Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationListingsMarketing Reports January 9, 2022

December 2021 Big Bear Real Estate Statistics/Inventory by Price

Happy New Year!
Well, we survived another holiday season up here in Big Bear!  With Christmas and New Year’s Day both being on weekends and with some fresh snow thrown in-between for good measure, it was extra crazy up here this year, but that was great for vacation rental owners and other businesses, of course!  It’s only the beginning of the winter season and we are down to only 51 single family residences left for sale in the Big Bear MLS!! Remember when we thought that 62 was insanely low last February?  I wouldn’t be surprised if we hit teens or even single digits by the end of the season, so there has never been a better time to sell (for non-Lakefront properties); but for buyers, hopefully there will be some relief (however small) in the Spring.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  32   $518,213 $366.86 103.5%  60
BBL-general  19   $708,147 $425.67 101.6%  77
BBL-Lakefront   3 $2,345,667 $501.07  94.4% 215
FAWN-general   4   $578,000 $325.10  98.6%  95
FAWN-Lakefront   1 $1,150,000 $396.01  95.8% 302
FOX   6   $886,583 $475.84 103.5%  55
MOON 15   $638,053 $476.54 104.0%  49
SUGA 11   $373,752 $361.27 101.5%  50
With the current inventory already being down to a historic low of 51 single family residences, I thought it might be interesting to look at the inventory as a function of price.  Keep in mind that most savvy sellers don’t list lakefronts in the winter (see how low the avg. $/sqft are, compared to summer), so the top price bracket is lower than might be expected and anything under $450k is going to be more in the areas outside of the City of Big Bear Lake (Sugarloaf, Baldwin Lake, Erwin Lake, etc.).
List price           #on market
————–      ————–
$2M+                     2
$1.5-1.999M           5
$1-1.499M              7
$900k-1M               4
$800-899k              3
$700-799k              6
$600-699k              4
$500-599k              4
$400-499k              7
$300-399k              5
$250-300k              4
Have a great week!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports December 5, 2021

November 2021 Big Bear Real Estate Stats/Opening Day for the Resorts!

Sales remain very strong, even with the single family residence inventory already down to only 81 properties in the Big Bear MLS.  That’s already almost down to the 62-property historic low that we reached in February of this year.  For reference, that’s only about a 1/2 month supply and we would normally be around 500 properties at this time of year!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  45   $471,713 $367.30 101.8%  56
BBL-general  20   $696,425 $437.88 101.3%  44
BBL-Lakefront   2 $1,912,500 $629.33  97.5% 143
FAWN-general   6   $651,067 $354.86  98.2%  42
FAWN-Lakefront   0      NA   NA   NA  NA
FOX  11   $751,298 $406.98 102.4%  42
MOON  39   $657,606 $445.01 100.6%  58
SUGA  17   $340,400 $341.29  98.9%  68
Finally, this past Friday (Dec. 3rd) was opening Day for both Snow Summit and Bear Mountain, so we’ll see you on the slopes!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports October 18, 2021

September 2021 Big Bear Real Estate Stats/Inventory

With our first dusting of snow already last week, we are well into the fall season already.  Besides snow, nothing shows that more than our already plummeting inventory.  While inventory normally drops during the fall and winter, we are already down to only 134 active single family residences in the Big Bear MLS! That number should be around 500 at this time of year and usually only drops as low as 300 at the tail end of winter.  In addition, we had 141 single-family residences sold last month, so we are currently just under a 1-month supply!  Below are the sales stats for the month of September.
Area #Sales Avg. Sale Avg.$/sqft SP/LP DOM
BBC  37   $490,932 $354.93 101.1% 60
BBL-general  29   $663,213 $429.00 101.4% 43
BBL-Lakefront   3 $1,380,000 $727.20  97.1% 61
FAWN-general   2    $615,000 $351.00  98.8% 63
FAWN-Lakefront   1 $2,040,000 $822.91  97.1% 47
FOX 10    $871,100 $397.00  99.2% 62
MOON 22    $682,955 $428.44 100.9% 55
SUGA 24    $314,179 $349.89 100.3% 41
Have a great week!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor Sellers August 21, 2021

