Mammoth Lakes Market Trends Report June 1, 2022 www.MatthewLehmanRealEstate.com
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Single Family Homes
The median sales price for a single-family home YTD is $1,410,000 (up 18% vs. 2021), this figure has jumped declined slightly from last month’s YTD figures. This year-to-date analysis is based on a total of 40 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:
Median home prices were up in the early part of 2021 and gradually declined over the course of the year. In 2022 we are seeing sharp increase during the first quarter of 2022 and May shows a slight decline. Coming months and additional data will reveal more of what 2022 has to offer. Inventory has increase in the past month with the single-family home inventory increasing from 12 homes on April 1, to 22 homes as of May 1. As of June 1, 2022, there were 21 single family homes on the market in Mammoth Lakes. Condominium Market The Year-to-Date (YTD) median price for a condominium in Mammoth Lakes is $800,265, which is 32% higher than the median price observed for all of 2021. This median price was determined through 162 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 and 33 as of May 1, 2022. As of June 1, 2022, there were 59 units available for purchase.
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. The Condo market did spike in January of 2022 and has remained somewhat level since.
Vacant Residential Land Market
Year-To-Date median prices for residential vacant land is lower (-6%) than seen in all of 2021. This median price was determined from nine land sales YTD, compared to 49 sales in all of 2021. The price per foot for a vacant lot is $40 per foot, up from $24 per foot seen in 2021.
Below is a graph reflecting the table above:
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Watch our “Why Mammoth?” Video and see what Mammoth Lakes has to offer you.