Ski Crowds Thin Out While Weather Fluctuates Between Winter And Spring
Market Summary: April 1 – April 15
At the period’s end the condominium inventory is up three (3) to 54 including those three Creekhouse units that are under construction and far from completion. There are now 29 condos listed under $400,000 which seems to be the new threshold for “cheap.” There are only another 13 condos listed between $400K and $600K. So we’ve experienced a small increase in the low-end condo inventory. But the overall inventory remains low. There were 16 new condo listings in the period and seven (7) are already under contract and in escrow. Exactly the same as last newsletter two weeks ago.
Single Family Inventory
The inventory of single-family homes is even at 35. A back-to-the-market low-end home is sitting at the least expensive home in Mammoth at $529,000. Two of the long lingering low-end homes closed escrow during the period at $470,000 and $520,000. But most of the <$1M inventory is currently sitting.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down five (5) at 53 at period’s end. Of the 53 properties in “pending,” there are 37 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is down 11 to 73. These numbers should be up at this time of year (the spring selling season). Perhaps the busy 1st quarter was demand brought forward. The next 45 days will be telling. And the next few months are historically when the bulk of the new inventory comes to the market.
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.