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Mammoth Lakes Real Estate Market Conditions

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...

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...

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...

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...

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