Mammoth Lakes Market Conditions & Properties in the Spotlight
The Town of Mammoth Lakes appears to be heading into the shoulder season a lot sooner than in previous years. It feels very quiet in town, along with reduced activity in the real estate market (overall). Eagle Express (chair 15) has closed for the season due to lack of snow and warm temperatures. Canyon Express (chair 16) is still running for the time being. The Mammoth “Cali4nia” passes are now on sale for the 2015/2016 ski season for $689.00, which includes a $100 resort credit. The pass is good for Mammoth Mountain, June Mountain, Bear Mountain and Snow Summit ski areas. Coming out of one of the worst drought years on record for Mammoth, I’m going to be optimistic in saying that it can’t get much worse than this. I am hopeful that next ski season will bring normal snowfall to the Sierra Nevada range, which will help chip away at the severe drought conditions. NASA reported last week that California has 1 year left of water (at the current levels). We need the snow to fall in copious amounts not only for recreation, but most important, drinking water and farming.
As of today, March 24, 2015, there are a total of 162 condos, 55 homes and 49 lots on the market. During the past week, there were a total of 10 new escrows and pending...
During the past week, the Mammoth Lakes Real Estate market has seen an explosion in new listings with a total of 24 from Monday, March 9th until Sunday, March 15th. Most of these new listings have been condos with a few single-family homes. It isn’t surprising that we are seeing so many new listings hit the market this early after such a dismal ski season. Typically, we don’t see this volume of new listings until after Canyon and Eagle Lodges close for the winter (usually around mid-April), although, that might happen very soon…. Compared with last season, if this “listing” trend continues, it’s apparent that there will be much more inventory and a great selection for buyers to choose from in the coming months. To read about what’s going on in the real estate market nationwide, be sure to visit “
The Lodges #1203 listed for $665,000: This luxurious, yet rustic, 2-bedroom, 2.5-bath condo with an attached one-car garage, and 1,856 square feet of living space, sits right on the Snowcreek Golf Course. This is one of only 3 Plan 1 models in Snowcreek's "The Lodges" with golf course frontage. Extraordinary mountain, golf course and lake views can be seen from almost every room of this single-level,...
New listings ranged in price from $135,000 for an upgraded studio at the St. Moritz condos complex up to $1,300,000 for a Craftsman style home in Old Mammoth located at 1 Creek Lane. This property is located on one of Mammoth’s most coveted neighborhoods, and backs to the Snowcreek Meadow Preserve and flowing creeks. The recently completed town bike trail system is connected by the new bridge at the Majestic Pines cul-de-sac over to the end of Waterford Street, which is where the Creek Lane property is located (corner of Waterford and Creek Lane). A summary of the new listings this past week include 1 duplex in the Sierra Valley Sites neighborhood, 2 single family homes, and the rest being condos. 
There were a total of 11 price reductions for the period, mostly in the condo sector of the Mammoth real estate market. Some of these noteworthy price reductions are: Mammoth West #106, 2-bedroom, 2-bath townhouse at the base of Canyon Lodge, which was reduced to $265,000, Meadowridge #12, remodeled 2-bedroom, 3-bath town house across the street from the Sierra Star golf course and .5 miles to the base of Eagle Express chairlift, was reduced down to $369,000, White Mountain Lodge #2421, 2-bedroom, 2-bath on the 4th floor in the Village at Mammoth was reduced down to $449,500,...