May 2018 Big Bear Real Estate Stats/Exciting Happenings around the Valley

As we rapidly approach the beginning of our summer selling season (usually right around the 4th of July), here are the Big Bear single-family residence stats for last month.  As of this morning, the Big Bear MLS residential inventory is at 474 active properties on the market.  As usual, many sellers put their houses on the market in the Spring with a 6-month listing (often just to see what they can get – I call them “zillow-make-me-move sellers”); so the inventory is always highest in the summer (meaning the most choices for buyers) and lowest at the end of winter. I also wanted to fill you in on some really exciting news from the Big Bear Visitor Bureau meeting that we attended last month.  We had several different speakers from the zoo, resorts, and MWD talking about future expansion and improvement plans.  In addition to getting an over-lay of what is going to be a beautiful new zoo by a former curator of the San Diego zoo (scheduled to open later this year), as well as plans for a fish hatchery right on Big Bear Lake, one of the most exciting announcements was about the joint BBARWA/MWD ground-water sustainability project, which will help to provide more stable lake levels, as well as keeping our groundwater levels at peak capacity.  I know this may seem like something strange to be excited about, but as any of us who live close to the Lake would know, the Lake levels can fluctuate greatly with the drought cycle, evaporation, water usage from the resorts for snow-making purposes, etc.  This is a 43M project that will involve releasing recycled water back into the ground and into the Lake (which actually has lower TDS requirements than into the ground) on the east end of Stanfield Marsh (Baker’s Pond).  This will keep Baker’s Pond always full of water and supply the Lake to a level always within 3-7.5ft of full!!  That’s huge news for anyone owning shallow-water lakefront properties (which in drought years, has meant no-water in the past).  Most owners of shallow-water lakefronts haven’t even been trying to sell the last couple of years because of the low prices they would get.  For example, there was one that sold last month that was on the market for 566 days and sold for only $263/sqft!  The new plant/project is expected to go online within 3-5 years and the water level goals are within 10 years after that, so it’s a long-term sustainability project; but should have huge long-lasting impacts on the water fowl conservation area in Baker’s Pond, conservation of protected species like the sickleback fish, and most importantly (for real estate purposes, at least) values of shallow-water lakefront properties and homes in areas like Bear Loop.
Area #Sales Avg. Sales Price Avg. $/sqft SP/LP DOM
BBC  30 $269,730 $229.38  98.7%  88
BBL  21 $501,979 $287.02  98.5%  69
BBL-LAKEFRONT   2 $872,000 $335.33  95.3% 332
FAWN   1 $215,000 $466.38  98.2% 113
FAWN-LAKEFRONT   0 N/A N/A N/A N/A
FOX   7 $431,429 $228.94  96.8%  69
MOON 24 $381,025 $269.51  98.6%  66
SUGA 13 $203,781 $226.24 101.5%  50
Finally, here’s a link to download the Big Bear Events calendar for the Summer season.  Besides the “Fishin’ for $50K” tournament and Village Wine Walk this weekend, there’s one of the best fireworks shows in Southern CA on 4th of July, the Renaissance Faire, Chili Cook-off, Tour de Big Bear bike race, Ted Nugent, Everclear, and Puddle of Mudd performing at the Cave, and MUCH, MUCH, MORE!!
Posted on June 8, 2018 at 11:04 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Sellers, General Information | Tagged , , , , , ,

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