As we come upon the unofficial last weekend of Summer up here (night-time temps are already dropping into the 30’s and Oktoberfest starts in one week!), sales continue to be very strong and the inventory has dropped further to 590 single-family residences. The inventory appears to have peaked for the year in August and typically starts dropping around this time (as sellers who start their “fishing” in the spring let their listings expire, if they haven’t sold, in preparation for the heavy winter rental season). Buyer activity also typically dips after Labor Day weekend until Thanksgiving, as kids go back to school and focus is diverted to football games, homecomings, homework, etc. That means that this is usually the best time of year to take advantage of the principle of “supply and demand” (inventory is still relatively high and buyers have relatively less competition) and it’s the last chance to purchase a property and get it ready to go for the winter rental season!
Here’s a link to the Labor Day weekend edition of “What’s Up at 7000ft”. This weekend’s highlights include the Fall Fest Arts & Crafts Show at the Big Bear Lake Convention Center, the “Cool Run In The Mountains” Car Show, and the last Free Fishing Day of the season (no license required).
Have a great holiday weekend!