Market Trends Mammoth Lakes: June 1st, 2018
Hey folks, here is your market trends report for June 2018.
In keeping with the trends of the past year or so, median prices continue to show strong increases. Interest rates have remained relatively stable and the attractiveness of AirBnB and VRBO continue to drive investors to Mammoth Lakes.
The Single Family Home Market
As of June 1st, 2018, the year-to-date median single-family home pricing are reflecting gains of 9.7% compared to 2017, this is a slight pull back from the 12.5% Year-to-Date gains observed last month. The median price for a single-family home in Mammoth Lakes, as of June 1st. 2018, is $850,000; this is based off a total of 25 sales.
The Condominium Market
In 2018 thus far, the condominium market is trending in line with the 27% increases seen in 2017. As of June 1st, 2018, Median prices for a condominium in Mammoth Lakes were $390,000. This is based on a total of 141 sales. This median sales price is 11.46% above the median price observed for all of 2017.
The market trends for 2018 have been relatively consistent year-to-date, with some slight declines between May and June figures. As Mammoth Lakes heads into the summer season, activity is expected to pick up as summer is the most active time of year for real estate in Mammoth Lakes. For a Downloadable version of this report CLICK HERE.
Call Matthew Lehman for more information on Market Trends or other real estate related needs in Mammoth Lakes.