Real News – October 2017

MARKET HIGHLIGHTS With the days shortening and the first dusting of winter snow on the mountains, there is great anticipation for what winter 2017-2018 will bring-for snow and real estate activity.

The 3rd Quarter 2017 real estate market performance was healthy and constrained by the limited supply. While last year at this time it was still a buyer’s market, it has now switched to a seller’s market.
When comparing 3rd Quarter Sales for this year to the previous year for Mammoth Lakes:

*   Number of Closed Sales Increased 18%
*   Median Price for Condominiums Increased from $310,000 to $339,000
*   Median Price for Single Family Homes Increased from $685,000 to $750,000
*   Number of Active Listings Decreased 48% from 267 to 140

Congratulations to all the N.Y. Marathon runners and especially Shalane Flanagan and Meb Keflezighi. Living in Mammoth, I’ve had the pleasure of meeting both Shalane and Meb. They are amazing runners and true heroes for the values they espouse.

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