Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral Information November 4, 2014

October 2014 Big Bear “Sold” and “Pending/Back-up” Properties/Inventory Drops to 5-month Supply!

Here are last month’s lists of Big Bear’s “Sold” and “Pending/Back-up” properties .  The numbers are up again and so many single-family residences sold last month that we are down to less than a 5-month supply!  In fact, our inventory has dropped almost 20% in just the last 6 weeks! I believe there are two main reasons for this.  The first is the regular seasonal drop that we see at this time of year, when “speculators” who put their houses on the market every Spring take them off the market to be able to devote fully to the heavy winter renting season.  The second is the excitement caused by the Mammoth purchase and the anticipated price increases.  In fact, looking at just single family residences, there were 119 that sold last month!  With only 583 SFR’s left on the market, that puts us at under a 5-month supply.  As I stated when he had a similar occurrence two years ago (just before prices really started going up); low supply and high demand are the economic basis for rising prices.
145 Sold:
198 Pending/Back-up:
With our first snowfall last weekend, people are starting to think about the holidays up here.  Every year, our local Big Bear Board of Realtors holds a “Christmas CanTree” charity auction dinner. The event is held at Northwoods resort and tickets are $40/person, including dinner, wine, dancing, and auctions.  Some of the auction prizes this year include a season pass to Bear Mtn/Snow Summit, a signed Gale Sayers Chicago Bears jersey, and two adult tickets to Disneyland, with dinner at Club 33 (Disney’s private club in New Orleans Square).  If anyone is interested in attending to support this wonderful local charity, here’s a link to the invitation flyer: