Mammoth Lakes CA Real Estate Blog

Limelight Residences Launch, Spring Break, Market Conditions & End of the STR Ban

Limelight Residence Great Room RenderingThe Limelight Hotel and Residence Official Launch

The Limelight Hotel and Luxury Residences construction project is progressing steadily. The official launch was March 20th at noon.  Five out of fifteen high-end residences were officially available, resulting in increased demand and the establishment of a sequence-based reservation system. The released condo floor plans included a 2-bedroom, 2-bath with 1,322 square feet at $2.6 million, a 3-bedroom, 3.5-bath with 2,207 square feet at $3,905,000, a 3-bedroom, 3-bath with 2,274 square feet at $4,185,000, a 4-bedroom, 4-bath with 2,936 square feet at $5,275,000, and the 5-bedroom, 5-bath Penthouse with 3,483 square feet priced at $6,550,000. The anticipated monthly HOA dues will range between $3,343 and $5,550, depending on unit size and floor plan.  The Limelight Residences will continue to offer the remaining limited number of units for reservations without delay.  The Limelight Hotel is a chain of hotels with locations in Aspen, Snowmass, and Ketchum. Amenities available at The Limelight Hotel and Residences in Mammoth Lakes will include an outdoor heated pool and hot tub, fitness center, complimentary breakfast, pet-friendly accommodations, ski valet and storage, complimentary shuttle services, on-site restaurants and bars, and spa services.

Skiers Gather at the Top of Mammoth MountainSpring Break in Mammoth

This has been the most popular spring break on record for Mammoth Lakes.  This could be attributed...

Will Mammoth Lakes Real Estate Values Decline in 2024?

Aerial View of Sierra Star Golf Course Properties Mammoth LakesBack in 2018, I remember thinking that the likelihood of values ever reaching over $600 per square foot would take several years (if ever).  Mammoth has historically been a sleeper town with not much intense demand in real estate to drive prices up.  There was the Intrawest boom in the late 1990s that lasted up until 2006.  Mammoth saw historically high prices for homes, condos and land.  After the financial collapse that started in 2008, many properties went back to the banks and the REO days came to light offering up real estate at severe discounts.  Those who were lucky enough to have bought at the bottom of the market in 2012 and still own have possibly tripled their investment since they purchased.  Then came the COVID-19 pandemic which brought unprecedented demand for an escape from cities and suburban areas.  Not long after the lockdowns began in April of 2020, curiosity and inquiries followed about investing in real estate in Mammoth Lakes.  The need to have a second, third or fourth home became what seemed to be an obsessive desire for many…  “The mountains were calling” everyone.   Then there is the component of “fear of missing out”.  The multiple offers returned, love letters to sellers, and suddenly what seemed like overnight, prices skyrocketed and have remained at record high levels. 

Although 2023 brought a series of steep interest rate hikes, it seems that buyers became accustomed to paying higher real estate prices.  The combination of limited movement on list prices, limited inventory and the desire to buy now vs. waiting are some of...

Green Mammoth, Water Everywhere and Healthy Summer Tourism!

Green Mammoth, Water Everywhere and Healthy Summer Tourism!

McGee Canyon Green Meadows and Flowers with Snow Covered MountainsAfter the record snowfall Mammoth received this past winter, we are off to one of the most beautiful summers I can remember going back several years.  The snow melt has turned everything green with flowers abound.  There is water flowing from everywhere, even places you didn’t think possible.  The lush greenery with the remaining snowpack at the top of the mountains makes for spectacular mountain vistas.  Because there is still snowpack at the higher elevations, the hiking has been very limited.  McGee Canyon has been at the top of everyone’s list as it is one of the few scenic hiking trails that isn’t completely covered in snow.  You can make it to the first waterfall and a bit beyond and will then encounter snow fields.  The Lakes Basin was supposed to open a week ago and it remains closed to thru traffic.  This has caused mayhem at Tamarack and Twin Lakes.  Once they open the road, it should alleviate some of the congestion from the Tamarack/Twin Lakes base area. Since recreation is so limited, tourism seems triple what it actually is.  With very warm temperatures on the way, the snowpack will be melting fast and should open some more terrain for hiking and recreation.

