March Does Not Disappoint!! Spring Breakers Get Great Conditions.
Market Summary: March 18 – April 1
At the period’s end the condominium inventory is down seven (7) to 51 but three of those are Creekhouse units that are under construction and far from completion. So there are essentially 48 resale condos currently on the market. It has been a long time since the inventory was that low. And we are just starting our spring selling period. The least expensive condo is listed at $230,000. There are now 14 condos listed under $300,000 and but only another 11 listed between $3–400,000. There are a handful of worthy properties available under $300,000. But that doesn’t buy much size anymore. There were 16 new condo listings in the period and seven (7) are already under contract and in escrow.
Single Family Inventory
The inventory of single-family homes is up seven (7) to 35. The least expensive home on the market is at $609,000. There are new listings in the under-$950,000 market and a few more in the ~$1,200,000 range that are worth looking at. A beautifully remodeled A-frame came to the market and sold immediately with a back-up offer in place. These old A-frame properties are seeing a resurgence in popularity. In the early 2000s they were considered tear-downs.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down one (1) at 58 at period’s end. Of the 58 properties in “pending,” there are 41 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is up three (3) to 84.
Market Updates and News
Favorite New Listing For The Period!!
Other Real Estate News
** Closed sales data is compiled from in-house files and public records.