Home Prices in Mammoth Lakes as of March 1, 2020
Below is some general information on real estate trends in the Mammoth Lakes area for the past 10 years through March 2020. We hope you enjoy it and please let us know if there is any additional information we can provide you.
Single Family Homes
The single-family home market in Mammoth Lakes has proven 16 home sales as of March 1, 2020 and the most recent sales are revealing more stabilized figures when compared Year to Date (YTD) figures seen just last month. Median home prices are $807,000 YTD, which is 1.8% above 2019’s median price. Attractive interest rates are an ongoing catalyst in the current market. While not directly related, there is rumor the Federal Reserve will very likely announce further rate drops soon.
Condominium Market
As of March 2020, the median price for a condominium in Mammoth Lakes was $439,000, or down -2.55% compared to 2019’s median price. This median price was determined using 51 sales year to date. Part of the rational for the median price variance between 2019 and 2020 YTD is strong sales from the Mountainside and Snowcreek projects.
Residential Land
The median price for a residential parcel of land shows an 11% decline vs. 2019. The price per square foot of land however is up 4% vs 2019. There have been 5 residential sales year to date.
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