Condominium median
$244,000
$351,302 in 2026 money
Mammoth Lakes in 2012
A condominium sold for a median of $244,000 — $351,302 in today’s money, 56% below where it stands now. The Mammoth Times ran 1 story we can still read.
Snowfall
263"
season total at the main lodge
Housing approved
4
residential units authorised
Lodging tax
$10,086,299
collected by the Town
What happened
- SnowMulti-year California drought
The prolonged 2012-2016 Sierra drought is repeatedly named as the main reason Mammoth values lagged the rest of California's post-crisis recovery.
Drought appears to be a stronger influence on Mammoth real estate values than big snow years
Paul Oster Broker Report → - Snow2011-12 driest winter on record
The 2011-12 season was among the driest with the lowest snowfall on record, gutting winter visitation during prime season.
my bet is the dry winter has impacted the market more than we will ever know
Paul Oster Broker Report → - Policy & taxScheduled 2013 capital gains increase pulls sales forward
Scheduled 2013 capital gains rate changes and the looming fiscal cliff prompted Mammoth owners with equity to sell before year-end 2012.
two owners (with equity) who are ready to dispose of property now because of the potential change in the capital gains treatment
Paul Oster Broker Report → - Town governmentTown enforces the nightly rental ban in residential zones
From late 2011 the Town began seriously enforcing its long-standing ordinance prohibiting nightly rentals in single-family residential zones, and collecting transient occupancy tax.
I am already seeing residential properties (single family) come to the market where owners had intended to rent nightly
Paul Oster Broker Report → - The mountainJune Mountain closed
Mammoth Mountain Ski Area shut down June Mountain in mid-2012 after 25 years of losses, triggering a June Lake community fight.
Meanwhile, the Ski Area has decided to pull the plug on June Mountain.
Paul Oster Broker Report → - Economy & ratesFederal Reserve QE3
The Fed announced a third round of quantitative easing in September 2012, targeting mortgage-backed securities.
The new QE3 policy should drop mortgage interest rates down even more. That’s great if you can qualify.
Paul Oster Broker Report → - Town governmentTown of Mammoth Lakes files for bankruptcy
The Town filed for Chapter 9 bankruptcy on July 3, 2012 in an attempt to deal with the Hot Creek airport judgment.
As expected the Town of Mammoth Lakes filed for bankruptcy on July 3
Paul Oster Broker Report →
What the paper was writing about
Headlines only, linked to the Mammoth Times. We read the Internet Archive’s copies and cite the paper; the words are theirs.
The ground
17 recorded earthquakes of magnitude 2.5 or greater in the Long Valley Caldera, the largest at M3.1.