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
- 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