Mammoth Lakes Real Estate Market Update – September 2019

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 8/31/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $455,000 $402,500 $349,900 $299,750 $305,000 $292,500 $265,000 $244,000
Median* Days on Market 79 69 70 117 113 89 105 123
Total Condos SOLD 241 348 407 304 271 259 345 299

 

Through August 2019, condo prices are up approximately 13% over year-end 2018. The trend indicates roughly 4% more condos will sell in 2019, and those that do sell are taking 14% longer to sell than in 2018.

 

 

Single-Family Homes

 

Through 8/31/19 2018 2017 2016 2015 2014 2013 2012
Median* Sold Price $774,000 $890,000 $750,000 $682,500 $694,400 $619,000 $580,000 $575,000
Median* Days on Market 97 113 131 132 165 145 103 181
Total SF Homes Sold 63 87 95 98 91 85 90 91

 

Through August 2019, single family home prices are down approximately 15% from year-end 2018. The trend for 2019 indicates roughly 8% more single family homes will sell in 2019 as in 2018. Those that do sell are selling approximately 16% faster than in 2018.

 

The current inventory provides an indication of potential activity. Below is a snapshot of current listings:

 

Currently Listed Condos Single-Family Homes
Median Price* $424,900

DOWN from $429,000 in August

$1,050,000

NO CHANGE from August

Median Days on Market* 65

UP from 44 in August

63

UP from 45 in August

Total Available September 1** 129

UP from 128 in August

69

UP from 65 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 PDF report. 

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