Mammoth Lakes Area Real Estate Analysis: September 2023
Buying or selling property can be complicated, especially when dealing with different types like houses, condos, and townhouses. Understanding the key metrics for these property types can provide both buyers and sellers with invaluable insights to make informed decisions. Let’s dive into the current state of the Mammoth, California real estate market.
Months Supply of Inventory: Seller’s Market or Buyer’s Market?
Currently, the “Months Supply of Inventory” is at 4.42. This metric shows how quickly all the homes for sale would be sold if no new homes were listed. Typically, a lower number suggests a seller’s market, where the listing price may rise because of high demand and limited supply.
12-Month Change in Months of Inventory: Shifting Trends
There has been a significant increase of +54.55% in the “12-Month Change in Months of Inventory”. More homes available in the past year, giving buyers more choices and stronger bargaining power.
Median Days Homes are On the Market: Pace of the Market
Homes sell in the current market after an average of 19 days on the market. This fast-paced market indicates high demand and potential competition among buyers.
List to Sold Price Percentage: Market Strength
The “List to Sold Price Percentage” is 99%, showing a strong market where houses sell for almost the listed price. This suggests that there is a high level of interest from buyers and sellers may receive multiple offers.
Median Sold Price: Pricing Trends
The “Median Sold Price” for properties currently sits at $810,000. This figure helps buyers and sellers understand home prices in the market. It shows the overall pricing trends and what to expect.
Conclusion: A Mixed Market
The Mammoth housing market exhibits various characteristics when it comes to single-family homes, condos, and townhouses. On one hand, there is an increased inventory of these properties available for sale, providing prospective buyers with a wider range of choices. However, it’s important to note that these homes are selling rapidly, and prices remain elevated.
This suggests strong demand and potential competition. Buyers and sellers should consider these metrics when making decisions in the current market. As always, consulting with a trusted real estate professional can provide further guidance and confidence in navigating the market.
Using Trusted Real Estate Services in Mammoth Lakes
Dynamic Market of Mammoth Lakes
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For any questions about the Mammoth Lakes real estate market, feel free to contact me today!