The Big Bear real estate market remains insanely hot, with the active single family residence inventory in the Big Bear MLS down to only 65 properties!! The lowest that anyone can remember that number being in at least the last 15 years was 250, so we are currently about 75% under that! With such low inventory, competition remains very high, with most properties getting multiple offers and selling above asking price. As we’ve discussed before, one of the reasons that the inventory is so low is that rental demand is the highest anyone up here can remember and vacation rental properties are having their best year ever, so sellers are much less likely to sell. We’re all hoping that the inventory will edge up a bit in the Spring, but if it follows its normal trajectory, it will most likely continue to drop for at least two more months and I wouldn’t be surprised if it hits the teens or even single digits by the end of March/beginning of April!!
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Have a great week!