2016 Year End Statistics for Big Bear Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

• Year over year units sold were down 2% (26 units) from 1246 in 2015 to 1220 in 2016.
• Average price sold is increasing 2015 average was $283,520 and 2016 was $299,703 up $16,183  (+5.7%).
• We are seeing homes more homes being sold between $300k – $800k.
• Days on the market indicate the $350k-$400K price point was the fastest selling in 2016, followed by $100k – $300k.
• Close price to list price is still in the 97 – 98% range on average, with properties over $1 mil having the highest percentage of negotiation.

*Sellers ask me often what is the best time to sell, the answer is when the inventory is low (now), when the interest rates are low (now), and when consumer confidence is high (now).

*We don’t have a shortage of buyers for properties priced at market value, we have a shortage of sellers willing to meet the market. 

* Buyers in todays market need to understand that interest rates and prices are going up, not down. The sooner you buy the better your deal is going to be. 

 

Over $35 million in closed sales in 2016, we know the Big Bear Market.