With the cold, dry air we’ve been experiencing recently, they’ve been busy blowing snow at both resorts and both sledding areas are ready to ride! Below are the Big Bear real estate stats for last month. With the strong rate of sales, inventory has dropped another 5% in the last 2 weeks and we are now down to only 556 active single family residence listings in the entire valley. The average sales price rose again in all of the areas that we track below. The average $/sqft also rose in all areas, with the exception of those right on and around the Lake. I believe that there are two reasons for this. First, as we’ve mentioned on several occasions, at this time of year, attention is drawn away from the Lake area (small number of sales) and focuses more toward the slopes (making it a great time of year to buy on and around the Lake). The second reason is that the two lakefronts that sold were a little unusual, one was on a VERY shallow section of the Lake and the other was in Papoose Bay, where vacation rentals are not allowed (prices up here are more or less directly related to rental potential).
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