Ski Area Sells Again…Will The Third Time Be The Charm??
Market Summary: April 9 – April 23
The Mammoth MLS is reporting 18 real estate closings in Mammoth Lakes for the period ranging from a low of $200,000 to a high of $839,000. Of the 18 closings all 18 were financeable properties
and 13 were conventionally financed. Seven of the 18 sales were condos listed under $400,000. With the 10-Year Treasury down in the 2.2% range the 30-year mortgage rate has dipped below 4.0% again.
At the period’s end the condominium inventory is up four (4) to 97. There were 15 new condos brought to the market during the period. They are all essentially new to the market and throughout the spectrum of size, location, quality, etc.
Single Family Inventory
The inventory of single-family homes is down three (3) to 32. There are two (2) homes listed under $500,000 and one is a REO/auction.com property and one is a junker REO house in the “Ghetto” listed at land value. There are a total of seven homes listed under $725,000.
The total number of properties in “pending” (under contract) in Mammoth Lakes is up one (1) to 68 at period’s end. Of the 68 properties in “pending,” there are 51 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is up seven (7) for the period at 113….So based on these statistics the announcement of the Mammoth Resorts “sale” some 11 days ago has had a neutral effect on the local real estate market. So far. Most are trying to wrap their minds around what is happening.
Market Updates and News
New Favorite Listing For The Period!!
Other Real Estate News
** Closed sales data is compiled from in-house files and public records.