MARKET TRENDS REPORT August 1, 2022
Single Family Homes
The median sales price for a single-family home YTD is $1,250,000 (up 5% vs. 2021), this figure has declined from last month’s YTD figures when we reported the Year-To-Date Median price was up 18% over last year’s figures. This year-to-date analysis is based on a total of 53 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 the table above:
Median Home Sales Prices by Month for 2021 and 2022 YTD
Below is a summary of active home listings as of the 1st of each respective month
The information contained in this document is for discussion purposes only. It is not guaranteed and should be verified by the reader.
The Year-to-Date (YTD) median price for a condominium in Mammoth Lakes is $800,000, which is 32% higher than the median price observed for all of 2021. This median price was determined through 210 sales YTD. It would appear from the data that the current market pricing is holding firm, but what is not obvious in the details below is that in recent months there have been a considerable number of new, premium quality, condominium sales dominating the upper end of the sales range. These high-end sales had contract dates that were established 1-2 years prior to their recent closing date. This means many recent high-end sales are reflective of the market pricing 1-2 years prior and not reflective of today’s market.
The graph below is a representation of the condominium pricing table on the previous page:
Median Prices for condominiums by month still appear to be increasing steadily. As with the median pricing, recent months include the sale of new, premium condominiums that entered purchase contracts more than a year ago. If we exclude these premium sales that had older contract dates, the median price is $800,000 for the month of July vs. $859,000
Vacant Residential Land Market
Year-To-Date median prices for residential vacant land is lower (-29%) than seen in all of 2021. This median price was determined from 11 land sales YTD, compared to 49 sales in all of 2021. The price per foot for a vacant lot is $36 per foot, up from $24 per foot seen in 2021.
Below is a graph reflecting the table above:
2251 Meridian Blvd. #126 – One Bedroom + Loft with one bath, corner unit it located in the Sunshine Village condominium complex. Close to Vons, restaurants, and local schools. This unit is also located on the free trolley route so you can ride to the slopes in about 5 minutes.
Viewpoint #143 – Remodeled unit located on the bluff of Viewpoint Condominiums. This unit is a one bedroom, one bath condo that has been extensively remodeled and is turnkey for you to move in. A short walk to the Village at Mammoth, ski gondola and free public transportation. Watch a short video for this unit.
153 Lake Mary Rd. #28 (Hidden Valley) – Studio Loft with two bathrooms near the Village at Mammoth and ski gondola. In addition to being a short walking distance to restaurants, shopping and ski access, this condominium is near free public transportation to town and the Lakes Basin.
160 Commerce Drive – FOR LEASE! 2,780 square feet of quality industrial/storage with office space. Property has been completely remodeled and is in near new condition. On top of having a near 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.