Big Bear Real Estate July 17, 2014

June 2014 Big Bear Real Estate Stats/Fireworks Finale

Below are the June 2014 Big Bear Real Estate statistics.  Average $/sqft rose pretty significantly again in Big Bear City and Big Bear Lake, while staying relatively unchanged in the other areas that we track, with the exception of Fawnskin (which had only one “fixer-upper” sell last month). This continues a trend that we’ve been seeing for a while now, with people buying smaller and smaller homes for the same amount of money (thus increasing the $/sqft) because they are trying to stick to a certain budget (i.e., under $250K).  As the inventory declines in the lower price ranges (especially in Big Bear Lake), buyers are having to opt for smaller, older homes (that need more work) in order to stick to their budgets.  They are also having to look further from the resorts (where the rental potential is much lower) and that’s why the areas of Big Bear City and Sugarloaf have shown such large increases in the last 6 months.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 18 $206,738 $186.77  95%  82
BBL-general 10 $323,380 $224.62  97%  36
BBL-lakeview  5 $416,680 $220.12  97% 163
BBL-lakefront  3 $965,833 $537.69  97%  34
FAWN  1 $129,900 $131.21 100%   7
FOX  1 $310,000 $202.48  96% 259
MOON  8 $270,175 $204.98  98%  88
SUGA 12 $156,283 $152.17  98%  86
For those of you who missed it, here’s a link to the grand finale of the Big Bear Lake fireworks show.  As always, the show did not disappoint and whether you were on a boat or on the beach the spectacle was amazing!
Finally, here’s this week’s copy of “What’s Up at 7000ft”, with highlights including Aaron’s Big Bear Bass Fishing Tournament, the Doo Dah Parade in Fawnskin, and 80’s rock band “Berlin” (“You Take My Breath Away”) performing at the Cave.
Have a great rest of your week!