Inventory Levels & Pricing – Past and Present        

33 Bridges Lane Vacant Land for Sale in Greyhawk Mammoth Lakes...

Mammoth Real Estate Buyer & Seller Standoff

Fed Rate Moves Over the YearsHow did we get here?

When we review the past few years and where we are today, it is incredible how much things have changed on so many levels.  The real estate market and how people view real estate holdings is the most noticeable change post-pandemic.  Who would have thought when the country was under lockdown beginning March of 2020 that real estate values would end up doubling or tripling over the next few years?  In an effort to combat an inevitable slump in the economy, the Federal Funds rate was lowered to 0% to 0.25% on March 16, 2020.  This brought interest rates down to historically low levels which helped a much larger buyer pool to qualify for a second home purchase.  In Mammoth, the noticeable level of buying interest began in May and June of 2020, with unprecedented demand in 2021 when seemingly every new listing had multiple offers that drove prices way over the asking.  People just decided that they had to have a second, third, fourth or fifth home and with Mammoth being only a 5-hour relatively easy drive from Los Angeles, “the Mountains were calling” more than ever.  The need to get out of the city and the very strict lockdowns put Mammoth on everyone’s radar.  Although Mammoth started becoming popular with the advent of the Ikon pass, the pandemic put Mammoth on the map, which has undeniably changed the area forever.  It appears that people have to have a piece of the mountains in their real estate holdings now more than ever.  The pandemic buying frenzy continued through summer of 2022, which coincided with the interest rate hikes.   

Eagle Run 202 Ski In Ski Out Views...

Record Snowfall, Property Damage, Special Assessments and More Snow on the Way

Buried Condo Complex After Series of Storm and Roof ShovelingWhat a brutal winter this has been for Mammoth Lakes. The snowfall has been relentless and plenty of it accumulating in Town at record levels.  The Town of Mammoth Lakes recently issued an evacuation warning for snow damaged properties and a temporary shelter has been set up at the Mammoth Middle School for displaced residents.  Snow storms and cold temperatures began in early November and just haven’t stopped almost 5 months later.  The next few days show snow and unsettled weather followed by a break in the pattern and off and on snow until the end of the month.  Let’s hope that March goes out like a lamb and April has a much-needed dry period.  Mammoth has always been prepared for big winters in the past, but when the snow doesn’t have a chance to melt and snow has to be trucked out of town, this is when it becomes extremely costly, time consuming and a real hardship.

House Buried Under Deep Snow After Storm Series

Snow Accumulation at Roof Line of Buried House in MammothMany property owners are now uncovering layers of property damage all across Town from condo complexes to single family homes to commercial buildings.  The sheer weight of the snow with heavy...

Mammoth Lakes Real Estate Market Conditions and In-Depth 2022 Sales Analysis

Mammoth Lakes Major Snow Storm January 2023Snow, Snow, and More Snow

First and foremost, Happy New Year!  Mammoth Lakes has been hit with a parade of storms over the past couple of weeks that have dropped more snow than the Town and Mountain know what to do with.  The roads have been difficult to navigate with the intense crowds in town during such a powerful storm cycle.  The ski area has had a hard time keeping up with digging out chairs, de-icing chairs and doing avalanche control.  Most of the Mountain has been closed with only a limited number of lifts in operation over the past week.  However, it is great news for the much-needed snow pack, which should alleviate some of the severe drought conditions California has been experiencing the past few years.  As of today, January 10, 2023, Mammoth Mountain ski area now has a total of 310” for the season.  A normal season could expect to see around 400” of snow.  Keep in mind that last season the Mountain received only a total of 244.5” for the entire season in which half of that total was received during the big December 2021/January 2022 storm.  So, we are way ahead for the season considering it is only early January. The highest snow total on record going back to the 1969/1970 season was during the 2016-2017 season with 617” of snow (51 feet of snow).  After this current storm clears out tomorrow which is expected to drop another two feet by this evening, a few more small storms are on the horizon, but will be measured in inches, not feet.  This will give Mammoth Lakes locals and homeowners a chance to dig out their properties and enjoy some of those great skiing conditions with upper mountain coverage that hasn’t been skiable in...

