With the inventory continuing to drop (497 units), confidence high, and rates at an all time low, this is a great time to sell.
- Current inventory 497 / Sold 120 / 4.14 month supply (seller’s market)
- Average sales price to list price 97% (buyers negotiated an average of 3% off)
- Average sales price to original list price 94%
- Median days on the market 80
- Average price sold $306,300 ( affected by a large lakefront closing)
- Average price per square foot valley wide $209.1
- 26.6% of all homes sold in October were CASH transactions. (32/120)
YTD 2016 vs 2015
- Units sold 961 (2016) vs 976 (2015) units down 15 units or 1.6%.
- Average sales price to list price was flat at 97% .
- Average sales price to original list price was 95% this year vs. 94% in 2015.
- Median days on the market decreased from 74 to 69.
- Average price sold $302,257 vs. $283,967 an increase of 6.44%.
- Average price per square foot valley wide $205 vs. $193.3 an increase of 6.05% year over year.
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.