July 2017 Big Bear Real Estate Stats/Aspen Acquisition Finalized!!

Hi folks!

Here are the monthly stats for Big Bear real estate for the month of July. Sales prices continue to rise and are expected to do so even more, especially with the recent purchase of our local resorts by Aspen/KSL.  Below is a link to an interesting graph from Trulia, which shows that, in Big Bear Lake (92315), the median sales price is now up approximately 60-65% from the bottom of the market in 2011. If you click on “All Properties”and “Max Years”, it will give you a graph all the way back to 2000, which shows the build-up of prices to the past peak in 2006/2007, as well as the drop to the bottom in 2011/2012.  As always, you need to look at the trend line, rather than individual months/quarters because median sales prices can fluctuate considerably from month to month, especially in 92315, where you have cabins under $200K, all the way up to $4M, so the trend is much more accurate than any individual month or quarter.   Also, this time of year is usually the peak inventory (as all summer listings are on the market and people haven’t taken any off for the fall/winter yet), so this time of year always has the most choices for the buyer.  Two years ago the inventory got up around 700 single-family residences, last year it got up to around 620, and this year it’s at only 510 and appears to be starting to go down already (mostly because of increased market activity, it seems).
Area
#Sales
Avg. Sale
Avg/ $/sqft
SP/LP
DOM
BBC
  36
  $264,122
$190.07
 97.61%
127
BBL-general
  16
  $346,718 $245.17
 99.65%
 96
BBL-lakeview
   3
  $572,967
$314.17
100.75%
 57
BBL-lakefront
   1
$1,530,000
$571.32 95.69%
 56
FAWN
   4
  $218,750
$228.44 96.26%
150
FOX
   6
  $461,583
$226.67  96.86%
 88
MOON
 23
 $314,839$253.76
 97.23%
 79
SUGA
 22
 $217,273
$190.56
 99.01%
 64
Finally, here are links to two recent events/projects which have been and are expected to continue to drive price increases in Big Bear Lake, especially in the Moonridge area.  The purchase by Aspen is especially exciting.  Given the price increases since the Mammoth purchase was announced 3 years ago and the infrastructure improvements that were completed by Mammoth (as well as the increased visitors – very important for vacation rentals and local businesses), it will be exciting to see how the influx of capital from Aspen/KSL continues to drive these increases.  At the town hall meeting that was held in April, the Mammoth CEO stated that the influx from Aspen is expected to increase the speed of their planned improvements, which should only lead to increased demand and visitors!!  The new hiking and biking trail project also includes plan to make the Moonridge Corridor more of a “Second Village” area, with turnabouts, bike lanes, and a divider to make the area more pedestrian- and business-friendly.  As anyone who has been to the Village on a weekend during the ski/snowboard season over the last couple of years will understand, this should help to “spread the visitors out” a bit during our busiest times of the year.
Have a great week!

June 2017 Big Bear Real Estate Stats/What’s Up this Weekend

As summer kicks into full gear, we are currently at 538 Single family residences on the market.  Last month, there were a total of 147 sold properties and another 207 in escrow (Pending/Back-up).  As prices continue to rise closer to the Lake and slopes, the more distant areas are increasing even more, with Big Bear City averaging more than $200/sqft and even Sugarloaf at almost $200/sqft!!  As usual, the larger the home, the lower the $/sqft (land value comes less into play), so that explains why the average $/sqft for BBL-lakeview and Fox Farm appear lower, even though the average sale prices increased significantly in those categories.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC34  $255,928$208.17 98.93% 90
BBL-general18  $383,861$245.30 97.43%119
BBL-lakeview 7  $577,224$241.35 94.71%106
BBL-Lakefront 1$1,350,000$469.73100.00% 10
FAWN 2  $183,000$267.52 96.52%  9
FOX 5  $735,980$215.42 95.47%130
MOON25  $359,896$253.38 96.96% 99
SUGA12  $169,200$196.64 99.16% 74
Finally, here’s a link to this week’s edition of “What’s Up at 7000ft”.  This week’s highlights include the Crafts & Cranks Brewfest at Snow Summit, Colin Hay of “Men at Work” at the Cave, and the Spirits Of The West
Brewfest at the Big Bear Convention Center.

May 2017 Big Bear Real Estate Stats/New MLS auto-emails

Here are last month’s Big Bear Real Estate statistics.  Sales continued strong for the last full month of Spring and the average $/sqft remained elevated in Big Bear Lake and Moonridge following the Aspen and Rathbun Creek/Moonridge Redevelopment project announcements.
Area#SalesAvg. SaleAvg.$/sqftSP/LPDOM
BBC30$235,298$193.3399.5% 87
BBL-general17$378,322$251.8495.0%115
BBL-lakeview 1$314,400$291.6595.3% 38
BBL-Lakefront 0N/AN/AN/AN/A
FAWN 2$226,575$186.1897.9% 74
FOX 9$439,600$206.4797.9% 87
MOON29$350,148$245.4697.5%125
SUGA21$171,369$173.7097.8% 99
As most of you know, the Big Bear Board of Realtors changed MLS providers in January and we’re still going through some growing pains.  Some auto-emails were disabled recently because they exceeded 250 search results.  I called the Board office and they agreed to increase the max. to 500, so we hopefully won’t have the problem again, unless someone’s search is overly-broad.  Still, the searches that had to be manually re-enabled need to have the “Welcome Email” opened again by the client; so if you have stopped receiving the automatic listing emails, please let us know and we will either send the “Welcome Email” out to you again or set up a new search.
Have a great week!

