- The Lodges at Snowcreek
Mammoth Lakes Real Estate Market is interesting to follow. The most common question we get at Matthew Lehman Real Estate is “what is the market doing”?; referring to whether or not the market is trending up, down, sideways, or otherwise. While there may be a very broad answer to this question the final answer is often a bit more in depth, after all the Mammoth Lakes Real Estate Market is made up of many pieces.
Between now and the end of 2013 I’m going to be completing a quarterly report on the Mammoth Lakes Real Estate Market. The beauty of this next report is that it will encompass trends and activity for all of 2013, instead of just a single quarter, and it will breakdown the market into its interesting and applicable sectors. Unlike national data services, this report will use all the factual data from Mammoth Lake’s specific area and offer untainted views of our market.
In early research, the condominium market is proving some interesting statistics. I’m finding Condominiums Trending Upward in 2013 with the overall median (mid-point) price of condominiums to be up 6.75% in 2013. Looking at specific bedroom configurations, it is clear to see that some bedroom types have performed much differently than others with some having increased as much as 40.68% and other declining as much as 11%.
Mammoth Lakes Real Estate Condominium Trends
| Price | Price | |||
|
2013 |
2012 |
% Change |
||
| Studios | ||||
| Average Price |
$166,000 |
$128,785 |
28.90% |
|
| Median Price (Mid-point) |
$189,000 |
$149,000 |
26.85% |
|
| Studio + Lofts | ||||
| Average Price |
$119,004 |
$119,142 |
-0.12% |
|
| Median Price (Mid-point) |
$166,000 |
$122,000 |
36.07% |
|
| 1 Bedroom Units | ||||
| Average Price |
$169,822 |
$164,145 |
3.46% |
|
| Median Price (Mid-point) |
$159,900 |
$180,000 |
-11.17% |
|
| 1 Bedroom + Loft | ||||
| Average Price |
$201,436 |
$188,254 |
7.00% |
|
| Median Price (Mid-point) |
$192,500 |
$173,000 |
11.27% |
|
| 2 Bedroom | ||||
| Average Price |
$307,659 |
$300,062 |
2.53% |
|
| Median Price (Mid-point) |
$312,500 |
$281,250 |
11.11% |
|
| 2 Bedroom + Loft | ||||
| Average Price |
$308,952 |
$344,521 |
-10.32% |
|
| Median Price (Mid-point) |
$299,000 |
$334,000 |
-10.48% |
|
| 3 Bedroom | ||||
| Average Price |
$490,516 |
$479,369 |
2.33% |
|
| Median Price (Mid-point) |
$464,750 |
$497,000 |
-6.49% |
|
| 3 Bedroom+ Loft | ||||
| Average Price |
$590,732 |
$532,777 |
10.88% |
|
| Median Price (Mid-point) |
$513,500 |
$365,000 |
40.68% |
|
| 4 Bedroom | ||||
| Average Price |
$538,167 |
$572,785 |
-6.04% |
|
| Median Price (Mid-point) |
$650,000 |
$409,000 |
58.92% |
|
I’m interested to know your thoughts so please share them with me.
If you would like a free detailed report on the Mammoth Lakes real estate market, click on the following link. https://trademarkmammoth.com/sell/local-market-reports . This report will include single family homes, land and other sectors of the market. I expect the final 2013 Year-End report to be complete by January 1, 2014.
If you are interested in the 2013 Mid-Year report, it is available now at https://trademarkmammoth.com/wp-content/uploads/2013/11/Residential-Market-Trend-Analysis-2013-Mid-Year.pdf it will give you a good background on the Mammoth Lakes Real Estate Market.
Condo Stats as of the date of this post:
Low Price: $84,000
High Price: $940,000
Median Price: 260,000
Median Days on the Market: 97; Average Days on the Market: 148
