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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 sunset tonight.

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Sonja was very knowledgeable and competent in selling our house in Mammoth. She is very personable and answered all of our numerous questions with courtesy, humor, and patience. Despite a greatly slowed real estate market, she sold our house in a reasonable time frame. - Stuart F.

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#nofilter Sunday evening neighborhood stroll. ❤️reflections, water, blue skies and fluffy clouds ☁️ #lovewherewelive ...

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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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You know, I hear there are a lot of trees in Mammoth Lakes... hmmmm...

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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