Below is a real estate market update for residential properties in the Big Bear Valley during the week of March 24 to March 30. The market in Big Bear Lake and Big Bear City continues to be the main areas of activity when compared to Sugarloaf & Fawnskin. Given that there are 135 homes for sale in Sugarloaf, 1 closed sale and 1 pending sale this past week is drop in the bucket. At least with only 28 homes for sale, Fawnskin still has relativley few homes for sale and therefore less competition. Valley wide, … [Read more...]
Big Bear Real Estate Monday Market Update For 3/31/2008
April 1, 2008 by Leave a Comment
Better late than never they say. Below is the update for the Big Bear real estate market as of 3/31/2008. The residential properties listed for sale in Big Bear are down 25 from 1103 homes for sale to 1078. Part of the reason for the big jump down is that 15 homes came off the market this morning as expired listings. I would expect those properties will be re-listed soon and add to the numbers. So, the real net loss is closer to 10, or around 1093 houses for sale in Big Bear. Be on the look out for the number … [Read more...]
Big Bear Residential Market Activity 3/17/2008 to 3/23/2008
March 27, 2008 by Leave a Comment
Below is a market update for residential properties in the Big Bear Valley for the week of March 17 to March 23. Given that residential properties are the majority of sales in Big Bear, I have focused on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know. New, pending, and sold listings in Big Bear Lake were very similar to the prior week with no major swings noted. Pending listings in Big Bear City nearly doubled last week, up from 3 to 8, with … [Read more...]
Big Bear Real Estate Monday Market Update For 3/24/2008
March 24, 2008 by Leave a Comment
Below is the update for the Big Bear real estate market as of 3/24/2008. The residential properties listed for sale in Big Bear are up 22 from 1081 homes for sale to 1103. There are 51 more homes on the market now as compared to 5 weeks ago when I started tracking these numbers. The number of homes in escrow is down 1 from last week to 91 while home sales year to date are now at 92 Big Bear homes sold since the beginning of the year, up 10 from last week. That makes for 23 homes sales in the past two … [Read more...]
Big Bear Home Prices Down 15-25%
March 21, 2008 by Leave a Comment
A recent article by the L.A. Times says the median price of homes in the Big Bear area dropped between 15-25% in February of 2008 as compared to February 2007. Area Number of Sales Median Price Drop in Price from 2/07 Median Price Home Per Sqft. Big Bear Lake 92315 17 $333,000 -24% $243 Big Bear City 92314 11 $235,000 -14.6% $221 Sugarloaf 92386 6 $164,000 -21.9% $146 Fawnskin 92333 n/a n/a n/a n/a It is interesting to compare this with the median home prices for Big Bear that I posted on earlier this … [Read more...]
Big Bear Residential Market Activity 3/10/2008 to 3/16/2008
March 18, 2008 by 1 Comment
Below is a market update for residential properties in the Big Bear Valley for the week prior. Given that residential properties are the majority of sales in Big Bear, I will focus on this type of property. If you are interested in the stats for vacant land, commercial, or condos, please let me know. This information will be updated on a weekly and monthly basis. Be sure to check back or sign up for my email newsletter to be kept informed on the real estate market conditions in Big Bear. Big Bear Lake … [Read more...]
Big Bear Real Estate Monday Market Update For 3/17/2008
March 17, 2008 by 1 Comment
Below is the update for the Big Bear real estate market as of 3/17/2008. The residential properties listed for sale in Big Bear are up 17 from 1064 homes for sale to 1081. The number of homes in escrow is down 7 from last week to 92 while home sales year to date are now at 82 Big Bear homes sold since the beginning of the year, up 13 from last week. Vacant land listings in Big Bear were up 14 to 339 now for sale in the Big Bear Valley. The number of pending sales is down 3 from last week for a total of 25 escrows … [Read more...]
Absoprtion Rates For Big Bear Real Estate – March 2008
March 16, 2008 by Leave a Comment
The absorption rate provides a clear picture of what is happening in the real estate market and is good to share with buyers and sellers. I determine the absorption rate for Big Bear by taking the previous month's sales in a particular price range or area (you can use others like bedrooms, square footage and such), and divide that into the total number of available properties in that same criteria set. This will give you the amount of months it will take for the market to absorb the properties for sale, assuming … [Read more...]
New FHA, Freddie Mac, & Fannie Mae Loan Limits – Revisited
March 15, 2008 by 1 Comment
I posted earlier this week on the new, higher conforming loan limits for Freddie Mac & Fannie Mae as well as FHA loan limits for the Big Bear, San Bernardino area. After a few more days of consideration, I think it is safe to say that these new limits will have no immediate benefit to the real estate sales in our area. I come to this conclusion based on couple key factors: Most of the homes in Big Bear are second homes. Given that approximately 70% of the homes in Big Bear are second/vacations homes for … [Read more...]
Castle Glen Sales Hitting High Numbers Early in 2008
March 15, 2008 by 1 Comment
While there are not many homes sales in the Castle Glen area to report on so far in 2008, the two that have sold are record highs for this Big Bear area. The two closed sales were both sold for $1,900,000. The previous record high was $1,775,000 back in August 2005. Also, there is currently one home for sale in the area with an original listing price of $1,799,000, scheduled to close escrow in mid-April. 383 Starlight Circle Listing Price - $2,494,876 Selling Price - $1,900,000 Sale Date - … [Read more...]
