MAMMOTH LAKES
MARKET TRENDS REPORT
Year End 2024
www.MatthewLehmanRealEstate.com
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Single-Family Homes Market Overview
The median price for single-family homes in Mammoth Lakes remained relatively stable in 2024 compared to 2023. The median price in 2024 was $1,305,000, based on 57 home sales.
Single-Family Residential History Mammoth Lakes
Here’s a summary of median prices, average prices, and sales over the years:
The graph below is a representation of the median single-family home pricing reflecting the table above:
Median Home Pricing Trends
The graph below reflects monthly changes in median home prices for 2023 and 2024. Prices varied throughout the year, with December seeing a range from $600,000 to $3,250,000 across three sales.
Below is a summary of available (active) home listings at the beginning of each respective month:
Inventory Levels
At the end of December 2024, there were 19 active listings, down from 24 active listings in November.
Price Per Square Foot
The price per square foot provides a different perspective on market trends. Below is a summary of the median price per square foot for single-family homes from 2012 to 2024:
The median price per square foot increased steadily from 2012 to 2022 but declined slightly in 2023 and 2024. As of December 31, 2024, the price per square foot increased by $8 compared to the previous month.
Condominium Market Overview
The median price for a condominium in Mammoth Lakes in 2023 was $754,500. As of December 31, 2024, the median price decreased by 3.91% to $725,000 based on 243 sales.
Condominium Market History
Here’s a summary of the condominium market trends over the years:
The graph below is a representation of the median condominium pricing table above:
The median price of condominiums followed a seasonal pattern, peaking in September 2024. Pending sales of “The Reserve” are expected to drive January 2025 median prices higher, with around 12 units expected to close at a median price of $2,195,000.
Inventory Levels
Active condominium listings peaked in September 2024 with 98 properties. As of December 31, 2024, there were 55 active listings, a 13% decrease from the previous month.
Price Per Square Foot for Condominiums
Here’s a summary of the median price per square foot for condominiums:
Below is a representation of the table above:
Vacant Residential Land Market
In 2023, 23 residential land sales occurred in Mammoth, with a median price per square foot of $38. In 2024,18 sales took place, with the median price per square foot rising slightly to $39.
Land Sales History
Here’s a summary of land sales trends:
Below is a graph reflecting the table above:
Featured Listings
Beautifully remodeled turnkey condo in downtown area with one bedroom and a loft, with two bathrooms. The kitchen has granite slab counters, newer floors and cabinets. Freestanding pellet stove in living room, state of the art kitchen with a great entertaining feel. Listed at $540,000
3221 Main Street (Former Slocums)!
Restaurant demand in Mammoth is high with the loss of so many restaurants to new development, and this demand is only going to increase with so many new developments taking place throughout town. This property is nearly 5,000 square feet of restaurant space, .5 acres of land, 35 onsite parking spaces. Listed at $1,250,000. THE LISTING PRICE OF THIS PROPERTY INCLUSED A TYPE 47 LIQUOR LICENSE.
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