Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports April 15, 2022

March 2022 Big Bear Real Estate Stats/Redfin prediction

As another season at the slopes comes to a close, the Big Bear Real Estate market isn’t showing any signs of slowing down yet.  Most areas are still selling above asking price on average, with days on market (DOM) in the 30-45 day range (very short given an average escrow length of about 30 days)!  As of this morning, we are at 125 single family residences in the Big Bear MLS, which is still only about 1-month’s supply, but trending in the right direction (although still less than half of where we should be at this time of year).  All of the analysts that I have read from expect prices to continue to climb over the next year, but at a single-digit rate (3-5%), rather than the double digits that we have seen over the past two years.  Still, as interest rates continue to rise, monthly payments will go up significantly for any buyers getting a loan/mortgage.  Here’s a recent quote from the analysts at Redfin: “Mortgage rates are shooting up at the fastest pace in history, sending the typical monthly mortgage payment for a homebuyer up more than $500 since the beginning of this year…As rates quickly approach 5%, we expect their impact on homebuyer demand to change from a motivator—driving a sense of urgency to buy before rates rise further—to a deterrent.”
Area #Sales Avg. Sale Avg.$/sqft SP/LP DOM
BBC 35   $585,449  $401.68 106.5%  31
BBL-general 18   $761,200  $555.56 106.0%  35
BBL-lakefront  3 $1,403,333  $670.50  98.3%  47
FAWN-general  4   $880,600  $327.05  98.7% 106
FAWN-lakefront  0      NA     NA   NA  NA
FOX 12   $912,113  $448.25 103.2%  37
MOON 27   $812,833  $532.72 105.0%  37
SUGA 17   $373,603  $436.03 103.1%  45
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 ProfessionalsGeneral Information December 30, 2021

What Are the Differences Between Lake Arrowhead and Big Bear Real Estate?

Update to post from 4/27/2012:

One of the questions that we get fairly often is “What are the differences between Big Bear Lake and Lake Arrowhead?” One of the reasons that people sometimes ask this question is probably because they are looking at all kinds of different sites such as Realtor.com, Redfin, or (God forbid) Zillow and see various price ranges that don’t seem to make sense. First, the most important difference is that Lake Arrowhead is a private lake and Big Bear is a public lake. This means that, even if you own a property in Lake Arrowhead, you aren’t allowed to use the Lake unless you also own lake rights (only available in Arrowhead Estates) and your short-term renters (less than 30-day rentals) are not allowed to use it at all, even if you have lake rights. Therefore, some properties seem less expensive because the owners don’t have the right to do anything but look at the Lake. In Big Bear, on the other hand, anyone can use the Lake (whether they own land there or not). There are also other restrictions on Lake Arrowhead (such as no jet skis), but this is really the most important. There are also very different areas of Arrowhead from lakefront to Crestline, just as in the Big Bear area, where you can spend $600+/sqft for a property right on the Lake, down to $350/sqft in the more outlying areas which are 10-15 miles from the Lake and resorts. Another important difference is the altitude. Big Bear is at approx. 6800ft which explains why we have 320+ days of sunshine a year. Even when it is raining in Los Angeles or San Diego, it is often sunny up here because we are usually above the cloudline. That’s why we have one of only a handful of Solar observatories in the world in Big Bear! It’s also why you may have experienced what seems like the worst fog you’ve ever seen in your life while driving up through the Lake Arrowhead area. Because of their lower altitude, they are usually right at cloud level, so they are literally in the clouds many days when it is perfectly sunny in Big Bear.  Also, because of the lower altitude, Lake Arrowhead is usually about 5-10 degrees hotter in the Summer. Finally, the closest ski resort to Arrowhead is Snow Valley, which is about a 30min. drive with no traffic or weather (and much longer with – I’ve actually heard of people taking 4.5hrs to get from Lake Arrowhead to Big Bear in the winter); whereas Big Bear has two resorts right within its city limits (Bear Mountain and Snow Summit). Along with the private lake, this is the main reason why properties in Lake Arrowhead typically do not make as good vacation rentals. In summary, if you want a full-time property that you can commute to San Bernardino more easily from and/or are not concerned with rentals and lake use, Arrowhead may be the choice for you; but if you want a property with good vacation rental potential, proximity to the ski resorts, and lake use, Big Bear is probably the better choice.

Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports September 19, 2021

August 2021 Big Bear Real Estate Stats

Below are the stats for last month’s single-family residence sales.  As of this morning, the inventory sits at only 195 sfr’s in the Big Bear MLS.  A couple people have asked about the few properties that don’t get listed in the Big Bear MLS and you can see them, also, on our website, since we are the only brokerage that I am aware of that belongs to the Big Bear MLS, CRMLS, and San Diego MLS.  If you ever want to set up a custom search there, you can access it via this link: Big Bear Real Estate.  The number of sales remained very high last month, but we finally saw a couple of areas that did not sell over 100% of asking price.  Whether this is a new trend or just overly-aggressive sellers who had priced too high, but wanted to sell before our un-official end of Summer (Labor Day weekend), remains to be seen.
Area #Sales Avg. Sale Price Avg. $/sqft SP/LP DOM
BBC  53   $430,067 $363.01 102.7% 48
BBL-general  30   $721,034 $429.77  99.4% 53
BBL-Lakefront   1 $4,750,000 $519.69  86.4% 66
FAWN-general   3   $538,333 $302.21  99.2% 39
FAWN-Lakefront   2 $2,025,000 $564.63  91.4% 56
FOX   6   $910,000 $424.59 101.3% 54
MOON  32   $555,998 $427.06 100.9% 48
SUGA  23   $311,004 $345.87  99.2% 55
Have a great week!
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor Sellers August 21, 2021

July 2021 Big Bear Real Estate Stats

Sales remained strong through the month of July and (as normally happens this time of year) the inventory seems to have peaked for the year already.  It has dropped below 200 single family residences again and is currently at 198 active properties in the Big Bear MLS.  If normal trends persist, the inventory will continue to decrease through the fall and winter, bottoming out in February or March of next year, when the whole cycle repeats itself.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 36  $443,864 $327.80 102.21% 49
BBL 30  $664,990 $441.17 101.84% 58
BBL-Lakefront  6 $2,189,802 $558.57  95.76% 75
FAWN  2   $920,000 $414.01 109.06% 60
FAWN-Lakefront  1   $649,000 $462.91 100.00% 35
FOX 11 $1,012,636 $422.49 103.55% 54
MOON 17   $638,818 $420.77 102.15% 52
SUGA 18   $372,439 $369.67 103.58% 39
Big Bear Real EstateFor BuyersFor Realty ProfessionalsFor SellersGeneral InformationMarketing Reports June 15, 2021

May 2021 Big Bear Real Estate Stats

Here are the Big Bear real estate statistics for last month.  As you can see, sales remain very strong, with most areas still selling 3-5% over asking price, on average.  As is usual in the Spring, inventory ticked up a bit (but much less than expected at this time of year), to only 172 single family residences on the market, which is still less than half of where we should be at this time of year.  If the inventory continues to follow the regular trajectory this year, it should rise slightly for about 2 more months, until it peaks in mid-August and then starts to go back down from there through the Fall and Winter.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 44   $406,083 $342.86 105.31% 40
BBL-general 24   $647,423 $451.02 106.10% 36
BBL-Lakefront  3 $1,868,333 $575.22  99.41% 60
FAWN-general  5   $507,800 $346.24 101.94% 57
FAWN-Lakefront  0     NA   NA   NA NA
FOX  8   $839,625 $377.51 103.92% 36
MOON 20   $647,982 $449.11 103.69% 36
SUGA 26   $325,819 $359.32 104.89% 42
Have a great week!
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 April 9, 2021

February 2021 Big Bear Real Estate Statistics

As winter is wrapping up and we get closer to Spring and the closure of the ski resorts for the season, the inventory has ticked up a little bit to 78 single family properties in the Big Bear MLS.  This is still only about 25% of where it should be at this time of year, but it seems to be following the regular trend, since it’s about half of where we were at the peak last summer.  Interest rates have also ticked up a bit to about 3% for a 30-year mortgage, but that number is still also historically extremely low.  The record low inventory and interest rates are continuing the trend of a very heated sellers market, with multiple offers being the norm and the Sales Price to List Price ratio (SP/LP) being over 100% in almost every area that we track.  Hopefully the inventory will continue to go up a bit through the Spring, but it looks like it’s going to be a long time before it returns to normal levels.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 22   $387,084 $314.66 103.25% 38
BBL-general 23   $698,692 $359.02 102.00% 75
BBL-Lakefront  1 $1,330,000 $438.22  95.07% 587
FAWN-general  2   $411,000 $260.17 107.43%  43
FAWN-Lakefront  1   $602,500 $465.06 100.58% 304
FOX  4   $658,250 $380.30 107.75% 103
MOON 18   $560,883 $421.21 104.99%  53
SUGA 16   $272,656 $331.32 102.27%  54
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 December 13, 2020

November 2020 Big Bear Real Estate Stats

We are coming into the final stretch of 2020, with the second home market remaining incredibly hot.  Prices continue to rise and almost all areas are selling at a little over asking price on average.  The largest problem we are having in terms of sales right now is the ridiculously low inventory.  We are down to only about 90 single family residences for sale in the Big Bear MLS in the entire valley (for perspective, this number usually only gets as low as about 300 – and that’s at the very end of winter, when inventory is always at its lowest).  If you are buying, be prepared for competition, but if you have been thinking of selling, I can’t think of a better time in the last 14+ years!!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 49   $331,518 $288.24 103.2%  43
BBL 32   $632,181 $336.31 100.6%  80
BBL-Lakefront  9 $1,972,944 $576.33  97.6% 440
FAWN  5   $348,000 $297.66  99.4% 162
FAWN-Lakefront  0   NA   NA   NA  NA
FOX 13   $886,577 $301.63 100.2%  57
MOON 40   $508,062 $343.65 102.6%  42
SUGA 28   $254,804 $269.31 103.0%  41
Have a Merry Christmas and Happy Holidays!!