The Big Bear Multiple Listing Service recorded 863 sales in 2011. Below is a breakdown showing chart showing how many units each price range contributed.
With 794 (92%) of the homes sold falling into the under $500,000 price range, and only 69 over $500,000 (8%), it is fair to say higher end sales are tough. The price range that is selling best is $100,000 – $200,000 with about 40% of the homes sold.
Sales of homes over 1 million are location driven. Of the 12 sales over $1 million in 2011, and 8 were on the lake, 3 in Castle Glen, and 1 in Moonridge.
Only one home in Big Bear City sold for over $560,000 last year, and that was 646 Cedar Glen in Meadowbrook Estates which closed at $900,000 in June.
Foreclosures made up 28% of the sales, while short sales were only 14%. Traditional residential sellers made up the remaining 58%.
312 (36%) of all of the sales were cash transactions.