Mammoth Lakes Market Report December 1, 2020
Single Family Homes:
The single-family home market in Mammoth Lakes has produced 114 sales year-to-date (YTD). Median YTD home prices are $880,000, which is up 11% in comparison to 2019’s median price ($793,000) for the entire year. Just four months ago, the YTD median price for 2020 was up only .5% for the year; suggesting nearly a 11% increase in just four months. While 2020 median home prices are near record highs, they still have not surpassed 2007 figures when the median price for a home was $900,000. As of December 10, there were “ZERO” single-family homes for sale in Mammoth under $1,100,000.
As of December 1, 2020, the YTD median price for a condominium in Mammoth Lakes was $479,500, which is 6.5% higher than the median price observed for all of 2019. This median price was determined using 392 sales YTD. Sales volumes for condominiums are on pace to break a 10-year high. As of 12/10/2020, there were only “TWO” condominiums in Mammoth Lakes available for purchase under $1,000,000.
The most notable market change in 2020 YTD is sales activity. March and April showed a sharp drop in the number of sales, while late June and July began to demonstrate a recovery in sales volume. August trends tapered off somewhat while September set record highs, surpassing the average for the past 10 years by 121%. In October we saw sale volumes for single family homes pulling back to some sense of “normal”, suggesting September may have reflected pent up demand from the Spring months. Sales in November were 26% above the 10-year average.
There were 37 condominium sales during the month of November. Condominium sales continue to pull back and are nearly in line with the average for the prior 10-years.
141 Silver Tip Lane – This beautiful home in Majestic Pines has 4 bedrooms, 3.5 bathrooms and 3,694 square feet of living area. A great home for larger families or those that just like to entertain. Located in a quiet setting, surrounded by large pine trees. Take our 3D virtual tour!
106 Ridge Way – New Listing located in the desirable Snowcreek Crest neighborhood. This home features 5 bedrooms, 5 bathrooms and a great Ski Room for the avid skier/snowboarder family. This home has 5,583 square feet of living area, a two-car garage, and a recreation room. Because the home is south facing, it receives ample sunlight and has great views of the Sherwin Mountains. Take our 3D Virtual Tour!