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February 2013 Big Bear Real Estate “Sold” and “Pending/Back-up” Lists and CA Market Update

Hi folks!
Below are the February 2013 lists for Big Bear Real Estate “Sold” and “Pending/Back-up” properties. As you can see, it was another strong month for both sales and escrows, especially given that February was such a short month. In addition, these numbers will go up in a few days because of the amount of time that agents have to update statuses for the month. Once again, the lower-end properties (under $250K) are selling en masse and very quickly. We listed one last week for $189.9K and had an accepted offer within 2 days!
88 Sold:
224 Pending/Back-up:
As we’ve been discussing for a while, inventory in Big Bear is down considerably from 2 years ago and prices are on the rise. This is not a “Big Bear-only” phenomenon, but is happening state-wide, as well. Below is a link to a graphic released today from the real estate web-site Movoto, showing the increase in prices and decrease in inventory across the state of CA.
Finally, below is this week’s “What’s Up at 7000ft”. Highlights this week include the “War of Rails Freestyle Event” at Bear Mtn, USASA Bordercross Competition at Snow Summit, and the annual “Moonshine and Mayhem” Chamber Fundraiser at the Convention Center.
Have a great weekend!