October 2018 Big Bear Real Estate Stats/Slopes Open Tomorrow!!

It’s that time of year already!  Snow Summit opens tomorrow and Bear Mountain is scheduled to open for weekends only until Dec.7th, starting next Friday.  Below are last month’s Big Bear real estate statistics.  It was a busy month for what is usually one of the slower months of the year, but keep in mind that most of the listings in October were for escrows that opened in September. As we get into the busy winter season, expect more sales closer to the slopes and less on the Lake.  Speaking of the Lake, there were two that sold last month at “lakeview” rather than “lakefront” prices because they were both very shallow-water lakefronts (one was about 60 yards from the water, at this point, and the other currently has no water in front of it).  Most owners of shallow-water lakefront aren’t selling now, with many of them waiting for the new Water Reclamation project that we first mentioned about 6 months ago to go into operation and start to stabilize lake levels.  That said, it could be a great time to pick up a shallow-water lakefront (if you can find one) and wait for the lake levels to go back up!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 33 $266,997 $227.57 98.05%  66
BBL 36 $386,222 $264.25 97.46%  93
BBL-Lakefront  2 $676,250 $309.77 88.18% 217
FAWN  1 $300,000 $170.07 92.31% 257
FAWN-Lakefront  0 NA NA NA NA
FOX  6 $770,833 $264.18 93.48% 162
MOON 13 $412,992 $244.11 97.84%  98
SUGA 19 $192,216 $216.90 97.18%  81

 

With Thanksgiving only a week away, here’s a link to a list of local restaurants that will be open on Thanksgiving Day, as well as local activities, including Santa’s entrance into the Village and the lighting of the Big Bear Lake Christmas Tree!!

 

Have a great weekend and fantastic holiday week!
Posted on November 15, 2018 at 11:46 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports, Regional News | Tagged , , , ,

September 2018 Big Bear Real Estate Stats/Live It Up this Weekend

With the beautiful color of changing leaves and our first dusting of snow at the higher elevations last weekend, it’s definitely beginning to feel like fall in Big Bear!  As we normally mention at this time of year, we are at the point where inventory is still relatively high (503 single-family residences in the Big Bear MLS) and activity drops off a bit because of school activities, so it’s usually a great time for buyers and really the last chance of the year to find a property and get it on the rental market before Thanksgiving.  There was a surprisingly high number of sales in Moonridge last month, with no sales on lakefronts, so it shows that buyers are already turning their attention towards the slopes.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 21 $265,173 $208.71 97.8%  65
BBL-general 21 $332,133 $285.90 97.8% 110
BBL-lakefront  0  N/A  N/A N/A N/A
FAWN-general  1 $229,000 $366.99 95.4% 235
FAWN-lalefront  0  N/A  N/A N/A N/A
FOX  5 $492,980 $283.36 98.0%  81
MOON 25 $391,976 $260.81 98.1%  66
SUGA 28 $180,055 $222.72 08.1%  67
Here’s a link to download this week’s edition of Live It.Up.  Highlights this weekend include the ongoing 48th Annual Big Bear Oktoberfest, the Flashlight Safari at the Zoo, and Haunted Hayrides at Bear (Scare) Valley Farms.
Have a great weekend and a Happy Halloween!!
Posted on October 17, 2018 at 11:08 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports, Regional News | Tagged , , , ,

August 2018 Big Bear Real Estate Stats/Hot Dawgz & Handrails

Hi folks,
Below are the Big Bear real estate numbers for the last full month of summer.  Even though summer is almost over, the market is remaining hot, with the busiest September we can remember in our 11 years as Realtors up here. They are always adding more events so that spring and fall aren’t as slow as they were went we first moved up here (Oktoberfest actually opened two weekends ago) and there’s still lots of excitement about the acquisition of our local resorts by Aspen/KSL, the IKON pass, lots of progress on the new Moonridge Zoo, etc.  As with last year, the inventory seems to have peaked around the second week of August and has started dropping already.  As of this morning, we are down about 5% already to 517 active single-family residence listings in the Big Bear MLS.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  21 $211,129 $219.87 97.84%  75
BBL  27 $432,308 $264.47 97.14% 142
BBL-Lakefront   0   N/A   N/A   N/A  N/A
FAWN   9 $276,500 $254.10 95.65%  98
FAWN-Lakefront   0   N/A   N/A   N/A  N/A
FOX   9 $524,667 $253.78 97.96% 134
MOON  19 $359,042 $257.27 97.97%  79
SUGA  21 $207,933 $200.60 98.27%  81

 

Here’s a link to download this week’s edition of “Live It UP” (formerly “What’s Up at 7000ft”).  This weekend’s highlights include Hot Dawgz & Handrails at Bear Mountain, the Big Bear Village Scarecrow Festival, and the ongoing 48th Annual Big Bear Oktoberfest!
Have a great week!!
Posted on September 19, 2018 at 10:08 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports, Regional News | Tagged , , , , ,

