Warm Weather Dominates The Holiday Period, Mammoth Begs For Snow!
Market Summary: December 17 – January 7
At the period’s end the condominium inventory is down three (3) to 52. There were 23 new condo listings in the period and nine (9) are already under contract and in escrow. The new listing prices are up. It is an odd time of year to list a condo in Mammoth; most properties are occupied with owners, guest or renters. This time last year there were 114 condo on the market.
Single Family Inventory
The inventory of single-family homes is down seven (7) to 32 but that includes some expired listings. These homes will likely come back to the market. There are only 14 homes listed under $1M. This time last year there were 47 homes on the Mammoth market.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down 10 to 42 at period’s end. Of the 42 properties in “pending,” there are 32 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is down 20 to 61. The numbers may indicate the local real estate market is somewhat exhausted. It doesn’t feel like it. Now that the holidays are over and there is new snow in the two week forecast, I expect the steady activity to roll right into 2018. For those who missed it, this column ran in the Christmas issue of The Sheet. Mammoth condo values moved significantly upward in 2017.
Market Updates and News
Favorite New Listing For The Period!!
In my opinion it operates better today than it ever has. The units are still smallcompared to the condo hotel units in the Village but many owners at JSL have done some creative remodeling to make them more functional.
Other Real Estate News
Thanks for reading!
** Closed sales data is compiled from in-house files and public records.