Big Bear Real Estate June 18, 2014

May 2014 Big Bear Real Estate Stats/Expected Price Increases

Hi folks!
Here are the Big Bear Real Estate stats for the month of May.  As of today, there are 279 single family homes listed for sale in the Big Bear Lake (92315) area.  As prices increase, the number of properties in the lowest price range is decreasing and there are only 5 properties left under $150K in Big Bear Lake.  At this point, about half the listings are above $450K and the other half below.  We’ll send out the quarterly stats from Trulia next month; but according to the economists at Zillow, Big Bear Lake home values have gone up 12.7% over the past year and Zillow predicts they will rise 9.5% within the next year. (Big Bear City home values have gone up 13.5% over the past year and Zillow predicts they will rise 10.6% within the next year).  This means that a $500K home today would be $550K next year (an extra $200/month or so in mortgage payment at current rates).
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 15   $238,394 $151.28 97%  96
BBL-general  5   $272,000 $186.05 97%  66
BBL-lakeview  7   $336,857 $243.03 93%  57
BBL-lakefront  3 $1,467,666 $549.13 95% 194
FAWN  2   $231,500 $163.76 88% 276
FOX  6   $458,150 $203.80 97% 143
MOON 10   $293,050 $202.61 95%  97
SUGA  8   $128,562 $157.51 97%  55
Here’s the breakdown of Big Bear Lake inventory by price range, with links to the actual property listings in those ranges:

Have a great week and don’t forget to make your Big Bear reservations for the best fireworks show in Southern California on the 4th of July!