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MAMMOTH LAKES

MARKET TRENDS REPORT

October 1, 2024

www.MatthewLehmanRealEstate.com

For more information email: [email protected] or [email protected] Or Call us a 760-934-1110

Single Family Homes  

Year-To-Date median prices for single family homes during the month of September were unchanged. The Year-To-Date median price of a single-family home was $1,325,000 keeping the YTD median price of a home 2.04% higher than seen in 2023. This is based on 42 fee simple home sales in Mammoth Lakes.

Single-Family Residential History Mammoth Lakes

The graph below is a representation of the median single-family home pricing reflecting the table above:

Median Home Sales Prices by Month for 2023 and 2024

As can be seen from the graph below, the median price of single-family homes varies month-to-month. This is largely due to the limited number of sales in any given month, but this information is still helpful in seeing how the market behaves in any given month of the year. There were five sales during the month of September with the lowest home sale at $655,000 and the highest at $1,775,000.

Below is a summary of available (active) home listings at the beginning of each respective month:

As seen in the graph on the previous page, the number of active home listings (inventory) was the same as of October 1, 2024, as it was September 1, 2024, and comparable to October 2023.

Prices per foot help us to understand the markets from a different perspective. Below is a table and graph showing single family home sales on a price per square foot basis. Year-To-Date 2024 information is based on 42 sales in Mammoth.

The median price per square foot for single family homes in Mammoth Lakes increased steadily from 2012 through 2022 but has seen declines in 2023 and 2024. The YTD price per foot for October 1, 2024, was about $6.00 lower than seen in the month prior.

Condominium Market

The median price for a condominium in Mammoth Lakes in 2023 was $754,500. As of October 1, 2024, the YTD median price of a condominium was $739,000, (-2% in comparison to 2023). This is based on 173 sales this year. Median prices remained the same from September 1 to October 1, 2024.

The graph below is a representation of the median condominium pricing table above:

The median sale price for condominiums, by month, allows us to observe buyer and seller attitudes throughout the year. The median price of a condominium peaked in the month of October 2023, attributed largely to several new higher-end condominium sales in the Creekhouse project.

The total number of active listings for the past year peaked in September with 98 active listings. As of October 1, 2024 the total number of condominiums for sale in Mammoth was 75, a 23% decline from the month prior.

Below is a table and graph showing the median price per foot for condominiums in 2023 and year-to-date 2024.

Below is a representation of the table above:

Vacant Residential Land Market

In 2023, there were 23 residential land sales in Mammoth and the median price per square foot for a lot in Mammoth was $38. Year-to-date the median price per foot is $42 and this is based on 15 sales YTD. The Median price per foot has increased to $42 from $39 just in the past month.

Below is a graph reflecting the table above:

 

Featured Listings

 

26 Sugar Pine Drive

With four bedrooms, a loft and over 3000 square feet of living space you will find this home is ideal for families, incredibly cozy and perfectly set up for entertaining. Enjoy the remodeled designer kitchen just off the dining space. The outdoor living area includes a jacuzzi, exterior speakers, and three gas hookups for the grill, fire pit.

 

301 Twin Lakes Lane

301 Twin Lakes Lane

Location, location, location. The highly desired Graywolf subdivision with only ten custom home sites (in the project), located two blocks from Canyon lodge, three blocks from the Village. Enjoy this large sunny south facing corner with views of the Sherwin Mountains, 4-bedroom, 3.5-bath custom home. Numerous upscale amenities including a new metal roof in 2023, new solid maple hardwood flooring throughout in 2024. Call Julie 760-914-4522

 

700 Fairway Circle

Here is a great opportunity to own a beautifully remodeled four-bedroom, three and a half bath townhome in the highly desirable “Snowcreek V” condominium complex. This Pyramid floor plan has a unique ground floor kitchen, living room, and laundry area, making it ideal for entertaining while maintaining privacy on the upper level. This condo fronts on the Snowcreek Golf Course.

 

501 Old Mammoth Road

Commercial Lease. Highly visible commercial/Retail use with 2,383 square feet of usable area. Private Bathroom, back of house office and storage area. One bathroom is shared with the neighboring tenant. Rent and NNN costs are $2.31 per square foot, or $5,525 per month.

 

 

Snowcreek V Condominiums (This Month’s Featured Complex)

Closed Sale over the Past 12 months in Snowcreek V (Please Click on this link for details)

Active and pending listings in Snowcreek V as of August 27th, 2024 (Please Click on this link to see details)

 

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