Mammoth Market Trend Source: Mammoth Lakes MLS As of June 17, 2009		2007	2008	% change	2009
Condominiums:	Total # sold	281	204	-27.4%	102
	Average price	$648,831	$556,907	-14.2%	$406,841
	Inventory as of Feb	258	291		323
Single Family Residential:	Total # sold	42	43	0%	15
	Average price	$1,059,811	$1,093,350	3%	$978,733
	Inventory as of Feb	75	74		90
Lots:	Total # sold	21	6	-71.4%	4
	Average price	$626,023	$396,416	-36.7%	$406,000
	Inventory as of Feb	49	50		46

 

THE LATEST DEVELOPMENT INFORMATION

Mammoth Mountain Ski Area - The Village at Mammoth - Sierra Star - Eagle Lodge - Snowcreek

 

 

Who are the current owners of Mammoth Mountain Ski Area?

 

In late 2005, Starwood Capital Group, Global, LLC, purchased the majority interest of Mammoth Mountain Ski Area and additional real estate holdings from Intrawest and Dave McCoy-founder/operator of Mammoth Mountain Ski Area.  Barry Sternlicht, the chairman and CEO of Starwood Capital Group, Global, LLC was instrumental in the success of creating the W brand for the Westin Hotel, part of the luxury Starwood Hotel chain.  He has now formed his own real estate company that will compete with the luxury hotel market.  His plans for Mammoth include taking the town upscale with plans to build high-end luxury condo/hotels, attracting stylish new restaurants and boutique shops, along with world-class cultural events.  There are plans underway to build a new signature hotel, the "1" Hotel which Mr. Sternlicht hopes to position at the top of the ultra luxury hotel/condo market.

 

There are several other planned new developments:

 

The Village at Mammoth located on 61 acres at the north section of town (on Minaret Road past Whiskey Creek on the way to Main Lodge) is a pedestrian oriented village featuring a mix of restaurants and boutique shops with condominium units rising above the Village.  The Village Gondola provides a direct access to the ski slopes at Canyon Lodge.  The Westin condo/hotel consisting of 230 units is located across the street from the Village Gondola and there are several new developments planned for this area.  Ask me about units available in this prime location.

 

 

 

The Little Eagle area located next to Eagle Express, formerly the Chair 15 area, is another prime ski-in/ski-out location.  The Juniper Springs Lodge (pictured) is a full amenity condo/hotel development which includes an in-house coffee shop, meeting facilities, gym, swimming pool, and jacuzzi.  There are several other beautiful developments at this slopeside location.  A new base facility is in the planning stage of this highly desirable location. 

 

 

 

 

 

Snowcreek Resort has been a favorite of second homeowners and visitors alike.  The latest new townhomes available, The Lodges, are just finishing their final phase.  These very popular spacious townhomes, each with their own garage, are built with the utmost attention to detail.  The next new development, Creek House, has models open.  This could be your home away from home, without the hassle of maintenance and upkeep, since there is a homeowners association to take care of those items.  Call or e-mail me for availability.

 

 

 

 

Sierra Star, a planned community nestled on a championship 18 hole golf course (a par 71 course, Cal Olsen design) has several residential and condominium developments on the greens.  The golf course offers spectacular views of the high Sierra.  There are several new developments slated for this area which is located in the center of town.