- Current inventory 550 / Sold 84 / 6.54 month supply
- Average sales price to list price 98% (buyers negotiated an average of 2% off)
- Average sales price to original list price 96%
- Median days on the market 59
- Average price sold $308,188
- Average price per square foot valley wide $223.5
- 33.3% of all homes sold in May were CASH transactions. (28/84)
May 2016 vs. May 2015
- Inventory is at the same level as it was last year at this time. June 1, 2015 was 547 vs 550 for 2016
- Average sales price to list price remained at 98% .
- Average sales price to original list price improved also steady at 96%.
- Median days on the market increased from 55 to 59 days an increase of less than 1%.
- Average price sold $308,188 vs. $295,840 an increase of 4.17%
- Average price per square foot valley wide $188.3 vs. $223.5 an increase of 18.7% for the month.
All of these numbers seem to make sense, until we look at the average price per foot sold. A quick analysis of what happened to create the upswing in average price per foot brought to my attention the sale on Round drive of a 1008 sq ft home that closed for $1,250,000, ($1240 per foot). Even with that sale excluded the price per foot rose 12.1%.
- Hirschler and Associates 2015 average $SP/$LP ratio is 98%. (sales price to list price differential) vs 97% for all agents valley wide. Sellers that list with Hirschler and Associates net an average of one percent more.
- Median days on the market for our listings is 51. Sellers that list with us sell their home in 51 days vs 90 days for all agents in Big Bear. (43 days faster)
One thing still holds true…There is no shortage of buyers for good deals, just a shortage of sellers that are willing to price their properties based upon market conditions. Big Bear sellers will net the best bottom line by pricing their property based upon accurate closed comps.