As winter is wrapping up and we get closer to Spring and the closure of the ski resorts for the season, the inventory has ticked up a little bit to 78 single family properties in the Big Bear MLS. This is still only about 25% of where it should be at this time of year, but it seems to be following the regular trend, since it’s about half of where we were at the peak last summer. Interest rates have also ticked up a bit to about 3% for a 30-year mortgage, but that number is still also historically extremely low. The record low inventory and interest rates are continuing the trend of a very heated sellers market, with multiple offers being the norm and the Sales Price to List Price ratio (SP/LP) being over 100% in almost every area that we track. Hopefully the inventory will continue to go up a bit through the Spring, but it looks like it’s going to be a long time before it returns to normal levels.
|Area||#Sales||Avg. Sale||Avg. $/sqft||SP/LP||DOM|