As April arrives, we look forward to the warmth and hopefully a productive and successful summer in Mammoth.
Single Family Homes: Year-To-Date Single family home prices are up just slightly in comparison to 2021 and we must keep in mind that these Year-To-Date figures and based on only three months of data and a total of 27 home sales. Figures in January were proving larger declines, with some recovery in February and more recovery in March. The Median price of $1,225,000 is up (2.94%) vs. the median price for all of 2021. The average home price is up notably with an average home price of $1,576,203 in comparison to 2021’s average home price of $1,480,755.
Condominiums: Median condominium prices remain persistent and are $775,000 which is up 28% versus 2021. This is a huge jump in a short period of time, but we have seen about a 2% retraction from last month.
Single Family Homes
The median sales price for a single-family YTD is $1,225,000 (up 3% vs. 2021), this figure has stabilized from the previous month’s YTD analysis. This year-to-date analysis is based on a total of 27 sales. In 2021 the single-family home market in Mammoth Lakes produced a total of 123 sales and a median price of $1,190,000.
Single-Family Residential History Mammoth Lakes
The graph below is a representation of the median single-family home pricing taken from table above:
The information contained in this document is for discussion purposes only. It is not guaranteed and should be verified by the reader.
While the median price for all of 2021 was notable, many of our clients wanted to see how the changes in price have taken place over the course of the year YTD. Median home prices were up in the early part of 2021 and gradually declined over the course of the year. Currently, we are seeing a flattening in the early part of 2022. Coming months and more data will reveal more of what 2022 has to offer. Inventory is still relatively low with there being only 12 single family homes on the market as of April 1, 2022.
Condominium Market
The Year-to-Date (YTD) median price for a condominium in Mammoth Lakes is $775,500, which is 28% higher than the median price observed for all of 2021. This median price was determined through 93 sales YTD. This month’s YTD prices are greater than last month’s YTD median price. As of April 1, 2022, there were 33 condominiums available for purchase in Mammoth Lakes; notably higher than observed in recent months.
The graph below is a representation of the condominium pricing table on the previous page:
As with single family homes, we have also produced a median market pricing for condominiums on a month-by-month basis. Condominium pricing behaved quite differently than single family homes in that condos have increased more consistently over the same period.
The information contained in this document is for discussion purposes only. It is not guaranteed and should be verified by the reader.
Vacant Residential Land Market
Year-To-Date median prices for residential vacant land are lower (-7%) than seen in all of 2021. This median price was determined through 7 land sales YTD, compared to 49 sales in 2021. The price per foot for a vacant lot increased to $40 per foot, up from $24 per foot seen in 2021.
Featured Listings
Laurel Mountain Business Center – This two-story office and retail building is in the center of Mammoth off Laurel Mountain Road. This commercial building has only one vacancy, left vacant intentionally for the new owner. Ample open parking, clean common areas, kitchen, and common area bathrooms.
Mammoth Crossing –Two premium development sites located on the corners of Main Street and Minaret Road in the Village at Mammoth. These two sites are ideal for hotel or Hotel/Condo development as they are just steps from the Village events plaza and ski gondola. Call Matthew or Ashley for details.
160 Commerce Drive – FOR LEASE! 5,400 square feet of quality industrial/office space. The property has been completely remodeled and is in near new condition. On top of having a nearly new building, the property sits on .5 acres of land, ample for vehicle parking and storage. Watch this video or Take a Virtual Tour of this Incredible property now.
Watch our “Why Mammoth?” Video and see what Mammoth Lakes has to offer you.
