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Big Bear Inventory

  • 557 active residential units valley wide, active inventory was 314 units  on 3/11/18 (6 months ago)
  • 112 closed residential units in past 30 days
  • 163 pending / backup (in escrow)
  • Average price per sq ft sold $236.87
  • Price differential 97.75% (buyers negotiated 2.25% off of current list price.)
  • 99 days on the market average for homes sold, with median being only 66

Observations:

  • Big Bear Real Estate inventory has increased 77% 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. Inventory is now starting to stabilize.
  • Price differential (list price to sales price) remains high at 97.75% .
  • Days on the market are are creeping up from 80 days last month to 99 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

  • 198 units under $300k (35%)
  • 185 units $301K-$500k (33%)
  • 103 units $501k-$800k (17%)
  • 89 units above $801k (15%)

Sold per price range in the past 30 days

  •  71 units under $300k (51%)
  • 34 units $301K-$500k (39%)
  • 10 units $501k-$800k (9%)
  • 2 units above $801k (1%)
  • 90% of homes sold were under $500K