June 2021 Big Bear Real Estate Stats

It was another busy 4th of July weekend, with lots of visitors and buyers on the mountain.  June sales were strong again, with more month-over-month price increases, but the “4th of July rush” finally put us over 200 homes on the market (209) in the Big Bear MLS, for the first time in almost a year.  We are still less than half of where we should be at this time of year, but if the inventory follows normal trends, it should increase a bit more for about 30 more days, then start to go back down again after mid-August.  We usually hit about 600 properties at the peak in mid-August, but I think we will be lucky to get up to 275 this year.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  49 $434,994 $344.75 103.27%  38
BBL-general  28 $682,218 $436.16 100.81%  46
BBL-Lakefront   0  NA  NA  NA  NA
FAWN-general   6 $479,317 $325.64 104.79% 55
FAWN-Lakefront   1 $727,789 $437.37 107.82%   6
FOX   4 $837,500 $344.56 101.34% 42
MOON  38 $642,379 $433.08 101.99% 45
SUGA  25 $333,476 $355.20 101.59% 44
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationListingsRegional News April 9, 2021

March 2021 Big Bear Real Estate Stats

Well, another winter season has come to an end (probably the busiest ever for sales and rentals) and things seem to be returning to some sort of normalcy.  The Big Bear Real Estate inventory has almost doubled in the past 6 weeks (from 62 to 122 Single Family residences), but it’s still only about 1/4 to 1/3 of where it should be at this time of year.  Still, we seem to be experiencing a bit of the regular “Spring surge” in inventory; so hopefully (for buyers at least) that will tamp down some of the crazy multiple offer situations and bidding wars that we have seen over the last 6-8 months. For sellers, the inventory is still historically very low, but ordinarily climbs through-out the Spring and Summer, so getting your cabin on the market as soon as possible would make sense to take advantage of what is still record-low inventory. The number of sales for March remained very high and prices increased again almost across the board.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 38   $522,845 $334.89 105.45% 54
BBL-general 21   $705,586 $424.12 105.17% 57
BBL-Lakefront  4 $1,073,725 $668.04 101.81% 88
FAWN-general  1   $345,000 $210.24  92.00% 159
FAWN-Lakefront  1 $2,500,000 $455.71  96.19% 79
FOX  7   $739,143 $325.77 105.86% 36
MOON 30   $589,483 $442.33 108.81% 40
SUGA 21   $383,914 $346.98 106.54% 30
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports January 11, 2021

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!

Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports October 27, 2020

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!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationListingsMarketing ReportsRegional News September 14, 2020

August 2020 Big Bear Real Estate Statistics/Oktoberest Opens this Weekend!

With this crazy summer almost behind us, sales continue at a record pace and the inventory has dropped another 13% from last month to only 146 active single-family residences in the Big Bear MLS!  New properties are still coming on the market, but the inventory is selling faster than it is being replenished; so with the inventory normally starting to drop at this time of year anyways, it’s anyone’s guess as to just how low it will be by the end of Fall/beginning of Winter.  Speaking of Fall, Oktoberfest opens already this coming weekend, but with outdoor-only seating, advance reservations are required.
Area #Sales Avg. Price Avg/ $/sqft SP/LP DOM
BBC 53   $336,743 $262.14 100.6%  87
BBL 40   $522,505 $294.44  98.7% 118
BBL-Lakefront  7 $1,630,575 $400.39  97.5% 183
FAWN  7   $341,400 $235.06 100.8%  75
FAWN-Lakefront  0      NA   NA   NA  NA
FOX 14   $649,393 $283.07  98.6% 139
MOON 52   $502,308 $285.33  99.0% 104
SUGA 30   $219,944 $255.71 100.1%  63
Have a great week!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports July 8, 2020

June 2020 Big Bear Real Estate Stats and Sold/Active by Price Point

It was another busy weekend up here for 4th of July, but a little less crowded than expected (less “day-trippers”), because the fireworks got postponed until later in the year.  The inventory remains historically low (down another 20% from last month) at only 276 single family residences (SFR’s) in the Big Bear MLS as of this morning!!  As usual, most people are still looking under $400K, with the vast majority of sales being in that category; but the inventory is just the reverse, with only 96 up to $400K, 103 from $400-800K, and 81 at $800K+.  From January 1st to July 1st, there were a total of 492 sold SFR’s, with 348 sold under $400K, 117 from $400-800K, and only 28 total from $800K+. For the “resort areas” (Big Bear Lake, Moonridge, and Fox Farm), here is a breakdown of sold properties by price, since the beginning of the year, as of June 23rd:

