Strong Real Estate Activity, But No Snow In The Forecast!!
Market Summary: September 24 – October 22
At the period’s end the condominium inventory is down 14 to 51. There were 32 new condo listings in the period and 16 are already under contract and in escrow. Some of the new condo listing have some real “fishing” prices. We’ll see if the market supports these new prices. There are now only three (3) condos listed under $339,000 and they are brand new to the market and won’t last long. This time last year there were 129 condos on the market. The past 12 months have brought an impressive change to the Mammoth condo market.
Single Family Inventory
The inventory of single-family homes is down eight (8) to 40. There are now only five (5) homes listed under $600,000. Interesting that they haven’t sold. The sale of two multi-million dollar homes may indicate the high-end may finally pop. This time last year there were 61 homes on the market.
The total number of properties in “pending” (under contract) in Mammoth Lakes is down 13 to 67 at period’s end. Of the 67 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 six (6) to 117.