December 2020 Big Bear Real Estate Stats

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!!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 42  $357,269 $261.52 100.3%  51
BBL-general 20  $679,768 $353.20 100.5%  58
BBL-Lakefront  4 $1,575,500 $532.45  96.5% 299
FAWN-general  4  $376,700 $319.38  99.9%  73
FAWN-Lakefront  1 $2,350,000 $474.56  88.7% 210
FOX 18  $854,228 $317.15 100.7%  50
MOON 28  $481,928 $358.40 105.0%  34
SUGA 20  $259,925 $282.60 103.6%  36

 

Have a great week!

Posted on January 11, 2021 at 2:50 pm
Joe & Ana Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , , ,

November 2020 Big Bear Real Estate Stats

We are coming into the final stretch of 2020, with the second home market remaining incredibly hot.  Prices continue to rise and almost all areas are selling at a little over asking price on average.  The largest problem we are having in terms of sales right now is the ridiculously low inventory.  We are down to only about 90 single family residences for sale in the Big Bear MLS in the entire valley (for perspective, this number usually only gets as low as about 300 – and that’s at the very end of winter, when inventory is always at its lowest).  If you are buying, be prepared for competition, but if you have been thinking of selling, I can’t think of a better time in the last 14+ years!!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 49   $331,518 $288.24 103.2%  43
BBL 32   $632,181 $336.31 100.6%  80
BBL-Lakefront  9 $1,972,944 $576.33  97.6% 440
FAWN  5   $348,000 $297.66  99.4% 162
FAWN-Lakefront  0   NA   NA   NA  NA
FOX 13   $886,577 $301.63 100.2%  57
MOON 40   $508,062 $343.65 102.6%  42
SUGA 28   $254,804 $269.31 103.0%  41
Have a Merry Christmas and Happy Holidays!!
Posted on December 13, 2020 at 2:16 pm
Joe & Ana Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , , , ,

October 2020 Big Bear Real Estate Stats/Opening Day for Snow Summit!!

Activity remains very high in the Big Bear Real Estate market, especially after we received a little over a foot of snow this past weekend and Snow Summit is scheduled to open on November 20th. In addition, the tubing areas are scheduled to open on November 14th and Bear Mountain on November 27th. As I always mention at this tine of year, it’s the last chance to purchase a property and rent or use yourselves before the winter season officially begins! Sales in October remained at a very high level, with huge increases in both average sales price and average $/sqft for Big Bear City, Big Bear Lake, Fox Farm, and Moonridge.  Also, all areas that we track sold at over 100% of asking price, on average, except for Lakefronts (and even they were at 99.1%)!! The inventory remains incredibly low at only 114 active single-family residences in the Big Bear MLS (that’s about 75% lower than we usually are at this time of year)!
Area #Sales Avg.Sale Avg.$/sqft SP/LP DOM
BBC 40   $347,832 $272.37 102.9%  67
BBL 38   $648,454 $315.24 100.8%  84
BBL-Lakefront 11 $1,432,364 $487.48  99.1%  81
FAWN  6   $498,333 $277.49 107.3% 139
FAWN-Lakefront  0      NA   NA   NA  NA
FOX 16   $775,916 $308.90 103.2%  60
MOON 38   $530,846 $340.41 103.0%  39
SUGA 22   $263,359 $259.65 104.4%  38
Posted on November 10, 2020 at 12:53 pm
Joe & Ana Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information

September 2020 Big Bear Real Estate Stats

It was another huge month for Big Bear real estate sales, with a total of 247 single family residences sold.  For the first time that we can remember, the average sales price was over asking price in the majority of the areas that we track and the single-family residence inventory is at only about 110 properties in the Big Bear MLS (and expected to continue to decline through-out the fall and winter).
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC   48   $331,427 $257.34 101.56%   60
BBL-general   62   $606,926 $304.55 100.51%   61
BBL-Lakefront   10 $1,967,117 $569.74  96.73% 168
FAWN-general    6   $571,067 $286.83  98.80% 102
FAWN-Lakefront    1   $975,000 $445.21  97.50% 227
FOX   15   $702,067 $282.81 100.59%   84
MOON   46   $489,007 $306.16 101.67%   49
SUGA   37   $255,325 $247.02 101.24%   67
Have a great week!
Posted on October 27, 2020 at 10:21 am
Joe & Ana Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , ,