Monthly Archives: March 2018

Inventory Increase Coming?

Inventory “Should” Increase between Spring Break and 4th of July

[Update on 5/28/18: The inventory increase is HERE!  Scroll to bottom to see the stats]

[Original article from March 30, 2018:] We know you are frustrated, buyers!  You want buy something in Mammoth but do not currently have many choices.  Our inventory is at a 14-year low (only 52 condos for sale as of today!) so there is only one or maybe two listings that fit your criteria.  Plus, many listings are kept on a nightly rental program and, therefore, are rented and unavailable when you are in town to look at them!

However, we are hopeful that we have the typical increase in inventory this time of year as rental income from the ski season starts to dry up and would-be sellers are more ready to list.

Between the months of April and July during the years 2010-2016, we have seen an average of a 30% increase in the number of condos for sale.  See graph below:

Condo Inventory by Month pic

 

Last year (2017) was a bit of an aberration (inventory went down 24% from spring to summer) because Mammoth announced it was being purchased by KSL in April, plus we were just digging out from an amazing snow year, which both helped kick off a buying spree.

Let’s hope we get back to the same spring bump in inventory and get our choices up to at least 70 condo listings (hopefully 90!) by summertime.

While you buyers are trying to be patient, we know you are also watching interest rates with keen interest.  We are working hard to uncover listings before they get listed and position our buyers to be ready to pounce when something does fit the bill.  We are often running up to a new listing to take a 360 deg video so our buyers can analyze it from home (typically in Southern California).  Let us know how we can help you find your Mammoth getaway!  -Dennis

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Update as of April 24, 2018: We now have 59 condos for sale, so inventory is slowly creeping upwards as predicted.

Single Family Homes: In the last 5 years, our single family home inventory swelled an average of 43% between May and August.  With snow melting and daffodils popping up, would-be sellers are tending their gardens and doing projects to get homes ready for market.

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Update as of May 28, 2018: We now have 80 condos for sale!  That is a 54% increase from a little over 8 weeks ago.  Buyers now have a lot more to choose from and sellers better beware of more competition on the market.  Historically, we still have low inventory: the average number of condos on the market over the last 15 years is 140.

As for single family homes, we have not had our seasonal increase in inventory yet.  We are still at 34 Homes for sale, the same as one month ago.

Mammoth Lofts

Mammoth Lofts are a small condo complex of only 8 units at 436 Old Mammoth Rd. in Mammoth Lakes, CA.  All units are studio + loft floorplans built in 2004 with monthly HOA dues around $295 (as of 2018).  They’ve got a cool downtown industrial loft vibe and some good views.  However, half are apparently deed-restricted (for affordable housing purposes) and nightly rentals are not allowed at the complex.  Although the zoning allows for nightly rentals, the CC&R’s do not.  The sizes range from 575 – 715 sqft.

Sales Extremes (2004-2018):
Low: $109,500 in 2012
High: $345,000 in 2007

Click here to see all active Conestoga listings (if any)
Click here to see a map of the Conestoga complex

mammoth lofts