Mammoth Lakes CA Real Estate Blog

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...

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