With the inventory continuing to drop (443 units), confidence high, and interest rates still near historic lows, this is a great time to buy or sell.
- Current inventory 443 / Sold 108 / 4.10 month supply (leaning towards a seller’s market)
- Average sales price to list price 98% (buyers negotiated an average of 2% off)
- Average sales price to original list price 94%
- Median days on the market 86
- Average price sold $310,245
- Average price per square foot valley wide $201.5
- 23% of all homes sold in October were CASH transactions. (25/108)
YTD 2016 vs 2015
- Units sold 1072 (2016) vs 1083 (2015) units down 11 units or .10%.
- 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 71.
- Average price sold $303,211 vs. $284,635 an increase of 6.52%.
- Average price per square foot valley wide $204.7 vs. $194.2 an increase of 5.40% 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.