elow are the single family residence sales stats for the Big Bear area last month. We definitely saw an increase in sales activity compared to the last 12 months, but there are still 546 single family residences for sale in the Big Bear MLS , which puts us at almost a 9-month inventory, which is good news for buyers, since there are lots of choices out there and most are selling for 3-4% under asking. In BBL-general, the average days on market was 6 months, with several homes selling that were on the market since last year. There were a lot of cash buyers last month and we were really hoping the FED would lower interest rates, so that more buyers would jump into the market that need loans, but it looks like that most likely won’t happen until September, now. Again, this is good news for buyers that do want to take advantage of the higher inventory and less competition. There’s also a silver lining for sellers, though, as inventory hasn’t really risen significantly since May and usually peaks out right around this time each year. At 546 SFR’s for sale, we are right about where the end of summer inventory normally was pre-pandemic.
Area
# Sales
Avg. Sale
Avg./sqft
SP/LP
DOM
BBC
21
$395,805
$347.58
97.36%
74
BBL-general
8
$815,000
$391.69
94.08%
180
BBL-Lakefront
3
$1,216,667
$600.30
101.93%
90
FAWN-general
2
$755,000
$449.50
97.24%
39
FAWN-Lakefront
0
NA
NA
NA
NA
FOX
3
$1,446,666
$363.64
97.3%
62
MOON
11
$684,227
$412.29
96.69%
107
SUGA
5
$310,600
$380.32
100.18%
73
Have a great weekend and enjoy the beautiful weather and Car Show, if you’re up here in Big Bear!