• Mammoth Lakes Market Conditions

Mammoth Lakes Market Conditions

Mammoth Lakes Real Estate Market Update & News October 22, 2018

189 Woodcrest Trail in EscrowAs of today, October 22, 2018, the Mammoth Lakes inventory has a total of 54 homes, 97 condos and 55 lots on the market.  Homes (in general) have been slow to sell with an “average days on market” of 127 for the current active listings in this category. Out of the 54 homes on the market, 19 homes are listed between $380,000 and $800,000, 10 homes are priced between $800,000 and $1 Million, and the remaining 25 homes are priced between $1 Million and $4.395 Million.  There are equally as many homes priced up to $800,000 as there are homes on the market priced between $1 & $2 Million (19 homes), and 7 homes priced between $2 Million and $4.395 Million. During the past couple of weeks, a few of the homes which have been on the market for some time went under contract.  Among these are: 189 Woodcrest Trail listed for $1,995,000, 310 Ranch Road listed for $1,499,000, and 464 Courchevel in the Knolls listed for $1,399,000. Fall is typically the time of year when the mid to upper end of the single-family home market begins to move. 

Stonegate #12 Luxury Condo Sold for $1,575,000This year to date, 294 condos have sold with an average of 89 days on market, ranging in sales price from $182,000 up to $1,575,000, with an average sales price of $445,225. Last year for the same period, 339 condos sold with an average of 110 days on market, ranging in price from $104,000 up to $1,087,000, and an average sales price of $389,671.  Condos have been in high demand all year up until recently, which could coincide with rising interest...

Mammoth Lakes Olympians and Real Estate Market Conditions

Shaun White at Pyeong Chang Olympics in Half PipeThe Winter Olympics currently underway in Pyeong Chang showed Shaun White’s hard-earned gold medal victory yesterday in the men’s half pipe competition.  The evolution of talent and skills in the half pipe has reached incredible athletic levels over the last few winter Olympic games.  Winning the gold medal for Shaun was no easy task coming out of a severe fall and injury in New Zealand last October, while training in the half pipe, along with competing against several other extremely talented snow boarders from all over the world.  Shaun White, who invested in Mammoth Mountain a couple of years ago, trains in a variety of places, but most frequently in Mammoth.  The same is true of Chloe Kim, a 17-year old phenom who took home the gold medal for the ladies’ half pipe competition.  Chloe has been training in Mammoth for many years as has Kelly Clark, a Mammoth local who has won 7 gold medals in the Olympics and Winter X Games combined.  Let’s not forget about the summer Olympic athletes that are also Mammoth localsl: Deena Kastor, Olympic medalist and American Record Holder, and Meb Keflezighi, long distance marathon runner and Olympic medalist.  Mammoth Lakes is home to some of the finest athletes in the world and provides an ideal ...

Mammoth Lakes Real Estate Market Conditions August 8, 2017

Snowcreek Meadow with Wildflowers and Mammoth Rock in BackgroundWe’ve had some gorgeous summer weather in Mammoth Lakes with the exception of this past weekend, with some heavy rains on Saturday during the “Blues and Brews” festival.  The meadows and the foliage are spectacular this year.  Wildflowers of every variety seemed to have popped up after the rainstorm this weekend.  Mammoth Mountain officially closed this weekend for skiing, but the recreation continues with the mountain bike park in full swing.  Warm temperatures are expected to continue (low to mid 70s) over the next 10 days. 
As of today, Tuesday, August 8th, 2017, the Mammoth Real Estate market has 54 homes, 80 condos and 43 lot listings for sale.  There is currently a total of 47 condos in escrow, 18 homes in escrow, and 3 vacant land listings in escrow.  Condo pending sales data is as follows:  Average days on market at 78, median days on market at 43, highest list price at $1,149,000, lowest list price at $150,000, average list price at $432,280, and total sales volume for condos in escrow at $20,317,200.  Single family homes pending sales data is as follows: Average days on market at 113, median days on market at 53, highest list price at $3,200,000, lowest list price at $274,500 (USFS cabin), average list price at $862,852, median list price at $790,000 and total sales volume of homes in escrow at $14,668,500.  Out of the 3 vacant land listings in escrow, one is located at the Bluffs with a list price of $419,000. 
13 Larkspur House Near Village Multiple Offers...

Mammoth Mountain Resorts Purchase Complete & Market Conditions

Mammoth Mountain Ski AreaIt’s now official; Mammoth Mountain Resorts has changed ownership.  KSL Capital Partners (KSL) and Henry Crown and Company (HCC) have completed the purchase, which includes Mammoth Mountain ski area, June Mountain, Bear Mountain and Snow Summit.  KSL and HCC also own Canadian Mountain Holidays (CMH) heli-ski operation, various real estate businesses, Squaw Valley in California, Alpine Meadows in California, Steamboat ski resort in Colorado, Winter Park in Colorado, Blue Mountain in Ontario, Mont Tremblant in Quebec, Stratton Mountain in Vermont, and Snowshoe Mountain Resort in West Virginia.
Along with the completed purchase of Mammoth Mountain resorts, changes to the leadership and management structure have been implemented.  Bryan Traficanti of KSL is now the interim Chief Executive Officer of the new company until the position is filled.  Thomas Marano, Chief Executive Officer of Intrawest resigned, Rusty Gregory, Mammoth Resort’s Chairman and CEO, is now an investor in the new company and will serve on the Board, and become Senior Strategic Advisor to the new company.  Mark Brownlie is the newly appointed President and COO of Mammoth Resorts.
The statement below was released yesterday by the new company’s (KSL & HCC) interim CEO, Bryan Traficanti: “This transaction marks a significant milestone for our company, our guests, and our communities, and we are excited about the opportunities that lie ahead as a result of combining Intrawest, Squaw Valley Ski Holdings, and Mammoth Resorts. “We believe that each resort brings something different to the company, and our goal is to preserve the unique character and culture of each while also building something greater. Supported by affiliates of KSL and HCC,...

Mammoth Lakes Real Estate Market Conditions May 26, 2017

Mammoth Lakes back country lakeHeading into the unofficial start of the summer, Memorial Day weekend, Mammoth Mountain still has several feet of snow, which would compare with coverage for an above average season during late February.  Because of the substantial snowpack, which will take quite some time to melt, the outdoor recreational opportunities will be limited.  Camping, hiking, and even golf may not be an option until July.  Although most of the snow has melted from the Snowcreek golf course, the flooding is an issue with the snow that has just begun to melt from the Sherwins and Crest.  Mammoth has had some short bursts of warm weather, which has started the snowmelt, but we haven’t seen anything yet!  The Snowcreek meadow preserve has become one flowing river, which will only intensify once the temperatures turn very warm for extended periods of time.  Enormous amounts of snow can be great fun in the winter months for skiing, but can slow down the summer recreational activities in the higher elevations due to the time it takes for the snow to melt.   It is questionable as to when the campgrounds surrounding the lakes basin will be clear of snow and open for camping this summer.  The HWY 120 to Yosemite isn’t expected to open until July this year as well.  There is no doubt that the summer foliage will be exceptional this year with a variety of wild flowers and greenery all over Mammoth.  Mammoth Lakes offers exceptional beauty in the summer months that many of the winter visitors have yet to discover. 

The Mammoth Lakes real estate market experienced a noticeable increase in sales volume during the months of April and May, which is uncharacteristic for this time of year.  Typically, after Canyon and Eagle Lodges...

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