We hope everyone is enjoying the last full month of summer and that you’re getting plenty of time to enjoy the Lake before the kids go back to school!  The summer selling season is in full swing up here with another 135 properties sold last month and an additional 218 Pending/Back-up (in escrow).  The month-over-month sales prices are up again, also.  In the zip code encompassing Big Bear Lake (92315) the median sales price for Single Family Residences was up to $305K (from $293K in June) and the average sales price was up to $389,584 (vs. $321,418 in June).  That’s an increase of more than 21%; but that’s why I don’t like focusing on average or median sales price.  In an area as small as Big Bear Lake (there were 33 total SFR’s that sold in June and 44 in July), the spikes and troughs can have huge variations, depending on what kind/size of properties sold that month.  That’s why I prefer to look at the average $/sqft, which (while not perfect) gives a much smoother curve and I think a better picture of what is really taking place over time.  Looking at the average $/sqft graph from Trulia below, you can see that the average $/sqft has been more or less climbing steadily since the end of 2011/beginning of 2012 to today; which makes for an arguably more healthy market versus huge price increases.

135 Sold:
XPROP – Multi Row View

218 Pending/Back-up (in escrow):

Finally, here’s a link to this week’s “What’s Up at 7000ft”.  This weekend’s highlights include the Big Bear Antique Car Club Show and the 14th Annual Big Bear Renaissance Faire!

Have a great weekend!