The Reserve Residences for Sale Mammoth Lakes

Situated within a private gated community at the North end of the Villas at Obsidian development and tucked away in the pine trees bordering the 8th and 9th hole of the Sierra Star Golf Course, lies the future site of the Reserve Residences for Sale in Mammoth Lakes.  This peaceful and quiet location offers serenity and a feeling of being away from it all yet is very close to the Village at Mammoth and other resort amenities.

The Reserve Future Development Aerial View

The most desirable locations will be bordering the golf course, which include the 3 single family homes and the 18 Plan A townhomes.  Sign up now for priority selection before the best locations sell out. Please be sure to reference "The Reserve" in the contact form. Prices will start at $2.1 Million.  

3 detached single-family homes:
Lot 1 – 4 Bedrooms with 3,233 SF
Lot 2 – 4 Bedrooms with 2,311 SF
Lot 3 – 5 Bedrooms with 3,801 SF

15 town home buildings with a total of 30 townhomes:
Plan A – Lots 4-21 with 4 Bedrooms and 2,752 SF
Plan B – Lots 26-33 with 3 Bedrooms and 2,214 SF
Plan B2 – Lots 22-25 with 3 Bedrooms and 2,214 SF

The interiors will incorporate a blend of natural earth tones featuring...

Limelight Residences for Sale Mammoth Lakes

Limelight Residences for Sale Mammoth Lakes

Request Registration Form Here for Priority Selection
~
Please reference LIMELIGHT in contact form~

The Limelight Residences for Sale in Mammoth Lakes is currently under construction at the highly visible corner location of Lake Mary Road and Canyon Blvd.  This luxury development will include a very limited collection of 15 luxury residences with staggering mountain views, generous square footage, floor plans ranging from two to five bedrooms in size, high ceilings, modern yet elegant interior design, spacious outdoor decks to enjoy the outdoors, and valet parking.

Construction completion is estimated for 2025.  Floor plans have been finalized and prices will begin in the low to mid $2 Million range and up.  All of the 15 condos will be located on the same side of the building with a “Resident Only” elevator and owners will have access to the common area swimming pool and hot tubs. Ownership includes membership in Mammoth's first private social club called “The Mammoth Mountain Club” featuring luxury locker rooms, a private lounge, etc.

The location is directly beneath the Westin Monache with easy access to the Village gondola to Canyon ski lodge across the street, along with a variety of shopping and dining options right at your door step.  It doesn’t get much more convenient than this.  Those of you who have been hoping for more inventory at the Village, look no further as these luxury residences will be far...

Mammoth Receives “Best Ski Town” Vote

Skiing Powder Mammoth MountainAs of today, December 13, 2022, the Mammoth Lakes real estate market has a total of 41 condos, 10 houses and 9 lots on the market.  Inventory continues to be very low with fluctuating supply and demand.  Mammoth Mountain has reported a storm total of 130 inches so far this season.  The most recent storms the past couple of weekends have brought some 60” of new snow with very cold temperatures, which is making great snow conditions for early season skiing and riding. This Saturday, December 17th is the annual “Night of Lights” celebration at Canyon Lodge.  The fireworks should be spectacular and with all the new snow, quite a crowd is expected.  I have heard from Mammoth Lakes Tourism and various rental agencies that they are near 100% booked.  The holidays are sure to bring in record crowds over the next few weeks.

