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.
With 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 ...
Over 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. 
As 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 general, the condos at the 
As 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.
It 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...