Big Bear Real Estate Monday Market Update For 3/31/2008

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 of homes on the market to increase dramatically over the next 60-90 days.  Our summer selling season is coming up and we will start seeing 15-20+ homes coming on the market everyday come May & June.  The phones are already ringing from interested sellers so it might come even sooner on that.

The number of houses in escrow is the same is last week at 91 while sales year to date now stand at 107 Big Bear homes sold since the beginning of the year, up 15 from last week. That makes for 37 homes sales in the past three weeks and 44 for the month of March. This is a good step up from the January and February home sales numbers.

Vacant land listings in Big Bear are up by 1 to 337 parcels now for sale. The number of pending sales are up 3 from last week for a total of 26 escrows for vacant land. There was 1 new closed sale this past week so year to date sales for vacant land are now at 16 closed sales, which is still very slow as compared to the 107 single family home sales.

The condo numbers for the Big Bear area remained identical to last week with no changes in the number of condos listed, sold, or in escrow.

The rest of the real estate market in Big Bear, including government leases, commercial and residential investments, and business opportunities remained relatively the same as last week.

There are 2 more commercial & residential investment opportunities on the market this week and 1 more pending sale.  Sales for the year remain at 4.

Business opportuinty listings are down 1 from last week to 12 for sale while sales and pending escrow remained the same.

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 click here 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.