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 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!!
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 September 5, 2020

July 2020 Big Bear Real Estate Stats/Record Low Inventory!!

Below are the monthly Big Bear Real Estate single family residence statistics.  Historically, we should be reaching our peak inventory for the year this week (second week of August) and should be around 600 sfr’s on the market; but as of this morning we only have 168 such active listings in the Big Bear MLS!  As we discussed earlier, there are a couple reasons for this:  1. Interest rates are ridiculously low right now (less than 3% for a 30-yr loan!), 2. After the lockdowns, demand for a mountain cabin is at an all-time high, and 3. The “zillow-make-me-move” sellers that usually come out every spring just didn’t come out this year (partly because they are using their own cabins so much more this year and partly because they are making money “hand over fist” due to record high short-term rental demand – especially since millions of residents in LA, OC, San Diego, etc. just don’t have anywhere else to go right now)!!  All in all, it makes for a “perfect storm” for cabin sales!!
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC 40   $321,860 $227.22 97.9%  89
BBL 33   $483,499 $273.80 99.2% 111
BBL-Lakefront  5 $1,595,000 $902.27 93.5% 484
FAWN  11   $389,332 $269.27 98.9%  88
FAWN-Lakefront  2 $1,070,000 $506.44 96.1% 312
FOX 15   $632,593 $271.14 97.9%  83
MOON 50   $448,481 $295.39 99.8%  67
SUGA 24   $216,459 $237.33 98.1%  97
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!
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 InformationListingsMarketing ReportsRegional News December 5, 2018

November 2018 Big Bear Real Estate Stats/The Snow is Falling!!

Hi folks!
Here are last month’s Big Bear Real Estate statistics.  As of this morning, the inventory has dropped to 447 single-family residences in the Big Bear MLS, along with a handful of condos.  If you click on the link for the MLS, you’ll see that we switched our idx providers to a more user-friendly search that can be selected as either map-based or list-based.  If you have used the MLS search before, it may ask you to register again, but we think you’ll really like the new format.  Feel free to pass along any feedback that you may have o the new search format.  As you can see from the chart below, November was pretty busy for closings, especially for a short holiday month, with many buyers trying to close in time to enjoy the holidays at the cabin and/or get them rented for the profitable winter rental season.  As we often mention, buyers’ attention has already started to turn away from the Lake and towards the slopes, with increased sales in Moonridge.  As property values in the Big Bear Lake area continue to increase, the number of sales also continues to increase in the relatively more affordable areas of Big Bear City and Sugarloaf, which are still great areas for second homes, but not as ideal for vacation rentals.
Area $Sales Avg. Sale Avg.$/sqft SP/LP DOM
BBC 31 $280,171 $212.40 97.1%  80
BBL 22 $406,514 $272.35 96.0% 115
BBL-LAKEFRONT  0 NA NA NA NA
FAWN  4 $535,750 $228.93 96.3%  75
FAWN-LAKEFRONT  0 NA NA NA NA
FOX  5 $534,800 $260.39 96.9% 118
MOON 16 $375,144 $277.30 96.2% 107
SUGA 13 $191,954 $214.37 97.7% 104
We got about 6 inches of snow at resort level last week and the first wave of the current storm is dropping snow right now.  This storm is supposed to linger through Friday morning, with another storm on the horizon for mid next week already, so it’s looking like it should be a White Christmas, if current trends continue!  Here’s a link to download this week’s edition of “Live it. UP”.  This week’s highlights include skiing and snowboarding at both Snow Summit and Bear Mountain, Winter Adventures at Action Tours, and Santa and Mrs. Claus in the Village!
Have a great week!
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 September 19, 2018

August 2018 Big Bear Real Estate Stats/Hot Dawgz & Handrails

Hi folks,
Below are the Big Bear real estate numbers for the last full month of summer.  Even though summer is almost over, the market is remaining hot, with the busiest September we can remember in our 11 years as Realtors up here. They are always adding more events so that spring and fall aren’t as slow as they were went we first moved up here (Oktoberfest actually opened two weekends ago) and there’s still lots of excitement about the acquisition of our local resorts by Aspen/KSL, the IKON pass, lots of progress on the new Moonridge Zoo, etc.  As with last year, the inventory seems to have peaked around the second week of August and has started dropping already.  As of this morning, we are down about 5% already to 517 active single-family residence listings in the Big Bear MLS.
Area #Sales Avg. Sale Avg. $/sqft SP/LP DOM
BBC  21 $211,129 $219.87 97.84%  75
BBL  27 $432,308 $264.47 97.14% 142
BBL-Lakefront   0   N/A   N/A   N/A  N/A
FAWN   9 $276,500 $254.10 95.65%  98
FAWN-Lakefront   0   N/A   N/A   N/A  N/A
FOX   9 $524,667 $253.78 97.96% 134
MOON  19 $359,042 $257.27 97.97%  79
SUGA  21 $207,933 $200.60 98.27%  81

 

Here’s a link to download this week’s edition of “Live It UP” (formerly “What’s Up at 7000ft”).  This weekend’s highlights include Hot Dawgz & Handrails at Bear Mountain, the Big Bear Village Scarecrow Festival, and the ongoing 48th Annual Big Bear Oktoberfest!
Have a great week!!