Here are last month’s single family residence statistics for the Big Bear area. As usual for the last month of winter, the emphasis was closer to the slopes and the $/sqft in Moonridge jumped to almost $260/sqft! There were 4 shallow-water lakefronts that sold (great news, since that particular sub-category hasn’t moved much until the Lake went up 5-6ft this winter); but that is why the BBL-lakefront category was a little lower than usual and Fawnskin was higher than usual.
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As you probably heard, Aspen/KSL opened escrow to buy Mammoth Resorts last week, which means our local resorts are going to be part of the Aspen family! This is HUGE news for anyone invested in or thinking about investing in Big Bear real estate. The growth over the last two years since Mammoth bought our local resorts has been impressive, but this could be game-changing! I attended the town hall meeting at Bear Mountain last night and they are expecting the escrow to take about 4 months. In the meantime, they are planning on continuing expansion and increasing summer activities, including the new zipline, which they are expecting to open Memorial Day weekend. As noted by Rusty Gregory, chairman and CEO of Mammoth Resorts, in the article below “We already had an aggressive capital improvement plan [for the two San Bernardino resorts, and] as the newly formed organization is fine-tuned, that investment plan could accelerate”.
Have a fantastic weekend!!