Mammoth Lakes Real Estate Update – March 1, 2016
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 five years transactions closed and current inventory.
| Condos | YTD 2016 Thru Feb 29 |
2015 |
2014 |
2013 |
2012 |
2011 |
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| Median* Sold Price |
$313,000 |
$306,250 |
$292,500 |
$265,000 |
$244,000 |
$242,000 |
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| Median* Days on Market | 126 | 113 | 89 | 105 | 123 | 98 | ||||||
| Total Condos SOLD | 45 | 270 | 259 | 345 | 299 | 309 | ||||||
| There is insufficient data to evaluate YTD 2016 trends.
Summary for condo category for 2015 as compared to 2014: Median Sold Price: ↑Up 5% over 2014 Median Days on Market: ↑Up 26% over 2014 Total Condos Sold: ↑Up 4% over 2014 |
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|
Single Family Homes |
YTD 2016 Thru Feb 29 |
2015 |
2014 |
2013 |
2012 |
2011 |
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|
Median* Sold Price |
$590,000 |
$687,200 |
$615,000 |
$575,000 |
$575,000 |
$560,000 |
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| Median* Days on Market | 269 | 166 | 145 | 103 | 181 | 120 | ||||||
| Total SF Homes SOLD | 9 | 90 | 85 | 91 | 91 | 75 | ||||||
|
|
There is insufficient data to evaluate YTD 2016 trends.
Summary for single family home category for 2015 as compared to 2014: Median Sold Price: ↑Up 12% over 2014 Median Days on Market: ↑Up 14% over 2014 Total SFH Sold: ↑Up 6% over 2014 |
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The current inventory provides an indication of potential activity. Below is a snapshot of current listings:
| CURRENTLY LISTED | Condos | Single Family Homes |
| Median* Price |
$379,250 ↓Down from $391,950 Jan. |
$995,000 ↓Down from $999,999 in Jan. |
| Median* Days on Market | 74
↓Down from 84 in Jan. |
118
↓Down from 163 in Jan. |
| Total Available as of Jan 31 | 156
↓Down from 166 in Jan. |
67
↑Up from 59 in Jan. |
If you are interested in buying or selling, a qualified Realtorâ can provide the relevant data for your specific neighborhood or area of interest.
*Median Price = Is the middle value for a range of values. This 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.
