For decades, mammoth lakes has been a bit of a hidden jewel tucked away in central California, between Yosemite and Sequoia national parks, a tough-to-reach stepsister to more celebrated Lake Tahoe. Spurred on by the recent debut of Horizon Air flights into the area, Mammoth and its majestic mountain are poised to lure big numbers of snow-season fans from around the U.S. and abroad. This is particularly true because a trek to Mammoth—most often undertaken by nature-lovers in the greater Los Angeles area—no longer means five hours–plus in a car and, in winter, highway conditions that can halt a family road trip in a few snowflakes flat.

"Besides being a tremendously beautiful place with lovely wooded areas and scenic lakes, Mammoth for Southern Californians has always had the added appeal of being closer to home than most other ski destinations," says John McMonigle, founder of Newport Beach, Calif.–based real estate giant McMonigle Group, which has nearly $50 million in luxury listings in the Mammoth area. "Much of the recent investment, both in residential and commercial sectors, is due to the anticipation of economic growth provided by direct commercial flights."

Those lured to Mammoth who might otherwise consider the Lake Tahoe area are in for a nice surprise. Although its sun-and-snow neighbor to the north offers preposterously blue Lake Tahoe as a backdrop, Mammoth parries with jagged peaks reminiscent of Wyoming’s Tetons as well as a higher overall elevation—nearly 8,000 feet in town, and over 11,000 feet at the summit of Mammoth Mountain ski area—that helps turn typical "Sierra cement" (water-logged snowflakes) into fluffier stuff usually found on peaks a few states to the east.

While the town of Mammoth Lakes continues to grow and change, offering more upscale shopping and dining in the process, much of the retreat’s appeal remains its tranquil, somewhat hidden vibe. That’s long made it a popular second-home spot, again largely for residents hailing from San Diego to Santa Barbara who are looking to add some seasonal flair to their endless-summer lives.

On the starter end of the market are condos such as the ones offered at Snowcreek Resort, a 449-acre spread that features creeks, ponds, and plenty of open space, yet is still in town. "We have generations of families here, each one upgrading within Snowcreek as they move on in life," says Julie Wright, managing broker at the Snowcreek Property Company (www.snowcreekproperty.com). "We are a year-round resort with everything from great fishing to great skiing. As second-home places go, it’s just great living."

Snowcreek’s one-bedroom, 900-square-foot condos start around $350,000 and top out with three-bedroom, 3,400-square-foot "lodges" for just over $2 million. "The only choices really are the type of flooring; the rest we outfit with top-of-the-line products," says Wright.

Sliding up the scale into single-family homes, one finds a market that ranges from $2 million to a hair under $10 million. "In this range, you’re looking at around 3,800 to 7,000 square feet, with the expected finishes—exceptional millwork and workmanship, granite countertops, top-of-the-line appliances," says Trish Dunlap, a longtime Mammoth resident and broker with Mammoth Realty Group (www.mammothrealtygroup.com), an exclusive affiliate of Christie’s Great Estates. Dunlap adds that now is a good time to buy, especially if you are buying for the right reasons."People buy in Mammoth for the lifestyle," explains Dunlap. "And they are purchasing legacy homes—multigenerational homes that the whole family can enjoy together before going back to the craziness of the city. In that sense, Mammoth still offers a bargain, considering the quality of the homes and the location."

Whether $10 million is ever a bargain is relative, but that sum will buy the best of what Mammoth currently has to offer. One particular $9.9 million beauty boasts 7,000 square feet of rustic elegance that is a cross between an epic Works Progress Administration lodge from a century ago and a five-star resort of today. "We’re big on timber and log exteriors matched with state-of-the-art interior fixtures and electronics," says the home’s builder, Tom Rosaasen, whose clients often include people looking for their "eighth or ninth home somewhere in the world." Highlights include two master suites, a gourmet kitchen, 120-inch movie screen, and jaw-dropping mountain views.

"It’s truly turn-key, high-end living," says Rosaasen, who can lay claim to building most of Mammoth’s luxury homes. "But the best thing about being here really is the outdoors. Whether you’re here for the snow or rivers, we’ve got 300-plus days of sunshine. When all is said and done, I have a feeling Mammoth will become a major U.S. destination."

FACTS & STATS

CATCHING AIR: Once accessible solely by car or private jet, the central California ski area is now welcoming Horizon Air (sister company to Alaska Air: 800.252.7522, www.alaskaair.com) flights into its Mammoth Yosemite Airport and out of Los Angeles International Airport—a hub for the majority of the area’s visitors. Fares start around $79 each way for daily flights departing LAX at 2:20 p.m. and returning to LAX at 5:10 p.m. during the winter sports season (through April 12). For those who prefer to pile the family in a car, Mammoth remains a good five-hour drive from the greater L.A. area, a trek that in winter is always subject to weather conditions.

GETTING COZY: The best way to get a feel for Mammoth’s alpine vibe is to stay within its Village, home to a variety of hotels, including the Westin Monache Resort (888.627.8154, www.mammothmonache.com), which also offers vacation ownership options. For a completely different Mammoth experience, consider the rustic Tamarack Lodge. Located just outside of town, the Tamarack Lodge has 19 miles of groomed cross-country ski trails (760.934.2442, www.tamaracklodge.com).

DIVERSIONS: Keep on top of whatever activities are being organized in town by visiting www.villageatmammoth.com; while your best source for everything from weather to all-season fun can be found at Mammoth Lakes’ offices (888.466.2666), www.visitmammoth.com.