Home sales on the up-and-up in Mammoth area
Home sales have increased over the past year in almost all segments in Mammoth and the surrounding areas.
As long as the global economy remains stable and interest rates remain at all time lows, we can expect this trend to continue.
Historically, our sales increases follow the Southern California market by a few years and that is certainly true now.
Also, although there will be drops in the market, as happened during the last decade, the upward trend continues to increase in California decade after decade.
For sellers who have been waiting for the market to trend upward, this is a good time to sell.
When priced right, homes are selling quickly.
Buyers who are looking to finally make the move should consider doing so now while the interest rates are low and before our market begins to match the Southern California increases.
Home sales for the Mammoth, Crowley and June Lake neighborhoods have increased since last year. For those of you who love numbers, the table above shows us the details.
Because of the seasonal nature of real estate sales in Mammoth, I compared January through June 2013 with January through June 2014.
Single Family Homes
Year-to-date average sales prices of single family homes in Mammoth Lakes for this year increased by 15.8% over last year.
There was a slight decrease in number of sales this year vs. last year, however the price volume was substantially higher.
Year-to-date average sales prices of single family homes in Crowley increased by 34% in comparison to the same period last year.
Year-to-date average sales prices of single family homes in June Lake increased by 85% this year. There was a substantial decrease in total number of sales this year.
The closing of June Mountain Ski Area during the 2012/2013 winter may have affected sales but June Mountain reopened and homes appear to be regaining value.
Year to date average sales prices for condominiums in Mammoth Lakes increased by 10% compared to this same period last year.
In Crowley Lake, average sales price for condos increased by 23% over last year although there are very few condo sales in the Crowley area.
In June Lake, the average condominium sales price decreased by 17% compared to last year.
Celia Stewart is a realtor with Mammoth Realty Group in Mammoth Lakes. The data presented in her column is taken from the MLBOR MLS and is deemed reliable but not guaranteed. She can be reached at 760-914-0508 or firstname.lastname@example.org.