering this question including median price, days on market and total inventory sold.   Below is a snapshot of the last two years closed transaction in Mammoth Lakes and 2013 so far.

Condos  

2013 (as of 6/19)

2012

2011

Median   Sold Price

$255,000

$244,000

$242,000

Median   Days on Market

107

123

98

Total Condos SOLD

155

299

309

Single   Family Homes

2013 (as of 6/19)

2012

2011

Median   Sold Price

$570,000

$575,000

$560,000

Median   Days on Market

123

181

120

Total SF Homes SOLD

38

91

75

While this information is useful in observing trends, the current inventory must also be considered.  Below is a snapshot of the available properties available today:

CURRENTLY LISTED

Condos

Single Family Homes

Median   Price

$330,000

$806,250

Median   Days on Market

91

92

Total   Available Today

106

66

In summary, both condos and single family homes are selling more quickly and at a higher price in 2013 than in the previous two years.   The total number of sales is trending similar to 2012.  Inventory levels  for condos is low (down 12% from January).   Single family home inventory is relatively flat so far this year.   Based on actual closed sales so far this year, the trend indicates there will be more condos sold this year than last.   Of course, inventory is needed to continue the trend.

Mammoth Lakes has historically followed Orange County and San Diego by 6-8 months.  These areas are still in an upward cycle.   The average price per square foot in Anaheim, CA is up 19.1 percent compared to this time last year.  The median home sales price in Anaheim increased 22.4 percent compared to this time last year as well.  Mammoth Lakes saw an increase of 0.1% in median home sales prices compared to this time last year.  With Mammoth about 6-8 months behind Anaheim and Orange County, California, an upswing may well be indicated here as well.

According to the National Association of Realtors, national sales are up from a year ago in median-priced homes and higher-priced homes.  Sales in the lowest priced category were down in the West, South, and Northeast due to limited inventory in this price range.    The national gain in median home prices is the best year-over-year performance in over seven years according to the latest quarterly report by the National Association of Realtors.  Will the upward trend continue?  Time will tell.

What does this mean to you?  Prices are trending up.  Anyone interested in buying should increase their search and identify a property before prices go higher.    This may be challenging with the limited inventory.  Sellers can expect to get more than they would have last year.    Of course, there is no crystal ball.  My advice, if you find something you love now is the time to make that offer.

For other articles written by Sonja Bush, visit www.sonjabush.com

Sonja Bush is a licensed California real estate broker.  As a Broker Associate with Mammoth Village Properties located at The Village in Mammoth, Sonja works with buyers and sellers in the Eastern Sierra.  Sonja can be reached at [email protected] or www.sonjabush.com.

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Beautiful evening for a walk with friends 🐾 Poppy and Tinker posing in paradise 😊 ...

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Lots of properties on Agent Caravan on Thursday, May 26. What is Agent Caravan?

This is an opportunity for local Realtors® to view the new listings. We do this every Thursday from 9 AM - 11 AM. Contrary to what my friends think....we are not all on a big party bus driving around town LOL!!!

This week is the biggest caravan of the year (12 properties ranging in price from $500k to $2.5M) because inventory has finally started to increase. So.....if you are looking for something to do....stop by one of these properties. Everyone is welcome! If you are working with a Realtor® be sure and tell the person at the Open House.....otherwise we think you could be a new client for us!!

I will be at 354 Joaquin #4 -- stop by and say hello and I will give you a list of the other 11 properties on caravan.
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Tonight kicks off the Mammoth Lakes Film Festival! Come see amazing films and party with the artists till Sunday! Another fun and local event for Mammoth Lakes!

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
#destinationmammoth #destinationrealestate #mammothmountain #monocounty #summerfun
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Don't miss out....

Come by and see this beautiful 3 bedroom home at 33 Kelley Road in Mammoth Lakes on Saturday, May 28. OPEN HOUSE from 2 PM - 5:30 PM.

LINK IN BIO for details.
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Attended the ribbon cutting for Mammoth Lakes new Disc Golf Park. Such a beautiful course built in our local paradise. A lot of work by local individuals, business and town government came together to make this happen. THANK YOU! Check it out next time you are in town! I have never played but I am going to learn! #mammothlakesrecreation #townofmammothlakes #lovewherewelive #paradise ...

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Preparing for summer in Mammoth like...

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"Thank you so much for your guidance and expertise in helping us to buy our dream home.
I am so grateful for your hard work and patience with all our questions at every step of the process. I genuinely trusted that you were looking out for our best interests and had our backs throughout this exciting and stressful process."

-Andrew & Cara

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Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
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Eric Van Winkle making a difference on Town Clean Up Day this past weekend! Way to represent Eric and the Mammoth Lakes Board of Realtors! #mammothlakes #TOML #communityspirit #towncleanupday #loveourcommunity ...

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Today is the first day of Day Pass Reservations for Yosemite National Park! If you're in the area remember to make sure you have a reservation to get into @yosemite this summer!

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OPEN HOUSE
33 Kelley Road

Sunday, May 22
10 AM - 1 PM

Stop by and view this immaculate and beautiful 3 bedroom / 2.5 bath move in ready home. A rare find for such an amazing location and quality construction. The placement of the home on the lot is off-set from neighboring homes providing a true sense of privacy.

LINK IN BIO FOR DETAILS
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