Storm Door Trying To Open, Town To Buy Shady Rest Parcel.
Market Summary: October 22 – November 5
At the period’s end the condominium inventory is up nine (9) to 60. That includes three new “under construction” units at Creekhouse (Snowcreek Phase 7). There were 28 new condo listings in the period and eight (8) are already under contract and in escrow. Some of the new condo listings appear to be priced within reason. Others appear to be next year’s pricing, or the year after. But that is assuming the recent appreciation continues.
Single Family Inventory
The inventory of single-family homes is down two (2) to 38. The five (5) homes listed under $600,000 simply aren’t moving. The pressure on the low end of the condo market is not translating to the low end of the single-family market. For now.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down another 12 to 55 at period’s end. Of the 55 properties in “pending,” there are 38 in “Active Under Contract” status (formerly “back-up”). The total number of pendings in the aggregate Mammoth MLS (which includes outlying areas) is down six (6) to 111.