Recently, Mammoth Lakes was voted the “Best Ski Town” in North America in the “2022 USA Today 10Best Readers’ Choice Travel Award contest”.   The top ten included: 1. Mammoth Lakes 2. Banff 3. North Conway 4. Stowe 5. Banner Elk 6. Park City 7. Jackson Hole 8. Telluride 9. Aspen 10. Ketchum.  Although, Mammoth Mountain arguably has the best skiing terrain in North America with long seasons and many fun off-mountain recreational options, it isn’t as accessible nor developed as some of the other well-known resorts named above.  There are great plans to improve the infrastructure and Town amenities in the future, but Mammoth does have a way to go before really earning...

Mammoth Lakes Current Real Estate Market Conditions

Fall in the Sierras & Ski Season Opener

Fall Colors at Rock Creek LakeThis has been a beautiful fall season in the Eastern Sierra with warm temperatures and vibrant fall colors throughout the region.  Tourism has stayed consistent with occupancy levels ranging in the mid-40% midweek and mid-50% during weekends. Cooler temperatures have finally hit the area and the 10-day forecast shows highs in the low to mid-50s and lows in the low to mid-20s. This is great snow-making weather just in time for the Mammoth Mountain ski season opener on November 11th, 2022.  The Mountain will have a winter kick-off party at Main Lodge to celebrate.

Mammoth CRC & Ice-Skating Rink

Town of Mammoth Lakes Community Recreation CenterThe Town is finishing up the construction of the massive Mammoth Lakes Community Recreation Center, which will include an Olympic sized ice-skating rink.  The 20,000 SF arena will operate year-round and will offer additional recreational opportunities during the summer months with durable sport tiles to cover the ice-skating rink. There will also be several electric vehicle charging stations and ample parking.  The development is located within the Mammoth Creek Park area off Old Mammoth Road and close to the Stove Restaurant. The official “Ribbon-Cutting” opening ceremony will take place at some point this coming winter season 2022/2023 once the development is finished.  In the meantime, the existing ice-skating rink will re-open Thanksgiving weekend on November 25, 2022....

Are We Heading into a Buyer’s Market in 2022?

420 LE VERNE HIGHEST PRICED PROPERTY IN MAMMOTHAs of today, January 25, 2022, the Mammoth Lakes real estate market has a total of 19 condos with an average list price of $1,003,315.00, 6 homes with an average list price of $3,847,316.00, and 10 lots with an average list price of $1,113,200.00 on the market.  Is the bubble about to burst??  Nothing lasts forever as we all know… To put it in perspective, prior to the pandemic, looking at the end of 2019 (a normal year), we had roughly 61 condos, 62 homes and 42 vacant land listings on the market.  In May of 2020, we had roughly 85 condos, 27 homes and 30 vacant land listings.  This goes to show just how low the inventory has gotten, which has driven the prices sky-high with unprecedented demand and almost no selection. 

CREEKHOUSE 3-BEDROOM TOWNHOUSE HIGHEST PRICED CONDO IN MAMMOTHThe very recent and sudden increase in inventory mainly applies to the condo sector of the market that was quickly approaching “zero” inventory a couple of weeks ago.  This increase in inventory seems to coincide with uncertainty in the financial markets and the looming talk of an inevitable rise in interest rates to combat inflation.  For the first time in months, the spot price of gold has risen dramatically from the $1,700 per ounce range to the mid $1,800 price today, and is expected to go higher.  This indicates consumer apprehension about the economy, rising inflation, and geo-political uncertainty.  Even though consumer sentiment still remains very high, the recent losses in the stock market,...

Where is the Inventory?

Mammoth Mountain Ski Area After Series of Snow StormsAs of today, January 6, 2021, the Mammoth Lakes Real Estate Market has a total of 4 condos, 6 homes and 8 lots for sale.  These are historically the lowest inventory numbers Mammoth has ever seen.  Typical inventory levels prior to the pandemic in a “normal” market for this time of year would include approximately 50 to 60 condos, 40-50 homes and around 45 lots.  Out of the 4 condos currently on the market, there are offers on three, which means we could actually drop to nothing for sale within the next few days.   