April 2017 “Sold” and “Pending/Back-up” Properties Lists/Happy Mother’s Day!!

Hi folks!
After receiving our annual “Mother’s Day snow” this past Sunday (the early May/late season snow that we receive almost every year), the weather is warming back up to match the housing market.  Late April was unseasonably warm (both the weather and the market).  Part of this appears to be caused by the increasing pace of the housing market, but some it can also be attributed to the mid-April announcement that our local resorts (and Mammoth) are being purchased by Aspen, which has created a lot of buzz about future appreciation and improvements.  Over-all, there were over 300 properties sold or in escrow for the month of April!!

Here’s a link to the Mother’s Day Weekend edition of What’s Up at 7000ft.  This weekend’s highlights include several Mother’s Day Brunches, Baldwin Lake Ecological Reserve Guided Wildflower Walks, and “Queen Nation: A Tribute to Queen” at The Cave.  For next week, don’t forget the May 19th Time trial for Amgen’s Tour of California Bike Race.

Have a great weekend and a fantastic Mother’s Day!!

March 2017 Big Bear Real Estate Stats/Aspen Acquisition!!

Hi folks!
Here are last month’s single family residence statistics for the Big Bear area.  As usual for the last month of winter, the emphasis was closer to the slopes and the $/sqft in Moonridge jumped to almost $260/sqft! There were 4 shallow-water lakefronts that sold (great news, since that particular sub-category hasn’t moved much until the Lake went up 5-6ft this winter); but that is why the BBL-lakefront category was a little lower than usual and Fawnskin was higher than usual.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC34$254,854$189.3698.0%121
BBL-general15$292,467$223.5896.5%130
BBL-lakeview 2$774,950$247.5597.5%227
BBL-lakefront 3$686,667$388.2294.5%261
FAWN 2$342,500$290.6793.0% 45
FOX10$557,700$207.4394.5%162
MOON16$358,081$257.0998.5%130
SUGA15$201,960$171.7397.2% 99
As you probably heard, Aspen/KSL opened escrow to buy Mammoth Resorts last week, which means our local resorts are going to be part of the Aspen family!  This is HUGE news for anyone invested in or thinking about investing in Big Bear real estate.  The growth over the last two years since Mammoth bought our local resorts has been impressive, but this could be game-changing! I attended the town hall meeting at Bear Mountain last night and they are expecting the escrow to take about 4 months.  In the meantime, they are planning on continuing expansion and increasing summer activities, including the new zipline, which they are expecting to open Memorial Day weekend. As noted by Rusty Gregory, chairman and CEO of Mammoth Resorts, in the article below “We already had an aggressive capital improvement plan [for the two San Bernardino resorts, and] as the newly formed organization is fine-tuned, that investment plan could accelerate”.

Bear Mountain, Snow Summit ski resorts purchased by joint venture in a 4-resort deal

Have a fantastic weekend!!

March 2017 Big Bear “Sold” and “Pending” Properties/HGTV Link

Hi folks!
Here are last month’s lists of “sold” and “pending/back-up” properties.  Sales in the first month of Spring continued to be very strong and were especially high, given the historically low inventory.   In total, there were over 300 properties either sold or in escrow!
If you didn’t have a chance to watch our latest episode of HGTV’s “Log Cabin Living”, here’s a link where it can be viewed on Youtube for only $1.99.  The crew did a fantastic job of showcasing the cabins, as well as our beautiful town and Village!
Have a great weekend!

February 2017 Big Bear Stats/Moonridge Improvement Project/New HGTV Show

Here are the Big Bear real estate stats for February 2017.  Although it was a short month, the number of sales remained relatively high.  As usually happens at this time of year, there were significantly more sales closer to the slopes than closer to the Lake (the $/sqft on the one lakeview property was considerably lower than normal because it was a very large home – almost 5000sqft).
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC21$288,532$193.5496.5% 74
BBL-general14$427,402$231.3796.0%116
BBL-lakeview 1$799,900$168.97100% 60
BBL-lakefront N/A N/A N/A N/AN/A
FAWN 2$220,000$148.5691.8%190
FOX 2$422,500$223.5198.6% 34
MOON14$381,986$232.7197.6% 54
SUGA 8$155,050$156.6196.6% 83
As many of you know, there are a lot of very exciting planned improvements in the Moonridge area, in addition to Mammoth’s plans for the resorts.  Here’s the most updated info on the scheduled improvements in Moonridge, including the improvements along the Moonrdige corridor and the new Rathbun Creek Hiking and Biking Trail.
Finally, we recently filmed another HGTV show in Big Bear Lake and it is airing this Saturday, March 18th.   Here’s more information on the episode, which airs at 8:30pm PST on Dish Network, but at different times on DirecTV and cable, so please check your local listings for tune-in times:
Have a great week!

