Mammoth Lakes CA Real Estate Blog

At 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. 

Others 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...