|
September 9- A steady and busy summer of real estate activity is
winding down and local Realtors are preparing for the usual
pre-winter push for properties. The four uppermost thoughts in this
broker's mind are prices, inventory, gondola and airport.
The prices continue to rise in some market segments and other
market segments appear to be on the verge of increases. The local
condominium inventory has been worked over with the low-end remaining
very active. If we scrub out the Intrawest new and resales there are
less than 90 condominiums on the market with the majority of the
inventory in the $200 to $300,000 price range. The $300 to $400,000
price range has seen increased activity in the last couple of months
but there are still some good buys remaining. That is one sector that
is on the verge of a bump in prices. There is almost nothing on the
market under $200,000 and the availability above $430,000 is very
slim. There is almost nothing on the market in Snowcreek Phases 4 and
5 and recent sales are certainly seeing an upward trend in prices
there. All of that is good for Snowcreek who is grading the pads for
construction of Phase 6 next summer between the golf course and the
Catholic church.
Sales of residential homes has been a little flatter the past
couple of months but the lowest price home in Mammoth today is
$365,000. The market under $600,000 has some nice buys but there are
many over priced, less than quality homes listed that really need to
come down in price. The winter and spring push on homes got some
sellers a little aggressive on pricing. However, the inventory does
remain on the low side with available, ready-to-move-in-to homes at
around 55. Prices on vacant lots remain high and inventory is low.
There are currently a couple of good buys under $300,000. We have had
several sales of lots in the $800,000 price range in the past few
months. Recent sales of lots in Crowley's Sierra Springs subdivision
shows those lot values have doubled in the past year.
The really impressive things in Mammoth today is the
construction of the North Village gondola. All of the towers are up
and the preliminary cable is strung. The new gondola related
buildings are under construction at both the Village and Canyon
Lodge. Gondola cars can be seen in the Canyon Lodge parking lot.
Barring some disaster, it sure looks like this gondola should be
running by winter. The winter visitors are going to be very surprised
and most local real estate professionals are anticipating a surge in
interest when people see this. The first two Village buildings are
really taking shape. Check out the photos on this website.
The news from the airport is also very exciting. The airport has received their grant monies/credit line from the FAA and various contractors have been on site the past couple of weeks putting bids together for major construction projects scheduled for next summer. Stay tuned.
Meanwhile, the town of Mammoth has never looked better.
Highway 203 and Main Street have been completely repaved with new
gutters, drainage, etc. Numerous roads in town have been repaved.
Several commercial complexes, including the Post Office, have
received major face-lifts. Several new commercial buildings are under
construction. Old Mammoth Road is preparing for a major make-over.
Single family construction continues throughout town. The
construction of the middle school and college buildings is well
underway with completion of both scheduled in the next six months.
And on and on...
After a brief bout of cold weather it looks like things are
going to get nice again for late summer and fall as Mammoth looks
towards an exciting winter with a gondola coming right into the heart
of town!
|
