May 2016 Big Bear Real Estate Stats/Happy 4th of July!!

Below are last month’s statistics for single-family homes sold in the Big Bear area.  As you can see, the average $/sqft was up again pretty much across the board.  This would be even more so, if you were to include the cabin on Willow Landing (which was across the street from the Lake, but had a boat dock) as “Lakeview”, which would bring the average for “Lakeview” up to almost $300/sqft and for “Lakefront” to over $800/sqft).  The SP/LP ratio increased as well, meaning that homes are selling closer and closer to the asking price! This is just the beginning of summer and sales are expected to heat up even more, especially with the recent large drop in mortgage interest rates tied to “brexit” (who ever thought that the United Kingdom leaving the EU would make it cheaper to afford a second home in Big Bear)?!?
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 26 $224,475 $192.50 97% 100
BBL-general 15 $338,193 $247.25 98%  58
BBL-lakeview  4 $412,250 $260.12 97%  65
BBL-lakefront  3 $894,300 $717.10 99%  28
FAWN  3 $339,666 $203.13 97% 115
FOX  6 $490,350 $221.70 97% 119
MOON  7 $399,471 $239.22 97% 126
SUGA  9 $139,006 $152.91 100%  93
Below are links to both this weekend’s edition of “What’s Up at 7000ft”, as well as a list of places to watch Big Bear’s Fireworks Show (always one of the best in CA)!!  As always, we’ll be on the beach at “The Boathouse”, if you want to stop by and say “hello”! There are lots of other events planned for the Independence Day weekend, including fairs, craft shows, and a free fishing day on Saturday (no license required).  And, just in case you missed it, HGTV is re-airing our Big Bear Lake episode as part of their “Lakefront Bargain Hunt” marathon on the 4th of July!
Have a fantastic, safe holiday weekend!!
Posted on June 29, 2016 at 7:55 pm
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *