Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports April 24, 2020

March 2020 Big Bear Real Estate Stats

We hope everyone had a great week, either safe at home or at their cabin with the family!  With all the craziness of the past few weeks, we have seen more and more people escaping to their cabins in the mountains.  You have probably seen the articles about residents of big cities fleeing to the mountains and deserts (especially apartment/condo-dwellers who have been stuck inside with the spouse, kids, dogs, etc. and nowhere to go outside).  In the beginning of the lockdown, we were actually seeing more and more rentals (even after the slopes closed), with almost every rental occupied as we drove around.  They finally came out and announced “no more vacation rentals until the end of the month”, so only owners have been allowed to come up to their cabins, which we have seen much more of than usual (and for longer stays, since many people are working remotely). There have also been a lot more requests for rentals of 1-3 months from people wanting to escape the cites and have a yard for the kids/dogs to play in. Still, with hotels closed and no vacation rentals for the last couple of weeks, it has definitely been quieter around town than usual and the number of showings has been down because of it; so even though the number of sales was still relatively high in March (mostly escrows that opened in January and February), we will expect that number to be considerably lower in April (although, with people feeling more and more cooped up, we had several showings this weekend and received 3 buyer requests within the last 24hrs just from one of our online sources). On a brighter note, depending on where you are in the Big Bear Valley, we received about 2-3 ft of snow last week (we are already almost 3ft above the seasonal average) and the Lake is filling up nicely (especially since the slopes haven’t been using its water to make snow); so it should be a fantastic boating season, when people are finally allowed to leave their houses!!
Below are the monthly Big Bear Real Estate stats for March.  As mentioned previously, sales remained strong for the last month of winter, with average $/sqft up in all areas that we track, with the exception of Sugarloaf and the one small Lakefront.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  28 $283,516 $232.86 97.6%  98
BBL  21 $409,300 $296.74 98.4%  81
BBL-Lakefront  1 $798,000 $445.81 99.9%  53
FAWN  2 $407,500 $221.82 96.6% 138
FAWN-Lakefront  0 NA NA NA NA
FOX  7 $666,486 $264.74 96.5% 129
MOON 18 $414,118 $290.48 95.8%  98
SUGA 15 $197,067 $214.70 98.4% 123
Have a great, safe weekend!!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing ReportsRegional News March 17, 2020

February 2020 Big Bear Real Estate Stats/Big Announcement!!

Hi folks!
Below are the monthly Big Bear real estate stats for February. The average sales price was up big-time across the board from our last stats for December!! The inventory has gone down slightly in the Big Bear MLS from 337 single-family residences (does not include condos or vacant land) in January to 327 now.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 18   $304,817 $226.88 96.2% 87
BBL 17   $513,324 $266.26 98.1% 154
BBL-Lakefront  1 $2,950,000 $636.36 94.9% 245
FAWN  0 NA NA NA NA
FAWN-Lakefront  0 NA NA NA NA
FOX  6   $655,383 $247.08 99.1%  96
MOON 17   $537,532 $275.28 96.6% 118
SUGA 18   $204,011 $232.54 97.4%  96

I’m excited to finally be able to announce a project that I’ve been working on for the last couple of months! I have accepted the position as Principal Broker of California for VACASA Real Estate.  With approximately 25,000 units managed, VACASA is the largest vacation rental management company in North America and should be largest in the world by the end of this year. VACASA started getting into the real estate world about two years ago and is focusing primarily on vacation rental markets. Because of that, we have unparalleled access to vacation rental histories, vacation rental market trends, and an inventory of homes that are already income-producing vacation rentals. Having both vacation rental and real estate divisions really sets VACASA apart from other national real estate firms and allows a synergy for both homeowners and buyers.  Our agents are licensed to buy and sell properties anywhere in California, of course, but we are going to be focusing on resort areas where we have a lot of short-term vacation rental properties, such as Big Bear, Palm Springs, San Diego, Lake Tahoe, etc.  Besides the exposure in the vacation rental industry, our VACASA listings will all be listed on our national website (along with cap rates for investors), in multiple boards and MLS’ throughout the state (including Big Bear and the CRMLS for maximum exposure), and include free 3D Matterport photography (something that no other brokerage in Big Bear is offering)!!  We already have a great team onboard in Big Bear that did over $50M in sales just last year, so please reach out if you are ready to buy or sell!!

Have a great week!!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersListingsMarketing Reports January 14, 2020

December 2019 Big Bear Real Estate Stats/Top 10 Places in US to Buy a Vacation Rental

Hi folks!
Below are last month’s Big Bear real estate stats for single-family residences.  As you can see, we finished off the decade on a high note, with a relatively large number of sales, especially for  a holiday month. With the large number of sales, this morning’s inventory is down to only 337 properties! As we come up on Martin Luther King weekend, I thought i would share an article on the top 10 locations in the U.S. to buy a vacation rental investment property this winter (spolier alert: Big Bear is #10; although, I think that if they had combined Big Bear Lake and Big Bear City into one area, we would have been higher)!

Best places to buy a winter vacation home 2019–2020

Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  21 $270,990 $219.34 97.0% 141
BBL-general  29 $427,451 $283.61 97.4% 112
BBL-Lakefront   0   NA  NA  NA  NA
FAWN   2 $243,000 $204,900 87.5% 125
FAWN   0   NA  NA  NA  NA
FOX   5 $526,880 $270.11 96.9% 166
MOON  20 $388,190 $281.30 97.6%  90
SUGA  13 $219,423 $210.28 97.7%  64

Have a great week!

Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral Information December 21, 2019

November 2019 Big Bear Real Estate Stats

It’s been a very snowy start to the ski/snowboard season so far!  We have already received almost half the annual season average for snowfall (and winter has just begun)!!  All the precipitation has slowed down showings a bit, but sales remained fairly strong for the usually slower month of November.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  16 $311,494 $210.17  97.5% 112
BBL  28 $420,593 $256.73  96.2%  91
BBL-Lakefront   1 $895,000 $559.03 100.0%  82
FAWN   4 $367,200 $230.30  97.6%  62
FAWN-Lakefront   0   NA  NA  NA  NA
FOX   8 $480,625 $288.76  97.4% 101
MOON  19 $382,842 $274.12  99.0%  97
SUGA  15 $208,565 $213.35  95.6% 119
Have a Merry Christmas and Happy Holidays!!
Big Bear Real EstateFor BuyersFor SellersGeneral InformationListingsMarketing Reports November 13, 2019

October 2019 Big Bear Real Estate Stats

With only two weeks left until Thanksgiving, our inventory is down to 482 single-family residences.  That is down about 20% already from the annual peak in August and another 10% from last month. As normally happens at this time of year, the inventory will continue to drop through the fall and winter and usually bottoms out at the end of the winter season.  Below are last month’s Big Bear Real Estate statistics.

Area
#Sales
Avg. Sale
Avg. $/sqft
SP/LP
DOM
BBC
30
 $335,490$221.51 94.0%
111
BBL
29
 $450,776$264.60 97.7%
126
BBL-Lakefront
 1
$1,955,000$523.01 98.0%
 49
FAWN
 7
 $327,643$226.33 93.8%
134
FAWN-Lakefront
 1
 $467,000$375.10101.5%
 47
FOX
13
 $477,500$277.37 97.5%
 84
MOON
20
 $428,115$278.01 97.0%
115
SUGA
18
 $211,744$230.64 97.8% 84

Here’s a link to download this week’s edition of “Live.It.Up”.  This week’s edition includes KISS’ Ace Frehley at The Cave, as well as the Thanksgiving Day turkey trot and Santa’s entrance into the Village and Christmas Tree Lighting on the day after Thanksgiving!
Live It Up 11.11.19

Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationListingsMarketing Reports January 4, 2019

December 2018 Big Bear Real Estate Stats

Happy New Year!!   With the two weeks around Christmas and New Year’s coming to an end, our “sleepy little town” is looking forward to a little break in the action before the next weekend rolls around.  We haven’t seen the final numbers yet, but for those of us who have lived up here for a significant amount of time can tell you, it was the busiest Christmas season we can remember!  I think there were several things that contributed to that:  a good economy, some  well-timed snows (including one early Christmas morning that brought us a beautiful White Christmas), and all the improvements and season passes brought about by Aspen/KSL (the new owners of our local resorts).  As of this morning, our single-family residence inventory in the Big Bear MLS is down to only 412 cabins (about 75% of where it was at the peak last Summer) and continuing to fall. Below are the statistics for the month of December. The total number of sales was a little lower last month, but that is very common for December, as many sellers want to keep a last couple of days at “ultra-prime” rent and many closings get pushed into January because of the holidays and lender/escrow offices being closed.
Area #Sales Avg. Sale Avg.$/sqft SP/LP DOM
BBC 19 $285,461 $212.52 96.5%  96
BBL 14 $467,050 $268.81 96.7% 131
BBL-Lakefront  2 $821,000 $426.23 91.8% 367
FAWN  3 $390,667 $300.35 96.3% 114
FAWN-Lakefront  0     NA   NA  NA  NA
FOX  7 $493,200 $202.36 95.8% 125
MOON 14 $386,921 $263.13 96.8%  64
SUGA  8 $236,863 $195.80 98.1% 109
Have a great weekend!!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing ReportsRegional News November 15, 2018

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!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing ReportsRegional News October 17, 2018

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!!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports August 14, 2018

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!!
Big Bear Real EstateFor BuyersFor SellersGeneral Information June 8, 2018

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!!