Lowest Priced House In Mammoth Lakes on the Market at $1,250,000In May of 2020, during the lockdowns, Mammoth Lakes had roughly a total of 85 condos, 27 homes and 30 lots on the market.  Going back to end of November 2019, there was a total of 61 condos, 62 homes and 42 vacant land listings.  Clearly the pandemic has created very strong demand to own real estate in resort areas such as Mammoth Lakes, which is only 4-square miles with limited supply in a normal market. When the pandemic hit, it seemed that most buyers were looking to substitute travel, dining and entertainment with a second home.  Only a few hours from L.A. and San Diego, Mammoth has become the perfect “drive to” getaway.  People could work remotely, while enjoying the outdoor recreational opportunities.  Initially, condos were in high demand, which could provide a second home with the opportunity to generate rental income once things would return back to “normal”. ...

Market Review 4th Quarter 2020 vs. 4th Quarter 2019

Mammoth Lakes Brilliant Sunset Over the SherwinsAt the moment, the Mammoth Lakes real estate market has a total of 25 condos, 19 homes and 30 lots listed for sale.  At this time last year, we had 64 condos, 49 homes and 27 lots on the market.  The Mammoth Lakes real estate market continues to see strong demand for homes and condos.  However, some resistance to increasing prices is evident.  As demand began to surge last summer and exploded into a buying frenzy by late summer and early fall, sellers realized that they could test the market by increasing list prices above the most recent closed sale.  It seemed that buyers were willing to pay much higher prices versus recent sales, especially within the Snowcreek development.  Many of the condos within Snowcreek that listed at market value were then bid up far over the asking price with sometimes as many as ten offers on the table. 

Grand Sierra Lodge Village at Mammoth EntranceOthers listed far over the last comparable sale and sat on the market for a few weeks before selling close to asking.  This was the case for many condos with larger floorplans, covered parking or private garages, views, setting and outdoor spaces.  Buyers were also focused on the Village at Mammoth condos and any condos located within the resort areas, close to the amenities and potential for lucrative rental income.  The four most popular areas were (and continue to be): Village, Golf, Meadow, and Ski, which commanded the most sales at increasing prices.  Although this dynamic is still present for selective condos, it isn’t...

Record Low Inventory, High Demand and Increasing Prices

Westin Monache Swimming Pool in SummerAs of today, November 26, 2020, the Mammoth real estate market continues to experience record low inventory levels.  At the moment, there are only 32 condos (of which 9 are Westin Monache listings), 22 houses, and 39 lots on the market. New listings seem to be trickling onto the market at a much slower pace than they were over the summer.  It is hard to estimate what the real estate market will do next year.  It is clear that for the time being, sellers seem to be holding onto their properties. 

Back in March, I would have never guessed that the demand for Mammoth properties was going to sky rocket the way that it has.  It seemed likely that tourism would be off the charts this summer because Mammoth has always been a convenient “drive to destination”, but the buying frenzy that occurred was similar to the Intrawest days back in the early 2000s.  

Cabins at Crooked Pines Condo Complex Activity and interest began to increase in late May, and once nightly rentals were again permitted during the middle of June, many buyers were already pursuing properties on the market.  The trend of writing offers “site unseen” started to gain momentum and became a popular way of securing a property prior to viewing it in person.  Many agents have been using a virtual tour called a “3D Matterport Tour”...

How to Keep Your Condo in Great Shape: Tips on Covering Major Repair Costs

Guest Post by Julian Lane "Mr Fix It"

Courchevel Condos Exterior in Winter SnowOwning a condo has many significant benefits over a larger property. However, just like with a house, you must be ready to cover any major repairs you’ll encounter. So, here is everything you need to know to help with and be prepared for those costs.

Typical Condo Repairs
In many ways, owning a condo is similar to a house. Of course, your condo association will cover certain repairs and maintenance, but those usually involve communal spaces. Unfortunately, that means you have to be ready for everything else. At the least, you'll need to budget for repairing essentials like your forced air heating or roof, the latter of which costs an average of $1200. Siding repairs can run into the thousands if material and labor are included. Moreover, floors get a lot of wear and tear, so you should also have at least $3,500 in your budget for them towards future replacement. These costs can quickly escalate, particularly if there are multiple repairs needed at once.

