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It is SNOWING in Mammoth Lakes!

Took this video from my office at Mammoth Village Properties today — January 11, 2014

https://www.youtube.com/watch?v=q8jmi2dGJWM&feature=youtu.be

 

Mammoth Lakes Real Estate Market Update

housing marketThere 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 transactions  in Mammoth Lakes and preliminary year-end 2013 results.

Condos  

2013 (as of Dec. 29)

2012

2011

Median   Price

$263,000

$244,000

$242,000

Median   Days on Market

105

123

98

Total Condos SOLD

343

299

309

Single   Family Homes

2013 (as of Dec. 29)

2012

2011

Median   Price

$575,000

$575,000

$560,000

Median   Days on Market

103

181

120

Total SF Homes SOLD

90

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

$359,900

$769,000

Median   Days on Market

101

127

Total   Available as of Dec. 29

105

Relatively flat all of 2013

49

Relatively flat all of 2013

 

In summary for the condo market, there was a significant increase in the number sold (~14% ) and condos sold more quickly (~17%)and at a higher price than the previous two years (~7%).

In summary for the single-family home market, while the number sold and the median price remained relatively flat, the days on market reduced significantly.

If you are interested in buying or selling, a qualified Realtorâ can provide the relevant data for your specific neighborhood or area of interest.

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