March 2012 Big Bear Real Estate “Sold” and “Pending/Contingent” lists

Hi folks,
It’s already time for the monthly lists of “sold” and “pending/contingent” lists  for the very quick month of March.  As you can see, there were 90 “sold” properties and another 204 that are either “pending” or “contingent”.
Sold:
Pending/Contingent:
This brings our total inventory of single family residences for sale in the entire Big Bear MLS down to only 538.  In fact, there are only 254 in the resort area of Big Bear Lake (92315) and only 7 of those are bank-owned! This is very much inline with what we are seeing on a statewide level.  From the article below, you can see that the over-all inventory in CA is quite low (only 5.3 months worth of properties on the market) and that February sales were up 5.5% from the previous year.

 

According to the article, there also seems to finally be signs of price stabilization in CA:”This may be a signal of a possible stabilization in home prices, which should bode well for prospective buyers who have been on the sidelines waiting for prices to level out and may entice them to jump into the market.”…”February sales posted a stronger than usual performance with sales in major metropolitan areas such as Los Angeles, Orange County, San Diego, and San Francisco all logging double-digit gains from the previous year,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Recent encouraging signs in the GDP, employment picture, and consumer confidence suggest that a growing economy is in the making. All this, combined with continued-low mortgage rates, lays out a good foundation for the housing market to continue to grow as we enter the spring home buying season.”   In fact, the median sales price has actually INCREASED from the previous year in the over-all National Real Estate market.

 Here’s another article from CNN Money which specifically refers to sales of Investment and Vacation Homes:
Have a great week!
Posted on April 1, 2012 at 2:13 pm
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Sellers, General Information, Marketing Reports | Tagged , , ,

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