Spring Break, Great Spring Skiing, And Winter Returns With Weekend Dump!!
Market Summary: March 26 – April 9
The Mammoth MLS is reporting 25 real estate closings in Mammoth Lakes for the period ranging from a low of $104,680 to a high of $1,750,000. Of the 25 closings 20 were financeable properties and 15 were financed including another two owner financed transactions. Twelve of the 25 sales were condos listed under $325,000. There were six (6) Snowcreek properties sold, three (3) at Mammoth Ski & Racquet, and two (2) vacant lots. The low sale for the period is a “deed restricted” condo; only verified Mammoth residents with “low” income are allowed to purchase (the listing produced many calls from crashpad seekers). This period last year there were 22 closings.
At the period’s end the condominium inventory is even at 93. There were 16 new condos brought to the market during the period. I researched these new listings looking for some pattern but found a broad mix of long-time owners, owners who purchased in the “heyday” of the mid-2000’s (and who are still “upside-down”), and some that had purchased in the last few years. This time last year there were 163 condos on the market. Two years ago; 162.
Single Family Inventory
The inventory of single-family homes is down two (2) to 35. There are no homes listed under $500,000 and only two (2) homes listed under $600,000 and only seven (7) listed under $700,000. The most expensive home listed is at $4,500,000. This time last year there were 50 homes on the market, two years ago 60.
The total number of properties in “pending” (under contract) in Mammoth Lakes is up four (4) to 67 at period’s end. Of the 67 properties in “pending,” there are 52 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is up 11 for the period at 106. This time last year the numbers were 55 and 90 respectively. Two years ago 46 and 68 respectively.
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.