Market Report 2021: December 2021
Real Estate Prices 2021 – Mammoth Lakes
Single Family Homes
The median sales price for a single-family home, Year-to-Date (YTD) in 2021, is $1,207,000 (up 36% vs. 2020), this YTD figure has dropped 5% since last month’s YTD analysis. In 2020 the single-family home market in Mammoth Lakes produced a total of 126 sales and a median price of $885,000. The YTD median price is based on 112 sales.
The graph below is a representation of the median single-family home pricing taken from table above:
While the Year-to-Date increase is substantial, many of our clients wanted to see how the increases have taken place over the course of 2021. Median home prices were up in the early part of 2021 and have gradually declined since. Recent declines could be attributed to seasonality as well as general market changes and lack of inventory.
Condominium Market
The Year-to-Date (YTD) median price for a condominium in Mammoth Lakes is $600,000, which is 33% higher than the median price observed for all of 2020. This median price was determined through 428 sales YTD. This month’s YTD prices are $5,000 more than last month’s YTD median price. As of December 1, 2021 there was only 10 condominiums available for purchase in Mammoth Lakes.
The graph below is a representation of the condominium pricing table on the previous page:
As with single family homes, we have also produced a median market pricing for condominiums on a month-by-month basis. Condominiums have seen a steady increase through most of 2021, with the sharpest increases in the first quarter of the year.
Vacant Residential Land Market
The Year-to-Date (YTD) median price for a residential lot in Mammoth Lakes is $350,000, which is 11% higher than the median price observed for all of 2020. This median price was determined through 45 sales YTD, compared to 30 sales in 2020. This month’s YTD prices are 7% lower than last month’s YTD median price. The YTD price per foot for a vacant lot is $28.
Below is a graph showing the sales activity for vacant residential lots in Mammoth Lakes. Year to date land sales activity has already surpassed sales activity for any given year over the prior 10 years.
Looking for a home or condo in Mammoth. Here are a few quick searches to help you see what is available today:
Neighborhood Search: Search homes for sale in specific areas of Mammoth
Condominium Search: Search specific projects or areas for condominiums in Mammoth
