Big Bear Lake Trends over last 5 years

I ran some stats this morning to answer a question for a client regarding the price of   lakefronts vs. other properties.   I used the Big Bear Lake (92315) zip only (BLC,BLW, and BLE) and broke the sales over the last 5 years into lakefronts, lakeviews, and others.   This includes all properties that have sold in the Big Bear MLS (new, resales, bank-owned, and short sales), but not fractional ownerships:8/1/2010-8/1/2011:

Prop. type # Sales Avg. Sale Price Avg. $/sqft
Lakefront 19 $1,021,128 $383.47
Lakeview 38 $405,188 $200.18
Other 108 $257,097 $170.91

8/1/2009-8/1/2010:

Prop. Type # Sales Avg. Sale Avg. $/sqft
Lakefront 15 $1,062,576 $387.84
Lakeview 33 $408,978 $202.93
Other 153 $264,128 $180.19

8/1/2008-8/1/2009:

Prop. Type # Sales Avg. Sale Avg. $/sqft
Lakefront 17 $1,466,805 $557.29
Lakeview 46 $422,198 $235.33
Other 86 $320,230 $204.44

8/1/2007-8/1/2008:

Prop. Type # Sales Avg. Sale Avg. $/sqft
Lakefront 15 $1,188,333 $499.88
Lakeview 36 $500,709 $284.29
Other 65 $342,175 $250.96

8/1/2006-8/1/2007:

Prop. Type # Sales Avg. Sale Avg. $/sqft
Lakefront 23 $1,534,215 $591.68
Lakeview 48 $577,215 $325.49
Other 65 $430,955 $286.70

 

As you can see, the number of lakefronts and lakeviews sold over the last 5 years has not varied greatly, but the number of “others” has increased greatly since the peak of the market.   There are always a certain number of people who can afford the premium of being right on the water (I lived on the west side for several years and I relate it to being in Santa Monica right on the ocean, vs, having an ocean view, vs. being somewhere around 20th St. – they are all in Santa Monica, but the prices vary wildly); but now a lot more of the “ordinary guy” can afford a second home and the numbers definitely reflect that.   I was originally going to do this for 3 years, but the results were so interesting that I decided to go all the way to the peak of the market.   Avg. prices and Avg. $/sqft definitely had their biggest drop between 2007-2009 and have remained relatively flat for the last 2 years.   You can see more of these types of stats in the blog section of our web-site https://bigbearteam.com.

Posted on August 1, 2011 at 12:10 pm
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Sellers, General Information | Tagged

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