What to Have in Savings
Because of these expenses, having sizable savings to use as a rainy-day fund is a must. Many repairs cannot wait for us to save up, as they have to be dealt with immediately. Often, it’s best to put aside 10 percent of your monthly mortgage into savings for repairs. While that might sound steep, consider that people spend nearly $5,000 a year on maintenance and refurbishment. With that in mind, having emergency funds takes on greater importance. Another option to consider is refinancing your home. A refinance allows you to use the equity in your home for cash which can then be used to pay for repairs.

How to Save Fast
If you haven’t...

Mammoth Lakes Real Estate Current Market Conditions July 5, 2020

150 E Bear Lake Drive Listed for $1,765,000As of today, the Mammoth Lakes real estate market has 119 condos, 45 homes and 34 vacant land listings. Activity both around town and in the real estate market continues to be quite busy.  During the past 6 days, a total of 26 properties went under contract.  There was a total of 33 new listings that hit the market leading up to the 4th of July weekend.  Last week’s inventory count was 114 condos, 43 homes and 34 vacant land listings, which shows the strong demand considering the number of new listings the past few days.  Most of the new listings during the past week were condos.  This sector of the real estate market has the most demand at present.  Homes that are priced below $1 Million and priced around market value in desirable areas within Mammoth seem to go quickly as well.  The higher end homes priced above $1.5 Million are not in demand at the moment.  It appears that most buyers are looking for the opportunity to generate rental income to help offset their costs of ownership and since most homes are located within “residential” zoned areas, you cannot rent them on a short term basis, but with a minimum of 30 days at a time.  There are very few neighborhoods that are zoned “resort” and can be rented out nightly.  Because of this, homes located within neighborhoods like Gray Bear and Graystone are in high demand and sell quickly when they do hit the market.  There was a new listing at Gray Bear a couple of weeks ago which listed higher than the last property that sold in this neighborhood just under a year ago and went under contract with a list price of $1,765,000 within 48 hours of listing.    

Views from 232 Solitude in the Snowcreek Meadow ...

Spring is Here! Mammoth Lakes Real Estate Market Conditions May 4, 2020

Mountain Meadow in the Spring with DaffodilsWith beautiful weather and warmer temperatures, the snow is melting away on the lower elevation trails, Daffodils are beginning to bloom around town, and the deer have made their way back for the season.  Like most locals, I am very much looking forward to summer, which is my favorite time of year in Mammoth.  Many of the condo complexes are beginning their post winter cleanup of debris, raking the grounds, firing up the irrigation systems, and getting things ready for summer.  Although there is still quite a bit of snow in the upper elevations, there are a few great early season hikes that are very enjoyable until other higher trails become accessible after the snow melts. Things still remain very quiet in town as businesses are still closed until further notice.  Lodging falls under that category as well.  Many second homeowners have been enjoying their properties here in Mammoth and making the best of their quarantine/stay at home order.  This has actually made it feel less like a ghost town, seeing people out walking their dogs, hiking, biking, running, out driving around, and getting some fresh air. 

Earlier this afternoon, Governor Newsom stated that “California will begin opening in the next week”.  This phase two of reopening will allow for some California businesses to reopen with strict regulations. ...