July 2018 Big Bear Real Estate Stats

Below are the monthly Big Bear real estate single family residence statistics for the month of July.  The inventory appears to have reached it’s peak for the year.  We were at 537 single family residences last Monday and 540 this Monday.  Since most sellers put their properties on the market at the beginning of the season, there are usually much fewer new listings in the latter half of summer.  At the same time last year, we had reached about 605 listings and then the announcement came that the sale of our local resorts to Aspen/KSL was completed and it really accelerated the normal seasonal drop in inventory, which was below 400 by October and remained historically low all winter.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC   31 $289,229 $223.04 98.36%  65
BBL-general   21 $400,729 $262.47 98.45% 108
BBL-Lakefront    1 $875,000 $852.00 97.23%  75
FAWN-general    0 N/A N/A N/A N/A
FAWN-Lakefront    1 $500,000 $513.35 83.47%  28
FOX    3 $554,933 $264.07 98.37% 203
MOON   16 $374,338 $269.26 98.93%  66
SUGA   11 $177,345 $232.64 99.06%  58
Here’s a link to download this week’s edition of “Live it Up”.  This week’s highlights include the Kodiak 100 Ultramarathon and the 35th Annual Wooden Boat Show!
Have a great week!!
Posted on August 14, 2018 at 10:18 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , ,

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 , , , , , ,

April 2018 Big Bear Real Estate Stats/YTD Price Break-down

With the summer season quickly approaching, I thought I would send out a quick breakdown of the properties that have sold so far, since the beginning of the year.  As usual, the vast majority of homes sold were in the $500K and under range.  That’s usually the range that most people are able to afford for a second home and if they are going for a conventional loan with 20% down, $575K is usually about their max. As you can see, there have only been ten properties sold over $1M (and only 3 over $1.25M); but the lakefront season hasn’t even begun yet, so that should change in the next couple of months.
Price (K)       #Sold
———-       ——-
250-               128
251-500         162
501-750           34
751-1000          9
1001-1250        7
1251-1500        1
1501-1750        1
1751-2000        1
2000+              0
Here are the Big Bear real estate single family statistics for the month of April.  As is usual, once the slopes close and until the summer season begins, the number of sales is lower; but prices continued to climb, with big jumps in the Big Bear Lake, Fox Farm, and Fawnskin areas, especially.
Area #Sales Avg.Sale Avg. $/sqft SP/LP DOM
BBC    30 $269,425 $215.74  98.94%  77
BBL     9 $494,050 $308.46  96.33% 166
BBL-Lakefront     0 N/A N/A N/A N/A
FAWN     2 $355,950 $245.12  96.56% 312
FAWN-Lakefront     0 N/A N/A N/A N/A
FOX     4 $703,750 $268.43  98.21%  53
MOON   10 $379,840 $272.67 100.35%  98
SUGA  11 $204,968 $198.47  98.34%  72

 

Finally, here’s this week’s edition of “What’s Up at 7000ft”, including the Spartan Races at Snow Summit, Opening Day of the Bear Mountain Golf course, and guitar legend, Dave Mason, appearing at the Cave.
Posted on May 17, 2018 at 10:10 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports, Regional News | Tagged , , , ,

March 2018 Big Bear Real Estate Stats/IKON Pass Sale ends 5/1

Hi folks!

Our local slopes have officially closed for the winter season (mountain biking season is just around the corner), but sales and prices remained strong in March, especially close to the slopes.

AREA #SALES AVG. SALES PRICE AVG. $/SQFT SP/LP DOM
BBC 23 $297,713 $225.30 97.6% 80
BBL 19 $416,600 $274.42 96.8% 139
BBL-LAKEFRONT 0 NA NA NA NA
FAWN 1 $200,000 $217.86 93.0% 251
FAWN-LAKEFRONT 1 $1,075,000 $561.36 93.5% 106
FOX 2 $627,500 $218.97 97.6% 58
MOON 28 $398,818 $260.87 99.7% 89
SUGA 13 $207,812 $220.55 100.1% 62

Even with the slopes closed, there is still plenty to do in Big Bear, with hiking, mountain biking, and fishing as just a few of the popular activities.

What’s Up 4-21-18

Finally, as part of the recent acquisition by Aspen/KSL, our local resorts are part of the IKON pass for the 2018/2109 season, which gives access to 26 resorts across the U.S. and Canada. The passes are currently being offered at $100 off, until May 1st!
IKON Pass Sale

Have a great week!

Joe and Ana Kovich
KELLER WILLIAMS/BIG BEAR TEAM REALTY
909-521-0330 phone
BRE lic.#’s 01380722/01827318
http://BigBearTeam.com

#1 Ranked Big Bear Lake Real Estate Agent on Yelp & #1 Top-Producing Team in Units at Keller Williams Big Bear/Lake Arrowhead

Check us Out on HGTV: Lakefront Bargain Hunt and Log Cabin Living

Posted on April 17, 2018 at 11:22 am
Joe Kovich | Category: Big Bear Real Estate

February 2018 Big Bear Real Estate Stats/”Screamin’ Deal” Passes on Sale!

