The real estate market in Big Bear continues to move along at a very slow place. Even with the extra day this February, home sales in Big Bear last month totaled only 28 31 (some late entries), one two more less than the number sold in January.
The median price for properties listed for sale was up 1% from $339,900 to $345,000, while the median sales price for the homes sold in February was down 13 10% from the previous month, $250,000 $260,000 as compared to $287,500 in January. This is still the lowest monthly median sales price for Big Bear that we have seen over the past 2 years (see below).
Compared to the home sales in February of 2007, the number of homes sold was off by more than 60% and the median price was down by approximately 17 14%.
What do all these numbers mean? The real estate market is still experiencing a very limited amount of activity. If this is not the bottom of the market then I don’t know what to call it. There is probably still some room for the prices to come down but home sales cannot get much slower than this. Take a look at the past 20 years for Big Bear sales and you won’t find any slower months than the past two months.
| Month and Year | # Homes For Sale | Median Asking $ | # Homes Sold | Median Sold $ |
|---|---|---|---|---|
| Feb 2008 | 1049 | $345,000 | 31 | $260,000 |
| Jan 2008 | 1094 | $339,900 | 29 | $287,500 |
| Dec 2007 | 55 | $273,750 | ||
| Nov 2007 | 66 | $282,500 | ||
| Oct 2007 | 53 | $310,000 | ||
| Sept 2007 | 60 | $269,750 | ||
| Aug 2007 | 81 | $310,000 | ||
| July 2007 | 70 | $293,450 | ||
| June 2007 | 59 | $350,000 | ||
| May 2007 | 81 | $309,900 | ||
| April 2007 | 59 | $340,000 | ||
| Mar 2007 | 82 | $311,100 | ||
| Feb 2007 | 78 | $302,500 | ||
| Jan 2007 | 55 | $325,000 | ||
| Dec 2006 | 95 | $320,000 | ||
| Nov 2006 | 90 | $392,000 | ||
| Oct 2006 | 96 | $270,000 | ||
| Sept 2006 | 97 | $340,000 | ||
| Aug 2006 | 118 | $311,450 | ||
| July 2006 | 78 | $299,950 | ||
| June 2006 | 115 | $300,000 | ||
| May 2006 | 106 | $325,000 | ||
| April 2006 | 92 | $311,500 | ||
| Mar 2006 | 100 | $322,500 | ||
| Feb 2006 | 95 | $299,000 |
[…] are a few different ways to answer this question. Looking at the average sales price or the median sales price are a couple of the most popular ways to do […]