Mammoth Lakes 2016 Q1 Real Estate Market Review

4.6.2016

Dear Clients & Friends,

The first quarter of 2016 brings mixed results for the Mammoth Lakes real estate market.  We have seen a 15.3% increase in Single Family Home median sales prices during the first quarter over median prices of 2015. (See graph below.) The trend toward purchasing larger homes continues in the area. New home sales are also up with a new wave of building in the area.

On the contrary, we have experienced a 7.4% decrease in median condo sales prices throughout the town.The demand for inexpensive condos is up, as the number of condos sold in Q1 is the highest since 2012. This year there were 76 condo sales in Q1, over 66 in 2015 and 54 in 2014. Rental income is still a priority for most condo purchases and this season delivered the best income in over 4 years due to excellent snow conditions throughout the season.

We are expecting a wave of condos to enter the market over the next 2 months as this time of year signals the end of the winter season and the time when most condo owners will list as rental income decreases.  If you are in the market for a condo, it is a great time to consider a purchase as there will be much to choose from.

Looking for a single family residence in the area but not ready to pay the price? These townhomes offer garages, laundry, views and low HOA dues.

Here are some of the best new townhome listings on the market this week: (Clicking on these links will not result in SPAM)

1.) Rarely on the market with huge meadow views!  The Pointe, priced to sell!: http://mls.propertiesofmammoth.com/property-search/detail/1/108544/

2.) Newer Townhome near the Village with low HOA dues and great price: http://mls.propertiesofmammoth.com/property-search/detail/1/108540/

3.) Newer Townhome with Mammoth Mtn. views and very low HOA dues:http://mls.propertiesofmammoth.com/property-search/detail/1/108542/

If you plan to be in the area and would like to discuss the real estate market, please give me a call at (760) 914-3848 or email me at ltracyrealtor@gmail.com.