Real Estate Market Today in Mammoth Lakes CA

Where is Mammoth Lakes

Where is Mammoth Lakes

What’s happening in Mammoth Lakes real estate?

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 in Mammoth Lakes.

Condos  

2013 (as of 2/26)

2012

2011

Median   Price

$269,000

$244,000

$242,000

Median   Days on Market

132

123

98

Total Condos SOLD

36

299

309

Single   Family Homes

2013 (as of 2/26)

2012

2011

Median   Price

$570,000

$575,000

$560,000

Median   Days on Market

143

181

120

Total SF Homes SOLD

11

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

$374,000

$1,106,000

Median   Days on Market

112

223

Total   Available Today

129

48

In summary, the median days on the market is rising while inventory is declining.  Despite these trends, the median price appears to be increasing.  In speaking with real estate professionals in southern California this was a similar situation for them a few months ago but now they are seeing significantly increased prices.   Although there is no crystal ball telling us the future, history tells us Mammoth Lakes real estate generally follows southern California trends by six months.

What does this mean to you?  Buyers can get a good price on a property today if they find something they like in the limited inventory.   Sellers can expect to get more than they would have last year if but need to be patient since it may take time to sell.

For previous articles, visit http://www.SonjaBush.com

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Pricing My Home to Sell

Price-StrategyPricing your home for sale should be based on comparable sales, specific neighborhood time-on-the-market trends, current appraisals and the homes pros and cons.  Sellers who price the property correctly from day one experience fewer days on the market and more “real” potential buyers.  No amount of marketing “magic” can overcome an over-priced price tag.  Experts suggest reducing your price if you have no serious offers in the first 30-45 days.

The most challenging part of pricing your home is to make sure you are using your head and not just your emotions.  Sellers that ignore the facts and price their property purely on “feelings” are generally disappointed or even insulted when they receive lower than asking price offers.  Inflated prices send a signal to potential buyers (and their agents) that you may not be serious about selling and therefore won’t waste their time viewing your property.

Pricing your property is part art and part science and qualified real estate agent can help you make an informed decision when pricing your property.  Licensed agents have access to recent sales, pending sales,  withdrawn listings, price per square foot and much more.

For previous articles, visit http://www.SonjaBush.com