- Current Inventory 431 residential units on the market (Big Bear MLS) 4.4 months supply
- Units sold are down..Closed residential units 2018 1196 vs. 1506 2017 / 20% reduction <310 units>
- Average price sold is up.. 2018 $335,188 vs $325,103 / +10,085 +3.1%
- Price per square foot sold is up.. 2018 $238.66 vs $221.04 / +17.62 +7.97%
- Average Days on the market are down.. 2018 91 days vs 109 days / -18 days -16.5%
- Price differential is stable at 97.80% list price to sold price.
2018 Sold Data
2017 Sold Data
The Big Bear Real Estate market is shifting. We are seeing signs of prices correcting. Properties that are priced based upon recent closed comparable sales will have the best results. Overpricing in this market will produce less return for sellers. Chasing the market down can produce a result that may be disappointing. Setting the correct initial list price is crucial.
Overall I believe this market cycle will have a slight dip or stabilization of prices and that we shouldn’t see a dramatic drop this year since interest rates are still good, inventory is still controlled, and buyer confidence remains high.
Below is a recap of deed recording information over the past 10 years:
