Mammoth Lakes Real Estate Market Update – October 2020

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 9/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $480,000 $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 272 387 348 407 304 271 269

After the slow-down in March through May, the data is now reflecting the increase in activity over the last four months. Through September 2020, the median condo price is up nearly 7% over 2019. If we annualize YTD 2020 condos sold, we are on track to sell 7% fewer condos than in 2019. Condos are selling 20% faster than in 2019 (down 14 days).

Single Family Homes

Through 9/30/20 2019 2018 2017 2016 2015 2014
Median* Sold Price $815,000 $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 85 94 87 95 98 91 85

Through September 2020, the median price of single family homes sold is up 6% over 2019. Annualizing YTD 2020 single family homes sold, we are on track to sell 20% more in 2020 as compared to 2019. Single family homes are also selling 22% 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* $417,500

DOWN from $445,000 in September

$1,198,000

DOWN from $1,295,000 in September

Median Days on Market* 45

UP from 39 in September

39

DOWN from 60 in September

Total Available March 1** 42

DOWN from 65 in September

33

SAME as September

*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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