Price Range    #Sales
————-     ——–
100-200K          5
200-299K         34
300-399K         49
400-499K         37
500-599K         19
600-699K         13
700-799K         10  (incl. 2 Lakefronts)
800-899K         10  (incl. 1 Lakefront)
900-999K           3
1000-1099K       0
1100-1199K       1  (Lakefront)
1200-1299K       0
1300-1399K       0
1400-1499K       1
1500-1599K       2  (both Lakefronts)
1600-1699K       0
1700-1799K       2  (incl. 1 Lakefront)
1800-1899K       1
1900-1999K       0
2000-2499K       0
2500-2999K       2  (incl. 1 Lakefront)
3000K+             2  (both Lakefronts)
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 38   $324,695 $239.05  99.2%  89
BBL 24   $434,596 $284.21  98.2%  87
BBL-Lakefront  3 $2,067,000 $471.72  95.0% 140
FAWN  4   $340,750 $263.74  97.7% 105
FAWN-Lakefront  1   $610,000 $405.59 101.8%   5
FOX  5   $719,200 $286.47  97.6% 127
MOON 24   $406,938 $301.13  97.7% 103
SUGA 29   $189,562 $229.79 98.4% 107
Have a great week!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationListings June 15, 2020

May 2020 Big Bear Real Estate Stats/Big Bear Top Airbnb Destination!!

Lots has changed since our last monthly stats email!  They started allowing vacation rentals to operate again on May 15th and most companies are reporting back-to-back rentals for the next several months.  We knew that there would be pent-up demand (both of buyers and renters who were tired of being locked up at home for 2 months), but even I was surprised by the numbers!  Every weekend has felt like a holiday weekend (this past weekend felt like 4th of July already) and the supply of houses is having a hard time keeping up with the demand.  I think there is a combination of reasons for that: first, many buyers don’t want to get stuck without a “place in the mountains” for the next “apocalypse” (even those who have been searching for years, but afraid to pull the trigger); second, interest rates are incredibly low right now, making homes more affordable, even as prices continue to rise; and third, the inventory is the lowest we can ever remember at this time of year (we are currently seeing inventory numbers that we normally only see at the depths of winter), leading to multiple offers (in some cases, as many as 10-14, when a house is priced well)!!  Finally, another factor that is harder to quantify, is that more owners seem reluctant to sell now, as they don’t want to lose their own “escape to the mountains” (even when rentals were not allowed, many second homeowners were spending a lot of time at their own cabins, especially those like our niece, who live in condos or apartments in Santa Monica and the other more congested areas of Southern CA).  As of this morning, there are only 335 single-family residences active on the market in the Big Bear MLS (which is almost 10% less than last month, at a time of year when the inventory is usually growing rapidly) and 204 in escrow (almost double what we had last month already)!!!  As usual, homes under $400K sell the fastest, since more people seem to be able to afford that price range; but, even with everything going on in the world, there were 3 Lakefronts that sold last month and another 7 currently in escrow!!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 11   $297,843 $256.58  98.0% 123
BBL  8   $385,125 $313.12 100.2%  79
BBL-Lakefront  3 $1,585,529 $571.77  95.7% 220
FAWN  0   NA   NA   NA  NA
FAWN-Lakefront  0   NA   NA   NA  NA
FOX  1   $392,000 $268.86  98.0%  53
MOON  9   $383,944 $266.13  96.0% 217
SUGA 14   $204,207 $211.18  95.4%  80
Finally, as we discussed last month, drive-to-destinations and private home rentals (versus hotels, where you share a lobby, elevator, pool, etc. with thousands of other people) are expected to be even more popular for the foreseeable future.  In fact, Big Bear Lake is currently one of the top destinations for Airbnb, so it’s a fantastic time to own a rental cabin!!
Have a great week!