Another Dump But More Snow Needed Before The Holidays, Real Estate Slows A Bit…
Market Summary: November 19 – December 3
At the period’s end the condominium inventory is down 12 to 52 with only three (3) units listed under $329,000 and only 17 listed under $400,000. There were seven (7) new condo listings in the period and three (3) are already under contract and in escrow. Some of the decline in inventory was the cancellation of listings. These included units that are booked heavily in the next 45 days. With the prime rental season directly in front of us, most potential sellers will now wait until next year.
Single Family Inventory
The inventory of single-family homes is up one (1) to 35. With a recent price reduction on one home, there are now four (4) homes listed under $729,000. There are two homes that have been on the market for over 600 days.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down one (7) to 57 at period’s end. Of the 57 properties in “pending,” there are 44 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is down 13 to 96. A December real estate slow-down is typical, but many hungry buyers will still be looking.
Market Updates and News
Favorite New Listing For The Period!