January 2017 Big Bear “Sold” and “Pending/Back-up” Properties/NEW SEARCH FORMAT

January officially went down as the snowiest January on record up here (surpassing the previous record in 1979) and the record snow has brought record crowds.  That’s not great news for traffic, but it’s fantastic news for vacation rentals, the lake level (up 30″ already!), real estate sales, and prices.  Last month there were 100 properties sold and another 166 in escrow.  That brings us down to less than a 4-month supply with only 322 Single Family residences left on the market!!  That’s the lowest number we have seen in at least 10 years!!! Below is the latest average sales price graph for Big Bear Lake going back 10 years.  The last 12 months have shown a significant increase in average sales price and an approximately 11% year-over-year increase in median sales price.  At this point, we’re a little over half-way back between the bottom of the market in 2011 and peak prices in 2006-2007.

Matrix stats

As I mentioned in my previous email, Big Bear recently changed MLS providers and, in order to prevent any appearance of spam, buyers need to click on the original “Welcome email” or they will not receive additional listing emails.  In addition, you need to click on listings at least once every 90 days (we got them to increase that from 30, at least), in order to keep your search active.  If you have not seen the new “Welcome to the Portal” email or if you have stopped receiving listings, please check your “junk” or “spam” folder to make sure that they didn’t go there.  You might also want to add *.matrixemailer.com to your safe sender list to avoid Matrix emails from being caught in spam. If you still don’t see them, please let us know and we will make sure to re-send the welcome email manually.

December 2016 Big Bear Real Estate Stats/New MLS

We made it through another holiday weekend and, so far, it’s been the busiest winter season we can remember up here!  Between the changes made by Mammoth and the great snowfall we’ve gotten so far (not to mention the additional 2-4ft we’re supposed to get by next Tuesday) the number of visitors has dramatically increased.  More visitors always bring more business and there were 123 sales last month and another 170 in escrow.  A large number of those sales occurred closer to the slopes and the average $/sqft in Moonridge jumped to over $250/sqft!!
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC26$254,189$184.4098%114
BBL-general12$296,625$235.9097%123
BBL-lakeview 4$443,250$251.78100%236
BBL-Lakefront 1$852,000$562.17 92%185
FAWN 4$211,000$195.80 90% 79
FOX 4$693,750$245.35 97%376
MOON29$331,665$251.26 97% 97
SUGA16$157,537$172.54 97% 97
The Board of Realtors up here just changed MLS providers, so you may have noticed that you either stopped getting search results or are getting them in a different format,  This new MLS has a lot more restrictions (number of clients, number of results, number of auto emails, etc); so if you are no longer getting results or you would like us to tweak your search, please let us know.  In addition, to avoid spam, this new MLS requires the client to open the first “Welcome to the Portal” email and to log in at least once every 30 days or it automatically discontinues your search.  There are definitely going to be some growing pains for all the realtors up here when it comes to this new MLS, so please don’t hesitate if you want us to re-activate your search or make any changes.  In addition, there are some nice improvements, like market updates and a new link where you can do your own searches at any time:  http://bigbearrealestate.bbv.mlsmatrix.com
 
Have a great weekend!!

November 2016 Big Bear Stats/What’s Up for Christmas Weekend

Hi folks!
We got a little fresh snow this weekend and the resorts are already packed!  As always happens at this time of year, the number of sales increases around the ski resorts and drops off closer to the Lake.  In addition, the inventory has dropped to only 426 single family residences already, so it’s on track to reach a record low by the end of the winter season.  Just a quick heads-up that the Big Bear MLS is in the process of transition to a new provider and contacts/searches are in the process of being migrated over, so if anyone’s searches stop sending out emails in the next couple of weeks, please give us a call or email, in case we need to manually re-add any that don’t get switched over automatically.
Area#SalesAvg. SaleAvg. $/sqftSP/LPDOM
BBC28$232,886$191.3598%92
BBL-general15$307,966$213.9096%124
BBL-lakeview 2$722,500$213.2094%139
BBL-Lakefront 2$993,500$370.6091%481
FAWN 1$725,000$205.5096%172
FOX 7$488,671$215.4098%123
MOON27$321,544$210.9797%117
SUGA19$172,752$165.2596%129
Here’s a link to this week’s “What’s Up at 7000ft”, which includes several Christmas/Santa-related activities, along with businesses and restaurants open on Christmas Day
Have a very Merry Christmas and Happy Holidays!!