Spring 2020 Mammoth Lakes Real Estate Market Conditions Amidst COVID-19

Main Lodge on April 15th and Mammoth Mountain with feet of new snowAs of today, Monday, April 20th, the Mammoth Lakes real estate market has a total of 81 condos, 30 homes and 29 lots listed for sale.  Traditionally, around April 15th, both of the lower elevation lodges at Canyon and Eagle close for the season, and inventory tends to rise.  Due to well-substantiated concerns of the COVID-19 virus spreading to mass proportions within the Mammoth Lakes population, Mammoth Mountain suspended operations until further notice on March 15th.  It was somewhat of a disappointing season up until the mountain closed with some of the lowest snowfall totals on record.  Everyone was hoping for a “miracle March” and looks like March did turn out to be a snowfall miracle with the Mountain receiving over 10 feet of snow since it suspended operations.  Some of the photos shown here in this blog post taken on April 15th of the Main Lodge area and Stump Alley Express really capture the “quietness” of the Mountain.  In all of the years that I have lived in Mammoth and started skiing Mammoth when I was 10 years old, I have never experienced the kind of peace, quiet and stillness that can presently be felt, as well as observed.  This is a “once in a lifetime” experience to witness this kind of solitude in what would normally be a time of hustle and bustle, especially after the March storms and spring break in progress.   Mammoth Mountain closed until further notice with feet of new snow...

Mammoth Lakes Current Real Estate Market Conditions March 23, 2020

Convict Lake Before Snow Storms March 10th, 2020As of today, Monday, March 23, 2020, the Mammoth Lakes real estate market has a total of 59 properties in escrow, 91 condos on the market, 39 single family homes on the market, and 32 vacant land listings.

As can be expected, the Mammoth Lakes real estate market has slowed dramatically over the past few weeks as the news of COVID-19 has continued to spread worldwide with many new cases in the U.S.  As of today (right now) there are a total of 379,375 confirmed cases worldwide of which 45,346 are in the U.S.  Out of the confirmed cases in the U.S., California has a total of 2,134.  California’s current total population of residents is 39,937,489, which has grown from 38.95 Million in 2015.  With such a large population in California and fearing disaster without containment of the virus, on March 19th, 2020, Governor Newsom ordered all California residents to stay home.  The order is in place until further notice. It covers the whole state of California, “and it exempts activity as needed to maintain continuity of operation of the federal critical infrastructure sectors, critical government services, schools, childcare, and construction, including housing construction.”  As of March 19th, the Town of Mammoth Lakes Health Department has asked that all non-residents not come to Mammoth until further notice, which is expected to be until at least April 30th.  With that said, there are no hotels or properties that are taking reservations in an effort to support the executive order.  You can read about the details of the executive order by ...

Is the Corona Virus and Stock Market Reversal Impacting Property Values in Mammoth?

HOUSE FOR SALE ON ACREAGE AND VIEWS IN SWALL MEADOWSAs of today, there are 70 condos and 46 homes on the market.  Over the past couple of weeks, the inventory in the condo market has increased by 7 condos and 3 homes, which is minimal given the perceived panic conditions amplified by the media.  In addition to the human tragedy of the Corona virus (COVID-19), the past couple of weeks have been extremely volatile in the financial markets with many people seeing their portfolios give back most of the generous gains in the stock market over the past year.  This massive sell-off was initiated by news of COVID-19 spreading throughout the world and its possible effect on global economic growth.  So, how is this affecting the real estate market in Mammoth, or is it too early to tell?  It appears to be too early to tell what the possible ramifications might be on the Mammoth Lakes real estate market and property values.  Interestingly, website inquiries about active listings are up over the past few days.  MammothLakesResortRealty.com enjoys some of the highest Google rankings for Mammoth Lakes real estate related searches, and as a result, changes in the market (up or down) are easily gauged. 

Stock Market Screen Snap Shot Buy or SellThe turmoil in the financial markets has forced a further reduction in interest rates,...

From our Blog

Sign up to receive weekly real estate market updates, market trends, featured properties, and new listings.
SIGN UP NOW

Popular Searches

Testimonials

Why work with Verena Robinson & Mammoth Lakes Resort Realty?

CLICK HERE

Latest Blog Posts

News, tips and information on the Mammoth Lakes Real Estate Market.

View All Posts

Market Snapshot

Pricing trends, average days on market, and more, updated every day.

View All Stats

Condo Buying Guide

Interested in purchasing a condo in the Mammoth Lakes area? We're here to help.

Read More