Big Bear Inventory
- 568 active residential units valley wide (active inventory was 291 6 months ago)
- 98 closed residential units in past 30 days
- 151 pending / backup (in escrow)
- Average price per sq ft sold $245.36
- Price differential 98.32% (buyers negotiated 1.68% off of current list price.)
- 80 days on the market average for homes sold, with median being only 59
- Big Bear Real Estate inventory has more has doubled in the past 6 months. This gives buyers more choices and forces sellers to price competitively if they want to win the buyers over and receive offers. Hopefully the inventory will sell off this summer/fall to get us back into a 3-4 month supply and keep the demand high.
- Price differential (list price to sales price) remains high at 98% +.
- Days on the market are at an encouraging 80 days average for sold properties.
- Sellers need to establish list price based upon sold comps, not active.
- Price decreases are increasing which is an indication of sellers reaching in original list price.
- With interest rates rising, inventory rising and confidence softening, we may be in for a correction in the near future.
List prices per price range of current active inventory
- 201 units under $300k (35%)
- 175 units $301K-$500k (30%)
- 120 units $501k-$800k (21%)
- 86 units above $801k (15%)
Sold per price range in the past 30 days
- 50 units under $300k (51%)
- 38 units $301K-$500k (39%)
- 9 units $501k-$800k (9%)
- 1 units above $801k (1%)
- 89% of homes sold were under $500K
Homes priced above $500k are 36% of the active listings, and only 10% of the sales.