Mammoth Lakes CA Real Estate Blog

Properties in the Spotlight – This Week’s Recommendations

As of today, February 24, 2015, there are a total of 151 condos, 50 homes, and 47 vacant land listings on the market in Mammoth Lakes.  During the past week, there were a total of 12 price reductions, several extended listings and a couple of “back on markets”:   A Grand Sierra Lodge 2-bedroom condo listed for $449,000 on the 2nd floor, and a Westin studio unit on the 6th floor (with south-facing views overlooking the pool and mountains) listed for $249,000.  Clearly, the lack of snow this ski season has been somewhat of a disappointment for many people, including visitors, prospective buyers and sellers.  The visible increase in new listings and price reductions over the past couple of weeks definitely shows some motivation from sellers who have decided to list or reduce their asking prices sooner than the typical spring time period after Canyon and Eagle lodges close for the season.     

Fly fishing in the Mammoth Lakes areaWith that said, interest continues to remain very high in Mammoth Lakes real estate.  Buyers are still actively looking at properties online, making inquiries and scheduling showing appointments.  Even though we’ve been through a few drought years, there is still some snow to ski on and it doesn’t change how beautiful this area is and all of the wonderful recreational opportunities it provides.  Everything cycles in life, including the weather.  This drought cycle will come to an end and it will snow heavily in Mammoth Lakes again.  So, we all just have to wait it out and in the meantime, enjoy the beautiful weather!  Check out the ...

Mammoth Lakes Homes for Sale: Top 5 Recommendations of the Week

For the week of February 16, 2015, the MLS currently shows a total of 50 homes on the market in Mammoth Lakes only, ranging in price between $329,000 in the Sierra Valley Sites I subdivision up to $6,500,000 for a luxury home in the Bluffs. 

SOLD THIS WEEK 557 MAJESTIC PINES FRONT OF HOMEOver the past seven days, there were a total of three closed sales for single family homes in Mammoth: 688 Majestic Pines in the Mammoth Vista III subdivision sold for $915,000 @ $379.50 per square foot (PSF), 557 Majestic Pines, also in the Mammoth Vista III, subdivision sold for $1,425,000 @ $373.92 PSF, and 285 Juniper Road in the Juniper Ridge subdivision, which sold for $2,875,000 @ $663.21 PSF.  Juniper Ridge is Mammoth’s only true “ski-in, ski-out” luxury residential neighborhood, which also offers 180-degree spectacular mountain views. 

The following are my top 5 recommendations of the week for Mammoth Lakes homes for sale:

1428 MAJESTIC PINES LOG HOME1428 Majestic Pines: This 3 & loft, 2-bath with a 2-car garage is listed for $665,000/$353 per square foot.  This cute log home has a convenient...

Mammoth Lakes Condos for Sale: Review of Developments with Oversupply of Inventory

1849 Condos Development at base of Canyon LodgeAs of today, February 9, 2015, there are a total of 149 condos on the market in Mammoth Lakes.  It’s pretty unusual to have the inventory climb during the middle of winter/ski season, which is typically the time of year when inventory tends to be at its lowest based on historical averages. 

In reviewing the inventory numbers for late summer of 2014, there were a total of 140 condos on the market during the middle of August, and only a small increase from that number over Labor Day weekend to 146 condos.  Labor Day weekend tends to mark the peak of the inventory for the condo market.  We will usually see a sharp decrease in inventory as we approach ski season, as many condo owners will hold onto their units to capitalize on potential rental income.  However, this has been an unprecedented drought year – the worst drought year on record so far for Mammoth Lakes/Mammoth Mountain ski area.  So, it isn’t surprising to see the condo inventory growing.  If this lack of snowfall continues, it will be interesting to see what the inventory may grow to after Canyon and Eagle Lodges close for the season (usually around April 15th), which is usually when you see the condo inventory grow. 

Village at Mammoth Condos PlazaIn general, the condos at the ...

Mammoth Lakes Homes for Sale – Market Trends & Property Recommendations

506 JOHN MUIR ROADAs of today, February 3, 2015, the Mammoth Lakes single family residence inventory is down to only 50 homes on the market.  There were a total of 7 closed residential sales in the month of January.   The most noteworthy sales were:  506 John Muir, which listed for $4,950,000, and sold three weeks after it hit the market for $4,250,000/$621 PSF, cash, and 7-day escrow.  60 Starwood, which originally listed for $1,950,000, after a series of price reductions, sold for $1,730,000/$480 PSF with conventional financing.60 STARWOOD DRIVE    

There are currently a total of 16 pending residential sales ranging in list price from $499,000 up to $2,999,000.  Out of the 16 pending sales, 5 homes are priced between $499,000 and $699,000; 4 homes priced between $849,000 and $995,500; 5 homes priced between $1,100,000 and $1,500,000; and the remaining two are priced at $2,495,000 (155 Hillside Drive, across the street from Grand Sierra Lodge) and $2,999,999 (285 Juniper Road at Juniper Ridge). 

147 JUNIPER ROADIt appears that the upper end of the market has interest and support.  We haven’t seen a sale close over $4 Million in several years…  Actually, the last sale to close at $4,000,000 was 147 Juniper Road (the yellow house on the ski slope at Eagle Express, which has recently undergone an exterior facelift) on February 27, 2008.  The lack of snow and limited skiing doesn’t seem to be stopping...

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