Below is your weekly update for the Big Bear real estate market as of 1/26/2009.
| Property Type | Listings for Sale | Change from Last Week | Pending Sales | Change from Last Week | Sales Year to Date | Change from Last Week |
|---|---|---|---|---|---|---|
| RESIDENTIAL | 930 | -6 | 119 | +6 | 30 | +9 |
| VACANT LAND | 345 | +6 | 10 | +1 | 0 | 0 |
| CONDOS | 49 | -2 | 6 | +1 | 1 | 0 |
| GOVERNMENT LEASE | 11 | 0 | 0 | 0 | 0 | 0 |
| COMMERCIAL & RES INVESTMENT | 51 | -1 | 3 | 0 | 0 | 0 |
| BUSINESS OPPORTUNITY | 11 | -1 | 0 | 0 | 0 | 0 |
| TOTAL | 1397 | -4 | 138 | +8 | 31 | +9 |
A few notes about the market –
Of the 15 residential properties that went into escrow the past week, 13 were either bank owned or short sales. Only 2 were the traditional, Mom & Pop seller. As was pointed out in my post yesterday, bank owned & short sale properties are the engine behind the Big Bear real estate market.
With 30 home sales so far this year, we are already past the home sales number from January 2008. That is good news. The bad news though is that prices are coming down pretty dramatically.
Residential properties continue to dominate what is selling, making up 119 of the 138 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