Even with the low inventory, the sales machine keeps chugging along, with further increases in sales price, especially closer to the slopes.  As of this morning, the current inventory of single family residences in the Big Bear MLS still sits at only 286 homes on the market. This has lead to a lower total number of sales with quite a bit of pent-up demand, which is reflected in a relatively rapid sales pace when a properly-priced home hits the market and a high Sales Price/List Price ratio (over 100% in Big Bear City)!
Area #Sales Avg. Sales Price Avg. $/sqft SP/LP DOM
BBC 14 $288,071 $213.22 100.2% 122
BBL 13 $462,323 $262.88  98.2%  90
BBL-Lakefront  2 $880,000 $494.82  95.4% 159
FAWN  3 $279,967 $200.09  95.9% 181
FOX  8 $582,463 $247.82  96.1%  75
MOON  8 $354,188 $271.04  97.8% 108
SUGA  14 $179,857 $210.76  96.8% 100

 

2018/2019 season passes are on sale now at Bear Mountain and Snow Summit  This is always advertised as the best deal of the year because you get to ski or ride for the rest of this season, as well as get a low price for all of next season: http://www.bigbearmountainresort.com/season-passes.
Finally, here’s a link to this week’s edition of “What’s Up at 7000ft”/ This week’s highlights include “Bear Break
At Bear Mountain” and “Snow Tubing…Day or Night”.
Have a great rest of your week!
Posted on March 21, 2018 at 10:19 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Sellers, General Information, Marketing Reports | Tagged , , , ,

January 2018 Big Bear Real Estate Stats

We hope you’re having a great year so far!  Sorry we haven’t sent out any emails yet this year, but we’ve been in Hawaii for the last 6 weeks “tending to” some vacation rentals that we own out that way.  With the inventory being as low as it has been in Big Bear, we figured it was a good time to take some time away; but we sold all of our listings while we were gone (getting offers on all of them within 2-3 weeks of putting them on the market) and decided it was time to come back and list some more!  As you can probably tell, we are big believers in income properties (both full-time and vacation rentals), for the income potential, equity growth, and tax advantages.  Of course, vacation rentals have the added advantage of allowing the owner to enjoy personal use themselves, so we are all about letting renters/guests pay for your second (or third, or fourth, or fifth) home!
As I mentioned before, the inventory has been extremely low this winter (fluctuating between only about 250-275 single family residences in the entire valley), so the number of sales has been relatively lower, but the market has still been very active, with lots of multiple offers (we have personally had multiple offers on all of our listings this year).  Here are the stats for last month:
Area #Sales Avg.  Price Avg. $/sqft SP/LP DOM
BBC 19 $247,100 $203.42 98.42% 101
BBL 18 $415,022 $258.13 96.62%  93
BBL-Lakefront  0 N/A N/A N/A N/A
FAWN  0 N/A N/A N/A N/A
FAWN-Lakefront  0 N/A N/A N/A N/A
FOX  2 $512,450 $224.24 96.97% 198
MOON 18 $423,498 $244.40 97.21%  85
SUGA 11 $172,536 $215.61 98.11%  85
Posted on February 16, 2018 at 9:20 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Realty Professionals, For Sellers, General Information, Marketing Reports | Tagged , , , , ,

November 2017 Big Bear Real Estate Stats/Resorts Open this Weekend!!

Here are last month’s statistics for the Big Bear Real Estate market. The inventory has continued to drop and, as of this morning, there are only 309 Single Family Residences left on the market!  This is lower than we typically see even at the lowest point of the year (in Spring).  At this rate, I wouldn’t be surprised if it drops to double digits by the end of the season!  In addition, this year there is the possibility of the new tax reform plan and there are people buying in an attempt to get grandfathered in with higher interest deductions, as well as concerns about higher mortgage interest rates.  Below is an excerpt from an email that we received recently from one of our national lenders:
“You have likely heard that the current administration may be reforming the tax code. Reforms to the tax code will impact many aspects of our economy. It is unknown what the final plan will include or the exact impacts it will have, but one very likely consequence of the plan, as proposed today, will be increasing interest rates on Treasury Bonds caused by shifting economic conditions, and rebalancing of cash positions held in Treasuries in the global economy.

If interest rates on Treasury Bonds increase, then mortgage interest rates in the U.S. will also increase since mortgage rates are directly impacted by rates of U.S. Treasuries.”

Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 36   $255,674 $202.22 98.68% 106
BBL 25   $434,444 $252.02 98.21% 158
BBL-Lakefront  1 $1,020,000 $448.55 92.74% 187
FAWN  3   $224,667 $258.06 98.03% 359
FAWN-Lakefront  0 N/A N/A N/A N/A
FOX 15   $492,200 $258.04 97.50% 147
MOON 33   $310,263 $251.64 98.91%  84
SUGA 23   $196,235 $199.75 97.63%  98
Finally, the local resorts have been blowing snow all week and both Bear Mountain and Snow Summit are scheduled to open this Friday!
Posted on December 7, 2017 at 10:01 am
Joe Kovich | Category: Big Bear Real Estate, For Buyers, For Sellers, General Information, Marketing Reports, Regional News | Tagged , , , ,