Below is your weekly update for the Big Bear real estate market as of 1/19/2009.
| Property Type | Listings for Sale | Change from Last Week | Pending Sales | Change from Last Week | Sales Year to Date | Change from Last Week |
|---|---|---|---|---|---|---|
| RESIDENTIAL | 936 | 0 | 113 | -2 | 21 | +15 |
| VACANT LAND | 339 | +1 | 9 | +1 | 0 | 0 |
| CONDOS | 51 | 0 | 5 | +3 | 1 | 0 |
| GOVERNMENT LEASE | 11 | 0 | 0 | 0 | 0 | 0 |
| COMMERCIAL & RES INVESTMENT | 52 | +1 | 3 | -1 | 0 | 0 |
| BUSINESS OPPORTUNITY | 12 | -2 | 0 | 0 | 0 | 0 |
| TOTAL | 1401 | 0 | 130 | +1 | 22 | +15 |
A few notes about the market –
The residential inventory leveled off for the first time after 4 continuous weeks of a drop. It may seem like there are a lot of properties for sale in Big Bear but, historically speaking, there really are not that many. A couple of years ago, the residential inventory was close to 1,500. It was between 1200-1300 just last year. So, the fact that it has dropped a bit is good news for sellers as this means less competition.
With 21 home sales so far this year, it looks like the January sales numbers will be very close, if not more, than the sales numbers for Jan. 2008. That would also be good news for sellers. Increased activity = Increased demand = Increased value.
Residential properties continue to dominate what is selling, making up 113 of the 130 total properties that are in escrow and all but 1 of the closed sales so far this year. This means that if you are trying to sell anything but a residential property in Big Bear, you have your work cut out for you.
See last week’s Big Bear real estate market numbers.
Be sure to check back here every Monday for your Big Bear Market Update or sign up to get this emailed to you every week.
* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area or data on properties in Big Bear that are listed in other MLS systems.
Speak Your Mind